CGI (NYSE: GIB) (TSE: GIB.A) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The brokerage currently has a price target of $ 94.00 on shares of the tech company. Zacks Investment Research’s target price suggests a potential rise of 10.77% from the company’s current price.
According to Zacks, “CGI provides the full range of IT services, including consulting, systems integration, and management of business and IT functions. The main focus of the business is large scale systems integration and outsourcing contracts.
Other equity research analysts have also recently published reports on the company. Stifel Nicolaus kicked off coverage on CGI in a research note on Thursday, December 2. They set a “buy” rating for the business. Canaccord Genuity raised its price target on CGI from C $ 125 to C $ 130.00 and gave the stock a “buy” rating in a research note on Thursday, November 11. Desjardins reissued a “buy” rating and set a price target of C $ 132.00 for CGI shares in a report released on Sunday, November 14. Royal Bank of Canada increased its price target on CGI from C $ 125 to C $ 127.00 and gave the company an “outperformance” rating in a report released on Thursday, November 11. Finally, CIBC increased its price target on CGI from C $ 123.00 to C $ 130.00 and assigned the company a “outperform” rating in a report released on Thursday, November 11. One analyst assigned a sell rating to the stock, another assigned a conservation rating, and thirteen assigned a buy rating to the company’s stock. According to MarketBeat.com, CGI currently has an average rating of “Buy” and a consensus target price of $ 120.08.
CGI’s stock traded up $ 0.75 at midday on Friday, reaching $ 84.86. The company’s shares traded 316,140 shares, compared to its average volume of 154,081. The company’s 50-day moving average is $ 87.82 and its 200-day moving average is of $ 89.15. The company has a market cap of $ 20.80 billion, a PE ratio of 19.83, a price / earnings-growth ratio of 2.21 and a beta of 1.04. The company has a leverage ratio of 0.43, a current ratio of 1.25, and a quick ratio of 0.98. CGI has a 52 week low of $ 74.58 and a 52 week high of $ 93.93.
CGI (NYSE: GIB) (TSE: GIB.A) last reported its quarterly results on Wednesday, November 10. The tech company reported earnings per share (EPS) of $ 1.13 for the quarter, beating the consensus estimate of $ 1.09 by $ 0.04. CGI achieved a return on equity of 20.14% and a net margin of 11.29%. During the same period of the previous year, the company posted earnings of $ 0.92 per share. As a group, analysts predict CGI will post 4.71 EPS for the current year.
Several hedge funds and other institutional investors have recently increased or reduced their holdings in GIB. PNC Financial Services Group Inc. increased its stake in CGI shares by 8.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,470 shares of the technology company valued at $ 124,000 after purchasing 114 additional shares during the period. Intercontinental Wealth Advisors LLC increased its stake in CGI shares by 1.6% during the second quarter. Intercontinental Wealth Advisors LLC now owns 7,593 shares of the tech company valued at $ 689,000 after purchasing 116 additional shares during the period. Signaturefd LLC increased its stake in CGI shares by 3.2% during the third quarter. Signaturefd LLC now owns 4,052 shares of the technology company valued at $ 343,000 after purchasing an additional 125 shares during the period. Arkadios Wealth Advisors increased its stake in CGI shares by 100.0% during the second quarter. Arkadios Wealth Advisors now owns 408 shares of the tech company valued at $ 36,000 after purchasing 204 additional shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in CGI shares by 2.9% during the second quarter. Commonwealth Equity Services LLC now owns 9,610 shares of the tech company valued at $ 870,000 after purchasing an additional 271 shares during the period. 51.98% of the capital is held by institutional investors.
CGI, Inc. provides information technology (IT) and consulting services. It operates in the following segments: Northern Europe, Canada, France, United States Commercial and State Government, United States Federal Government, United Kingdom, Eastern, Central and Southern Europe (ECS) and Global Centers of Excellence Asia-Pacific Service Delivery (APC).
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