StockNews.com Upgrades CGI (NYSE:GIB) to “Hold”

CGI (NYSE:GIB) (TSE:GIB.A) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

GIB has been the topic of a number of other reports. UBS Group began coverage on CGI in a report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target on the stock. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their target price for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, Sanford C. Bernstein raised CGI to a “strong-buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $137.00.

CGI Stock Up 0.3 %

NYSE:GIB opened at $107.39 on Friday. The firm has a 50-day simple moving average of $113.74 and a two-hundred day simple moving average of $107.87. The firm has a market cap of $24.48 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.37 and a beta of 0.96. CGI has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36.

Institutional Investors Weigh In On CGI

Institutional investors and hedge funds have recently modified their holdings of the stock. Crestwood Advisors Group LLC grew its holdings in shares of CGI by 2.4% in the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock valued at $485,000 after purchasing an additional 97 shares in the last quarter. First Affirmative Financial Network raised its stake in shares of CGI by 4.0% in the second quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock valued at $284,000 after acquiring an additional 109 shares during the period. West Family Investments Inc. lifted its holdings in shares of CGI by 5.5% in the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock worth $267,000 after acquiring an additional 121 shares during the last quarter. Cigna Investments Inc. New boosted its stake in shares of CGI by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock worth $394,000 after purchasing an additional 146 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in CGI by 9.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after purchasing an additional 173 shares during the last quarter. 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.