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

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given an average recommendation of “Moderate Buy” by the five analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $132.67.

A number of brokerages have recently commented on GIB. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a research report on Thursday, August 1st. 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 for the company. Jefferies Financial Group lifted their price objective on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st.

Institutional Investors Weigh In On CGI

A number of institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in CGI during the second quarter valued at about $2,907,000. APG Asset Management N.V. boosted its position in shares of CGI by 32.4% in the second quarter. APG Asset Management N.V. now owns 256,013 shares of the technology company’s stock worth $23,837,000 after buying an additional 62,649 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of CGI by 184.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,765 shares of the technology company’s stock worth $2,871,000 after buying an additional 18,644 shares during the period. Evergreen Capital Management LLC boosted its position in shares of CGI by 6.7% in the second quarter. Evergreen Capital Management LLC now owns 3,437 shares of the technology company’s stock worth $343,000 after buying an additional 215 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Stock Performance

NYSE GIB opened at $114.22 on Friday. CGI has a fifty-two week low of $93.07 and a fifty-two week high of $118.89. The stock has a market cap of $26.36 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95. The business has a fifty day moving average of $110.76 and a 200-day moving average of $106.75. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, meeting analysts’ consensus estimates of $1.40. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. As a group, analysts predict that CGI will post 5.55 earnings per share for the current fiscal year.

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.