CGI (NYSE:GIB) Rating Increased to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning, Zacks.com reports.

A number of other research analysts also recently weighed in on the stock. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price objective for the company from $155.00 to $178.00 in a research report on Tuesday. Jefferies Financial Group raised their price target on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, UBS Group began coverage on CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, CGI currently has an average rating of “Buy” and an average target price of $137.00.

CGI Stock Up 0.5 %

GIB stock opened at $116.30 on Tuesday. The stock has a market capitalization of $26.84 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.45 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 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 business has a fifty day moving average price of $112.91 and a 200-day moving average price of $106.89.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.40. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. Equities analysts forecast that CGI will post 5.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CGI

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted 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 during the period. Fiera Capital Corp boosted its holdings in CGI by 1.9% during the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock valued at $426,353,000 after acquiring an additional 79,303 shares during the period. TD Asset Management Inc grew its holdings in shares of CGI by 2.0% in the second quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock worth $219,873,000 after purchasing an additional 43,355 shares during the last quarter. Cibc World Market Inc. grew its stake 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 acquiring an additional 105,817 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in CGI by 3,776.8% in the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock worth $77,381,000 after purchasing an additional 681,747 shares in the last quarter. 66.68% of the stock is owned by 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.