CGI (NYSE:GIB) Upgraded by StockNews.com to “Hold” Rating

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

Several other analysts have also recently weighed in on the stock. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. UBS Group began coverage on CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target on the stock. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and lifted their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Two investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $137.00.

CGI Stock Up 0.3 %

GIB stock opened at $107.39 on Friday. The company’s 50 day moving average is $113.74 and its 200 day moving average is $107.98. The stock has a market cap of $24.48 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. CGI has a 1-year low of $96.92 and a 1-year high of $118.89.

CGI Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in shares of CGI in the 1st quarter valued at about $5,529,000. Fiera Capital Corp boosted its stake in shares of CGI by 1.9% during the second quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock valued at $426,353,000 after purchasing an additional 79,303 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of CGI by 8.7% in the first quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company’s stock worth $76,467,000 after purchasing an additional 55,499 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in shares of CGI by 14.4% in the second 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 during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of CGI in the third quarter worth $4,539,000. 66.68% of the stock is 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.