CGI Inc. (NYSE:GIB) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given an average recommendation of “Buy” by the five analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $137.00.

Several equities analysts recently weighed in on the stock. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. UBS Group assumed coverage on shares of CGI in a research note on Friday, July 19th. They set a “neutral” rating and a $112.00 target price for the company. Jefferies Financial Group increased their price objective on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price objective for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th.

CGI Stock Performance

Shares of NYSE GIB opened at $113.99 on Thursday. The firm has a fifty day moving average price of $113.35 and a 200-day moving average price of $107.02. 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 stock has a market cap of $26.31 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95. CGI has a 1 year low of $93.07 and a 1 year high of $118.89.

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

Institutional Investors Weigh In On CGI

Several institutional investors have recently made changes to their positions in GIB. Wellington Management Group LLP lifted its holdings in shares of 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 bought a new stake in shares of CGI in the 4th quarter worth about $398,000. CWM LLC increased its stake in CGI by 19.1% in the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock worth $131,000 after buying an additional 190 shares during the period. Park Avenue Securities LLC increased its stake in 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 period. Finally, First Affirmative Financial Network increased its stake in CGI by 9.1% in the 1st quarter. First Affirmative Financial Network now owns 2,732 shares of the technology company’s stock worth $302,000 after buying an additional 229 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.