CIBC Upgrades CGI (NYSE:GIB) to Outperformer

CGI (NYSE:GIB) (TSE:GIB.A) was upgraded by investment analysts at CIBC from a “neutral” rating to an “outperformer” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $178.00 price objective on the technology company’s stock, up from their previous price objective of $155.00. CIBC’s price target suggests a potential upside of 55.23% from the company’s previous close.

GIB has been the topic of a number of other reports. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. UBS Group started coverage on shares of CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 target price for the company. Finally, Jefferies Financial Group lifted their price target on shares of CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $137.00.

CGI Stock Down 0.7 %

CGI stock opened at $114.67 on Tuesday. CGI has a fifty-two week low of $93.07 and a fifty-two 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’s 50-day simple moving average is $112.51 and its 200 day simple moving average is $106.78. The stock has a market cap of $26.46 billion, a PE ratio of 22.09, a price-to-earnings-growth 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, meeting the consensus estimate of $1.40. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. Research analysts predict that CGI will post 5.55 EPS for the current fiscal year.

Hedge Funds Weigh In On CGI

Several large investors have recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of CGI during the 1st quarter valued at approximately $30,000. CWM LLC lifted its position in shares of CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock worth $131,000 after acquiring an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after acquiring an additional 173 shares during the period. Tidal Investments LLC purchased a new position in shares of CGI in the first quarter valued at $226,000. Finally, CreativeOne Wealth LLC bought a new stake in shares of CGI during the 1st quarter valued at $228,000. 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.