CGI (NYSE:GIB) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of CGI (NYSE:GIB) (TSE:GIB.A) from a hold rating to a sell rating in a research note released on Thursday morning.

Several other brokerages have also issued reports on GIB. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Jefferies Financial Group upped their target price on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. UBS Group started coverage on shares of CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CGI currently has a consensus rating of “Moderate Buy” and an average target price of $137.00.

CGI Trading Down 1.2 %

Shares of CGI stock opened at $111.15 on Thursday. The firm has a market capitalization of $25.33 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 0.86. The company’s fifty day moving average price is $113.97 and its two-hundred day moving average price is $107.66. CGI has a 52-week low of $96.92 and a 52-week high of $118.89.

CGI Announces Dividend

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

Institutional Investors Weigh In On CGI

A number of hedge funds have recently added to or reduced their stakes in the stock. Crestwood Advisors Group LLC grew its holdings in CGI by 2.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock worth $485,000 after acquiring an additional 97 shares during the last quarter. First Affirmative Financial Network lifted its position in CGI by 4.0% during the 2nd quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock valued at $284,000 after purchasing an additional 109 shares during the period. West Family Investments Inc. lifted its position in CGI by 5.5% during the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock valued at $267,000 after purchasing an additional 121 shares during the period. Cigna Investments Inc. New lifted its position in CGI by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock valued at $394,000 after purchasing an additional 146 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in CGI by 9.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after purchasing an additional 173 shares during the period. 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.