CGI (NYSE:GIB) Receives Outperform Rating from Royal Bank of Canada

CGI (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They presently have a $178.00 price target on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 60.61% from the stock’s current price.

A number of other analysts also recently weighed in on GIB. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price target for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two investment 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 stock. According to MarketBeat.com, CGI has a consensus rating of “Buy” and a consensus target price of $147.25.

CGI Stock Performance

Shares of CGI stock traded up $1.07 during trading on Monday, reaching $110.83. The company’s stock had a trading volume of 21,005 shares, compared to its average volume of 84,784. CGI has a one year low of $96.92 and a one year high of $118.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The firm has a market cap of $25.26 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.55 and a beta of 0.94. The business’s fifty day moving average price is $111.27 and its 200-day moving average price is $110.24.

Institutional Trading of CGI

A number of large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in CGI in the third quarter valued at about $28,000. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 585 shares in the last quarter. CWM LLC increased its stake 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 purchasing an additional 176 shares in the last quarter. Werba Rubin Papier Wealth Management bought a new position in CGI in the third quarter valued at approximately $208,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of CGI in the third quarter valued at approximately $209,000. 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.