CGI (NYSE:GIB) Sets New 12-Month High – What’s Next?

CGI Inc. (NYSE:GIB) (TSE:GIB.A)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $122.06 and last traded at $122.33, with a volume of 60249 shares traded. The stock had previously closed at $120.65.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GIB. UBS Group lifted their price objective on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group decreased their price objective on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $178.00 price objective on shares of CGI in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $153.25.

CGI Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The firm has a market cap of $27.76 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.62 and a beta of 0.94. The company has a 50-day moving average of $112.23 and a 200 day moving average of $112.13.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, sell-side analysts anticipate that CGI Inc. will post 5.79 EPS for the current year.

CGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be given a $0.1039 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.42 annualized dividend and a yield of 0.34%. CGI’s payout ratio is 8.32%.

Institutional Investors Weigh In On CGI

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Crestwood Advisors Group LLC grew its stake in shares of CGI by 2.4% during the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock worth $485,000 after purchasing an additional 97 shares during the period. Metis Global Partners LLC grew its stake in shares of CGI by 1.0% during the fourth quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company’s stock worth $1,153,000 after purchasing an additional 108 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of CGI by 0.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company’s stock worth $3,412,000 after purchasing an additional 111 shares during the period. West Family Investments Inc. grew its stake in shares of CGI by 5.5% during the third quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock worth $267,000 after purchasing an additional 121 shares during the period. Finally, Signal Advisors Wealth LLC grew its stake in shares of CGI by 4.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock worth $345,000 after purchasing an additional 135 shares during the period. Institutional investors own 66.68% of the company’s stock.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.