CGI Group (NYSE:GIB) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $93.51 and traded as high as $95.15. CGI Group shares last traded at $94.25, with a volume of 323,463 shares traded.

Analysts Set New Price Targets

Several brokerages have issued reports on GIB. Royal Bank Of Canada reiterated an “outperform” rating on shares of CGI Group in a research report on Monday, January 5th. TD Securities upgraded shares of CGI Group to a “strong-buy” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CGI Group in a report on Monday, December 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $81.00 price objective (down from $105.00) on shares of CGI Group in a research report on Monday, November 10th. Finally, Cibc Captl Mkts downgraded CGI Group from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CGI Group has an average rating of “Moderate Buy” and a consensus price target of $117.00.

CGI Group Stock Performance

The company has a quick ratio of 0.72, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The stock has a market cap of $20.57 billion, a price-to-earnings ratio of 15.74 and a beta of 0.59. The stock’s fifty day moving average is $89.99 and its 200-day moving average is $93.43.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, November 5th. The technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.02. CGI Group had a net margin of 10.41% and a return on equity of 18.55%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the business posted $1.92 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 21st were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 21st. This is a positive change from CGI Group’s previous quarterly dividend of $0.11. This represents a $0.68 dividend on an annualized basis and a yield of 0.7%. CGI Group’s payout ratio is presently 9.13%.

Hedge Funds Weigh In On CGI Group

Several institutional investors have recently modified their holdings of GIB. Beutel Goodman & Co Ltd. grew its position in shares of CGI Group by 13.0% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company’s stock valued at $361,881,000 after purchasing an additional 397,005 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of CGI Group by 275.3% in the first quarter. Goldman Sachs Group Inc. now owns 898,276 shares of the technology company’s stock valued at $89,675,000 after buying an additional 658,925 shares during the period. Millennium Management LLC increased its position in shares of CGI Group by 786.2% during the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock worth $8,141,000 after acquiring an additional 72,277 shares in the last quarter. Kepler Cheuvreux Suisse SA bought a new stake in shares of CGI Group during the third quarter worth $6,498,000. Finally, Mediolanum International Funds Ltd raised its holdings in shares of CGI Group by 35.1% during the third quarter. Mediolanum International Funds Ltd now owns 67,190 shares of the technology company’s stock worth $5,972,000 after acquiring an additional 17,448 shares during the period. Institutional investors own 66.68% of the company’s stock.

About CGI Group

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.