Jefferies Financial Group Begins Coverage on CGI (NYSE:GIB)

Research analysts at Jefferies Financial Group began coverage on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a research report issued on Tuesday, Benzinga reports. The firm set a “buy” rating and a $120.00 price target on the technology company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 21.10% from the company’s current price.

Several other research firms have also recently weighed in on GIB. CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. TD Securities raised CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, StockNews.com cut CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th.

CGI Price Performance

NYSE GIB opened at $99.09 on Tuesday. CGI has a twelve month low of $93.07 and a twelve month high of $118.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.17. The stock has a market capitalization of $22.87 billion, a PE ratio of 19.09, a P/E/G ratio of 2.31 and a beta of 0.95. The stock has a 50-day simple moving average of $101.87 and a 200 day simple moving average of $107.27.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.02. CGI had a return on equity of 20.43% and a net margin of 11.38%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Research analysts anticipate that CGI will post 5.57 EPS for the current year.

Hedge Funds Weigh In On CGI

Several large investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in shares of CGI by 297.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after purchasing an additional 202 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of CGI in the 1st quarter valued at approximately $30,000. UMB Bank n.a. grew its stake in shares of CGI by 9,916.7% in the 1st quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock valued at $66,000 after purchasing an additional 595 shares during the period. CWM LLC grew its stake in shares of CGI by 19.1% in the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after purchasing an additional 190 shares during the period. Finally, Tritonpoint Wealth LLC bought a new stake in shares of CGI in the 4th quarter valued at approximately $205,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

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.