Royal Bank of Canada Reiterates “Outperform” Rating for CGI (NYSE:GIB)

Royal Bank of Canada restated their outperform rating on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $178.00 price objective on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their price objective for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $147.25.

CGI Stock Up 0.8 %

Shares of GIB stock opened at $109.15 on Monday. The stock’s fifty day moving average price is $110.99 and its 200 day moving average price is $110.36. CGI has a 1-year low of $96.92 and a 1-year high of $118.89. The company has a market cap of $24.87 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.55 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02.

CGI Announces Dividend

The business also recently disclosed a — dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were issued a $0.111 dividend. The ex-dividend date was Wednesday, November 20th. This represents a dividend yield of 0.4%. CGI’s dividend payout ratio (DPR) is presently 8.18%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in CGI in the 3rd quarter worth approximately $28,000. Blue Trust Inc. boosted its holdings in CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after buying an additional 585 shares in the last quarter. CWM LLC boosted its holdings in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after buying an additional 176 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after buying an additional 173 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management acquired a new position in shares of CGI in the third quarter worth about $208,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Company Profile

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.