CGI Inc. (NYSE:GIB) Given Average Recommendation of “Buy” by Brokerages

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has been given an average recommendation of “Buy” by the five analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $137.00.

A number of brokerages recently issued reports on GIB. Jefferies Financial Group upped their price target on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. UBS Group began coverage on CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target for the company. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a report on Thursday, August 1st. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, CIBC raised CGI from a “neutral” rating to an “outperformer” rating and upped their price target for the company from $155.00 to $178.00 in a report on Tuesday.

Institutional Investors Weigh In On CGI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in CGI in the first quarter valued at approximately $30,000. CWM LLC raised its stake in shares of CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock worth $131,000 after purchasing an additional 190 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of CGI during the first quarter worth approximately $226,000. EverSource Wealth Advisors LLC raised its stake 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 purchasing an additional 173 shares during the last quarter. Finally, CreativeOne Wealth LLC purchased a new stake in shares of CGI during the first quarter worth approximately $228,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

Shares of CGI stock opened at $114.67 on Thursday. CGI has a one year low of $93.07 and a one year high of $118.89. The company has a market cap of $26.46 billion, a PE ratio of 22.09, a P/E/G ratio of 2.45 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. The business has a 50-day simple moving average of $112.51 and a 200-day simple moving average of $106.78.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, hitting analysts’ consensus estimates of $1.40. CGI had a return on equity of 20.21% and a net margin of 11.51%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, equities research analysts forecast that CGI will post 5.55 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.