CGI (NYSE:GIB) Upgraded by CIBC to Outperformer

CIBC upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a neutral rating to an outperformer rating in a research note published on Tuesday morning, Marketbeat.com reports. The firm currently has $178.00 price target on the technology company’s stock, up from their previous price target of $155.00.

Several other equities analysts have also recently weighed in on the stock. Sanford C. Bernstein upgraded shares of CGI to a strong-buy rating in a research report on Thursday, August 1st. UBS Group began coverage on CGI in a research report on Friday, July 19th. They issued a neutral rating and a $112.00 target price for the company. Finally, Jefferies Financial Group upped their price target on CGI from $120.00 to $121.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CGI currently has an average rating of Moderate Buy and an average price target of $137.00.

CGI Stock Down 0.0 %

Shares of CGI stock opened at $115.46 on Tuesday. 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 has a 12-month low of $93.07 and a 12-month high of $118.89. The firm has a market capitalization of $26.64 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95. The stock’s fifty day moving average is $112.34 and its 200-day moving average is $106.72.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $2.67 billion. Equities analysts anticipate that CGI will post 5.55 earnings per share for the current year.

Institutional Trading of CGI

Hedge funds and other institutional investors have recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in CGI in the 1st quarter worth about $30,000. CWM LLC lifted its stake in CGI by 19.1% in the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after acquiring an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after acquiring an additional 173 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of CGI during the 1st quarter worth $226,000. Finally, CreativeOne Wealth LLC bought a new position in shares of CGI during the 1st quarter valued at $228,000. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

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.