CGI (NYSE:GIB) Price Target Lowered to $135.00 at Jefferies Financial Group

CGI (NYSE:GIB) (TSE:GIB.A) had its price target decreased by Jefferies Financial Group from $140.00 to $135.00 in a report released on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

GIB has been the subject of a number of other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price target on shares of CGI in a research report on Monday, January 6th. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and raised their target price for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $150.75.

CGI Trading Up 1.9 %

NYSE GIB opened at $110.56 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. CGI has a one year low of $96.92 and a one year high of $118.89. The company’s 50 day moving average price is $110.41 and its 200 day moving average price is $110.85. The firm has a market capitalization of $25.20 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.33 and a beta of 0.95.

CGI Announces Dividend

The business also recently declared a — dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.111 per share. This represents a dividend yield of 0.4%. The ex-dividend date was Wednesday, November 20th. CGI’s payout ratio is currently 8.55%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GIB. Canoe Financial LP acquired a new stake in shares of CGI in the 4th quarter valued at about $94,390,000. National Bank of Canada FI raised its stake in CGI by 23.6% during the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after buying an additional 861,771 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after buying an additional 555,017 shares during the last quarter. Barclays PLC grew its position in shares of CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after acquiring an additional 308,040 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of CGI by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock valued at $1,876,550,000 after acquiring an additional 230,000 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

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.