CGI (NYSE:GIB) Raised to Outperformer at CIBC

CIBC upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a neutral rating to an outperformer rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $178.00 target price on the technology company’s stock, up from their previous target price of $155.00.

A number of other analysts have also recently commented on GIB. UBS Group began coverage on shares of CGI in a report on Friday, July 19th. They set a “neutral” rating and a $112.00 target price on the stock. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group raised their target price on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Two research 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. According to data from MarketBeat, CGI currently has an average rating of “Buy” and a consensus target price of $137.00.

CGI Stock Performance

Shares of GIB opened at $115.77 on Tuesday. The company has a 50-day simple moving average of $112.72 and a two-hundred day simple moving average of $106.84. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. The firm has a market capitalization of $26.72 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95. CGI has a one year low of $93.07 and a one year high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, July 31st. The technology company reported $1.40 EPS for the quarter, meeting analysts’ consensus estimates of $1.40. CGI had a return on equity of 20.21% and a net margin of 11.51%. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, analysts anticipate that CGI will post 5.55 EPS for the current fiscal year.

Institutional Trading of CGI

A number of institutional investors and hedge funds have recently bought and sold shares of GIB. Walter Public Investments Inc. grew its holdings in shares of CGI by 10.5% during the third quarter. Walter Public Investments Inc. now owns 227,796 shares of the technology company’s stock valued at $26,194,000 after buying an additional 21,582 shares during the last quarter. Creative Planning boosted its stake in CGI by 16.1% during the 3rd quarter. Creative Planning now owns 25,179 shares of the technology company’s stock valued at $2,895,000 after purchasing an additional 3,490 shares during the last quarter. CWM LLC increased its holdings in shares of CGI by 14.8% in the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock worth $157,000 after purchasing an additional 176 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of CGI in the second quarter worth $2,907,000. Finally, APG Asset Management N.V. lifted its holdings in shares of CGI by 32.4% during the second quarter. APG Asset Management N.V. now owns 256,013 shares of the technology company’s stock valued at $23,837,000 after purchasing an additional 62,649 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors.

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.