Jefferies Financial Group Initiates Coverage on CGI (NYSE:GIB)

Equities researchers at Jefferies Financial Group assumed coverage on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a report released on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $120.00 price target on the technology company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 17.39% from the stock’s current price.

Several other equities research analysts have also weighed in on GIB. TD Securities raised CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. CIBC lowered CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Finally, StockNews.com cut CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th.

CGI Stock Performance

CGI stock opened at $102.22 on Tuesday. The stock has a market cap of $23.59 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 2.31 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $101.66 and a 200-day moving average of $107.18. CGI has a 52 week low of $93.07 and a 52 week high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.02. CGI had a return on equity of 20.43% and a net margin of 11.38%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. On average, analysts expect that CGI will post 5.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GIB. Hexagon Capital Partners LLC boosted its stake in CGI by 297.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after buying an additional 202 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in CGI during the first quarter valued at about $30,000. UMB Bank n.a. boosted its stake in CGI by 9,916.7% during the first quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock valued at $66,000 after buying an additional 595 shares in the last quarter. CWM LLC boosted its stake in CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after buying an additional 190 shares in the last quarter. Finally, Tritonpoint Wealth LLC bought a new position in CGI during the fourth quarter valued at about $205,000. 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.