Wrong date and time in shell script job (caching date?)

When running a simple CI/CD job that uses datetime, the date and time are consistently wrong. Here is the .gitlab-ci.yml file:

job1:
  cache: {}
  script:
    - date '+%Y:%m:%d %H:%m:%S.%N'

When I push this the date shown in the job output is behind by a bit over 40 minutes. We are running GitLab Community Edition version 12.4.2.