CGI Inc. (NYSE:GIB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus rating of “Moderate Buy” by the five research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $132.67.

Several research firms have commented on GIB. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Jefferies Financial Group lifted their price objective on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. UBS Group began coverage on CGI in a research report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price target on the stock. Finally, Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research report on Thursday, August 1st.

CGI Stock Performance

Shares of CGI stock opened at $112.76 on Friday. The business has a 50-day simple moving average of $109.95 and a 200-day simple moving average of $106.77. The company has a market cap of $26.02 billion, a PE ratio of 21.73, a P/E/G ratio of 2.67 and a beta of 0.95. CGI has a one year low of $93.07 and a one year high of $118.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, hitting analysts’ consensus estimates of $1.40. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. CGI had a net margin of 11.51% and a return on equity of 20.21%. On average, equities research analysts forecast that CGI will post 5.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GIB. Vanguard Group Inc. grew its position in CGI by 0.8% during the first 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 lifted its position in shares of CGI by 1.9% in the second 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 in the last quarter. TD Asset Management Inc lifted its position 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 valued at $219,873,000 after acquiring an additional 43,355 shares in the last quarter. Cibc World Market Inc. raised 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 valued at $180,025,000 after purchasing an additional 105,817 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in CGI by 54.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock valued at $78,818,000 after purchasing an additional 258,651 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

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.