Jefferies Financial Group Lowers CGI (NYSE:GIB) Price Target to $135.00

CGI (NYSE:GIB) (TSE:GIB.A) had its price objective lowered by equities researchers at Jefferies Financial Group from $140.00 to $135.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 21.23% from the stock’s previous close.

Several other brokerages also recently weighed in on GIB. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price target for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price objective on shares of CGI in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $150.75.

CGI Stock Performance

NYSE GIB opened at $111.36 on Tuesday. The firm has a market cap of $25.38 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.33 and a beta of 0.95. The company has a 50-day simple moving average of $110.38 and a two-hundred day simple moving average of $110.92. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. CGI has a 12-month low of $96.92 and a 12-month high of $118.89.

Institutional Trading of CGI

A number of institutional investors have recently made changes to their positions in GIB. Canoe Financial LP bought a new position in CGI during the fourth quarter valued at approximately $94,390,000. National Bank of Canada FI raised its stake in CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after buying an additional 861,771 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of CGI by 68.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after buying an additional 555,017 shares during the period. Barclays PLC boosted its stake in shares of CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after buying an additional 308,040 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of CGI by 1.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after acquiring an additional 230,000 shares during the period. Hedge funds and other institutional investors 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.