CGI (NYSE:GIB) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $120.00 price objective on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. TD Securities raised shares of CGI from a hold rating to a buy rating in a report on Thursday, May 2nd. CIBC lowered shares of CGI from a sector outperform rating to a neutral rating in a research report on Friday, June 21st. Finally, StockNews.com lowered shares of CGI from a buy rating to a hold rating in a research report on Monday, March 11th.

CGI Trading Up 2.4 %

Shares of GIB stock opened at $101.38 on Tuesday. The company’s fifty day simple moving average is $101.74 and its two-hundred day simple moving average is $107.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. CGI has a 1 year low of $93.07 and a 1 year high of $118.89. The stock has a market capitalization of $23.40 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.31 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.02. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. As a group, analysts anticipate that CGI will post 5.57 earnings per share for the current year.

Institutional Trading of CGI

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in CGI by 1.8% during the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock valued at $746,389,000 after buying an additional 132,166 shares during the period. Assetmark Inc. raised its stake in shares of CGI by 6,175.4% during the fourth quarter. Assetmark Inc. now owns 3,577 shares of the technology company’s stock valued at $383,000 after acquiring an additional 3,520 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new position in shares of CGI during the fourth quarter valued at about $1,409,000. Goldman Sachs Group Inc. raised its stake in shares of CGI by 54.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock valued at $78,818,000 after acquiring an additional 258,651 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of CGI during the fourth quarter valued at about $954,000. 66.68% of the stock is currently owned by hedge funds and other 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.