CGI Inc. (NYSE:GIB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $132.67.

A number of analysts have commented on GIB shares. CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Jefferies Financial Group increased their price objective on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. UBS Group assumed coverage on shares of CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 target price for the company. Finally, Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research report on Thursday, August 1st.

Hedge Funds Weigh In On CGI

A number of institutional investors and hedge funds have recently bought and sold shares of GIB. Cubist Systematic Strategies LLC acquired a new stake in CGI during the second quarter worth about $2,907,000. APG Asset Management N.V. boosted its stake in CGI by 32.4% during the second quarter. APG Asset Management N.V. now owns 256,013 shares of the technology company’s stock worth $23,837,000 after buying an additional 62,649 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of CGI by 184.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,765 shares of the technology company’s stock valued at $2,871,000 after acquiring an additional 18,644 shares during the period. Evergreen Capital Management LLC raised its position in CGI by 6.7% in the second quarter. Evergreen Capital Management LLC now owns 3,437 shares of the technology company’s stock valued at $343,000 after purchasing an additional 215 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after buying an additional 173 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Stock Down 0.9 %

CGI stock opened at $112.76 on Friday. CGI has a 1-year low of $93.07 and a 1-year high of $118.89. The business has a fifty day moving average price of $109.95 and a 200-day moving average price of $106.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. The stock has a market capitalization of $26.02 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.67 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, hitting the consensus estimate of $1.40. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. CGI had a net margin of 11.51% and a return on equity of 20.21%. Equities research analysts forecast that CGI will post 5.52 EPS for the current fiscal year.

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.