CGI (NYSE:GIB) Lifted to “Strong-Buy” at Cibc World Mkts

CGI (NYSE:GIB) (TSE:GIB.A) was upgraded by investment analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group raised their price objective on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and lifted their price objective for the stock from $155.00 to $178.00 in a research note on Tuesday. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, UBS Group initiated coverage on shares of CGI in a research note on Friday, July 19th. They set a “neutral” rating and a $112.00 price target for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $137.00.

CGI Stock Down 0.0 %

NYSE GIB opened at $115.46 on Tuesday. The stock has a 50 day moving average price of $112.34 and a 200-day moving average price of $106.72. CGI has a one year low of $93.07 and a one year high of $118.89. The company has a market capitalization of $26.64 billion, a P/E ratio of 22.25, a P/E/G ratio of 2.45 and a beta of 0.95. 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 quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, hitting analysts’ consensus estimates of $1.40. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. CGI had a net margin of 11.51% and a return on equity of 20.21%. As a group, equities analysts predict that CGI will post 5.55 EPS for the current fiscal year.

Institutional Trading of CGI

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in CGI in the 1st quarter worth about $5,529,000. Henry James International Management Inc. grew its stake in CGI by 7.2% in the first quarter. Henry James International Management Inc. now owns 82,029 shares of the technology company’s stock worth $9,063,000 after purchasing an additional 5,517 shares in the last quarter. Fiera Capital Corp increased its holdings in 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 lifted its holdings in shares of CGI by 8.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company’s stock worth $76,467,000 after buying an additional 55,499 shares during the period. Finally, GHP Investment Advisors Inc. grew its position in shares of CGI by 14.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company’s stock worth $4,127,000 after buying an additional 5,213 shares in the last quarter. Hedge funds and other 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.