StockNews.com Upgrades CGI (NYSE:GIB) to “Hold”

StockNews.com upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Several other equities analysts also recently commented on the company. UBS Group began coverage on CGI in a research report on Friday, July 19th. They issued a “neutral” rating and a $112.00 price objective on the stock. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price target for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Finally, Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $137.00.

CGI Stock Up 2.0 %

Shares of GIB opened at $109.59 on Friday. The company has a market cap of $24.98 billion, a PE ratio of 20.37, a P/E/G ratio of 2.27 and a beta of 0.96. CGI has a 52-week low of $96.92 and a 52-week high of $118.89. The business has a fifty day moving average of $113.66 and a 200 day moving average of $108.03. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29.

CGI Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a $0.111 dividend. The ex-dividend date is Wednesday, November 20th. This represents a dividend yield of 0.4%.

Institutional Trading of CGI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new position in shares of CGI during the 1st quarter worth approximately $5,529,000. Fiera Capital Corp grew its holdings in shares of CGI by 1.9% during the 2nd quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock worth $426,353,000 after purchasing an additional 79,303 shares during the period. Canada Pension Plan Investment Board increased its position in shares of CGI by 8.7% during the first quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company’s stock valued at $76,467,000 after acquiring an additional 55,499 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in CGI by 14.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company’s stock valued at $4,127,000 after purchasing an additional 5,213 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of CGI in the third quarter valued at $4,539,000. 66.68% of the stock is owned by institutional investors and hedge funds.

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.