CGI Inc. (NYSE:GIB) Given Consensus Recommendation of “Buy” by Brokerages

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has earned an average rating of “Buy” from the five research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $137.00.

A number of brokerages recently weighed in 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 objective on the stock. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Sanford C. Bernstein raised CGI to a “strong-buy” rating in a report on Thursday, August 1st. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and upped their target price for the company from $155.00 to $178.00 in a report on Tuesday. Finally, Jefferies Financial Group upped their target price on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th.

CGI Trading Down 0.7 %

Shares of GIB stock opened at $114.67 on Thursday. The business’s fifty day moving average price is $112.51 and its 200 day moving average price is $106.78. CGI has a 1-year low of $93.07 and a 1-year high of $118.89. The firm has a market capitalization of $26.46 billion, a PE ratio of 22.09, a P/E/G ratio of 2.45 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86.

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

Institutional Trading of CGI

Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of CGI by 3,776.8% during the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after acquiring an additional 681,747 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of CGI by 9,135.3% during the first quarter. Bessemer Group Inc. now owns 126,986 shares of the technology company’s stock valued at $14,011,000 after acquiring an additional 125,611 shares during the last quarter. Andra AP fonden acquired a new stake in shares of CGI during the second quarter valued at $11,418,000. Dimensional Fund Advisors LP boosted its stake in shares of CGI by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock valued at $62,394,000 after acquiring an additional 113,903 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in shares of CGI during the second quarter valued at $11,222,000. Institutional investors and hedge funds 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.