CGI (NYSE:GIB) Raised to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a hold rating to a strong-buy rating in a report published on Tuesday morning, Zacks.com reports.

A number of other research firms also recently commented on GIB. UBS Group assumed coverage on CGI in a report on Friday, July 19th. They issued a neutral rating and a $112.00 price objective on the stock. Sanford C. Bernstein upgraded shares of CGI to a strong-buy rating in a report on Thursday, August 1st. Jefferies Financial Group increased their price target on CGI from $120.00 to $121.00 and gave the company a buy rating in a report on Tuesday, July 16th. Finally, CIBC raised CGI from a neutral rating to an outperformer rating and raised their price objective for the company from $155.00 to $178.00 in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $137.00.

CGI Stock Performance

CGI stock opened at $115.46 on Tuesday. The stock has a fifty day moving average price of $112.34 and a 200 day moving average price of $106.72. 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 has a 52 week low of $93.07 and a 52 week high of $118.89. The firm has a market capitalization of $26.64 billion, a P/E ratio of 22.25, a PEG ratio of 2.45 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.40. The business had revenue of $2.68 billion for 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 research analysts anticipate that CGI will post 5.55 earnings per share for the current year.

Hedge Funds Weigh In On CGI

A number of hedge funds have recently bought and sold shares of GIB. Intech Investment Management LLC acquired a new position in shares of CGI in the 1st quarter worth approximately $5,529,000. Henry James International Management Inc. boosted its holdings in CGI by 7.2% in the first quarter. Henry James International Management Inc. now owns 82,029 shares of the technology company’s stock worth $9,063,000 after purchasing an additional 5,517 shares during the period. Fiera Capital Corp raised its stake in CGI by 1.9% during the second quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock worth $426,353,000 after acquiring an additional 79,303 shares during the period. Canada Pension Plan Investment Board lifted its holdings in 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 acquiring an additional 55,499 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in CGI by 14.4% in the second quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company’s stock valued at $4,127,000 after acquiring an additional 5,213 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.