CGI (NYSE:GIB) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a research note released on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $120.00 target price on the technology company’s stock.

Several other equities analysts have also recently issued reports on the company. TD Securities upgraded CGI from a hold rating to a buy rating in a research report on Thursday, May 2nd. StockNews.com cut CGI from a buy rating to a hold rating in a research report on Monday, March 11th. Finally, CIBC cut CGI from a sector outperform rating to a neutral rating in a research report on Friday, June 21st.

CGI Stock Performance

Shares of GIB stock opened at $102.19 on Tuesday. The stock has a market capitalization of $23.58 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. CGI has a 52-week low of $93.07 and a 52-week high of $118.89. The stock’s 50-day moving average price is $101.60 and its 200 day moving average price is $107.15. The company has a quick ratio of 0.86, a current ratio of 1.17 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.02. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. CGI had a return on equity of 20.43% and a net margin of 11.38%. As a group, equities research analysts forecast that CGI will post 5.58 EPS for the current year.

Institutional Investors Weigh In On CGI

Institutional investors have recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its stake in shares of CGI by 297.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock worth $29,000 after acquiring an additional 202 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of CGI during the 1st quarter worth approximately $30,000. UMB Bank n.a. boosted its stake in shares of CGI by 9,916.7% during the 1st quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock worth $66,000 after acquiring an additional 595 shares in the last quarter. CWM LLC boosted its stake in shares of CGI by 19.1% during the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock worth $131,000 after acquiring an additional 190 shares in the last quarter. Finally, Tritonpoint Wealth LLC purchased a new stake in shares of CGI during the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors 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.