UBS Group Forecasts Strong Price Appreciation for CGI (NYSE:GIB) Stock

CGI (NYSE:GIB) (TSE:GIB.A) had its price objective upped by equities research analysts at UBS Group from $118.00 to $122.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. UBS Group’s price objective points to a potential upside of 3.24% from the stock’s previous close.

GIB has been the subject of several other reports. Jefferies Financial Group lowered their price objective on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $178.00 price target on shares of CGI in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $153.25.

CGI Stock Performance

CGI stock opened at $118.17 on Monday. CGI has a 52 week low of $96.92 and a 52 week high of $121.55. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The stock has a market cap of $26.79 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 2.59 and a beta of 0.94. The stock has a 50 day moving average of $111.19 and a 200-day moving average of $111.55.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. On average, analysts expect that CGI will post 5.79 EPS for the current fiscal year.

Institutional Trading of CGI

Several hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of CGI in the third quarter valued at approximately $28,000. Sierra Ocean LLC acquired a new stake in CGI in the 4th quarter valued at approximately $62,000. Blue Trust Inc. raised its stake in CGI by 288.2% during the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after acquiring an additional 585 shares in the last quarter. CWM LLC boosted its position in CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after acquiring an additional 176 shares during the period. Finally, Olympiad Research LP bought a new position in shares of CGI in the fourth quarter worth $203,000. 66.68% of the stock is currently owned by institutional investors.

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.