CGI (NYSE:GIB) Raised to Outperformer at CIBC

CIBC upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a neutral rating to an outperformer rating in a research report released on Tuesday morning, Marketbeat.com reports. They currently have $178.00 price target on the technology company’s stock, up from their prior price target of $155.00.

GIB has been the subject of a number of other reports. Jefferies Financial Group upped their price target on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, UBS Group started coverage on shares of CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $137.00.

CGI Stock Up 0.5 %

Shares of NYSE GIB opened at $116.30 on Tuesday. CGI has a 52-week low of $93.07 and a 52-week high of $118.89. The firm has a fifty day moving average of $112.91 and a 200-day moving average of $106.89. The stock has a market capitalization of $26.84 billion, a PE ratio of 22.41, a P/E/G ratio of 2.45 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

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

Hedge Funds Weigh In On CGI

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in CGI by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock worth $840,109,000 after buying an additional 64,037 shares in the last quarter. Fiera Capital Corp lifted its holdings in CGI by 1.9% in the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock worth $426,353,000 after buying an additional 79,303 shares in the last quarter. TD Asset Management Inc lifted its holdings in CGI by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock worth $219,873,000 after buying an additional 43,355 shares in the last quarter. Cibc World Market Inc. lifted its holdings in CGI by 6.2% in the 2nd quarter. Cibc World Market Inc. now owns 1,803,131 shares of the technology company’s stock worth $180,025,000 after buying an additional 105,817 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of CGI by 3,776.8% in the 1st quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after purchasing an additional 681,747 shares in the last quarter. 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.