CGI (NYSE:GIB) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) to a strong-buy rating in a report released on Thursday morning, Zacks.com reports.

A number of other analysts also recently weighed in on GIB. CIBC downgraded CGI from a sector outperform rating to a neutral rating in a research report on Friday, June 21st. Jefferies Financial Group upped their price objective 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. TD Securities raised shares of CGI from a hold rating to a buy rating in a research note on Thursday, May 2nd. Finally, UBS Group assumed coverage on CGI in a research note on Friday, July 19th. They set a neutral rating and a $112.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $132.67.

CGI Stock Down 2.3 %

Shares of NYSE:GIB opened at $108.91 on Thursday. The firm has a fifty day moving average of $103.04 and a 200 day moving average of $107.23. CGI has a 52-week low of $93.07 and a 52-week high of $118.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16. The firm has a market capitalization of $25.13 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.59 and a beta of 0.95.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of CGI by 0.8% during the first quarter. Vanguard Group Inc. now owns 7,603,481 shares of the technology company’s stock valued at $840,109,000 after buying an additional 64,037 shares during the period. Fiera Capital Corp boosted its stake in shares of CGI by 1.9% during the 2nd 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 in the last quarter. National Bank of Canada FI increased its position in shares of CGI by 3.6% during the fourth quarter. National Bank of Canada FI now owns 3,711,372 shares of the technology company’s stock valued at $385,239,000 after buying an additional 129,020 shares during the period. Norges Bank bought a new position in CGI in the fourth quarter worth about $273,239,000. Finally, TD Asset Management Inc lifted its holdings in CGI by 2.0% in the second quarter. TD Asset Management Inc now owns 2,203,320 shares of the technology company’s stock worth $219,873,000 after buying an additional 43,355 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

About CGI

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.