CGI (NYSE:GIB) Lifted to “Outperformer” at CIBC

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

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

CGI Trading Up 0.9 %

Shares of NYSE:GIB opened at $115.77 on Tuesday. The stock has a 50 day moving average of $112.72 and a 200 day moving average of $106.84. The company has a market cap 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 12-month low of $93.07 and a 12-month high of $118.89. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.40. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. CGI had a net margin of 11.51% and a return on equity of 20.21%. As a group, equities research analysts expect that CGI will post 5.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in CGI by 44.0% in the 4th quarter. Wellington Management Group LLP now owns 62,684 shares of the technology company’s stock worth $6,748,000 after acquiring an additional 19,141 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in CGI during the fourth quarter valued at $398,000. CWM LLC lifted its position 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 purchasing an additional 190 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of CGI by 14.4% in the 1st quarter. Park Avenue Securities LLC now owns 5,461 shares of the technology company’s stock worth $603,000 after buying an additional 687 shares during the last quarter. Finally, First Affirmative Financial Network raised its position in shares of CGI by 9.1% during the 1st quarter. First Affirmative Financial Network now owns 2,732 shares of the technology company’s stock valued at $302,000 after buying an additional 229 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.