CGI (NYSE:GIB) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a sell rating to a hold rating in a research note released on Tuesday, August 7th.

According to Zacks, “CGI provides the full range of IT services including consulting, systems integration and the management of business and IT functions. The company’s primary focus is large scale systems integration and outsourcing contracts. “

GIB has been the subject of several other reports. Scotiabank downgraded CGI from an outperform rating to a sector perform rating in a report on Tuesday, July 17th. Barclays boosted their price target on CGI from $64.00 to $68.00 and gave the company an overweight rating in a report on Thursday, August 2nd. Finally, Desjardins cut shares of CGI from a buy rating to a hold rating in a research note on Wednesday, July 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $72.25.

Shares of NYSE:GIB opened at $64.51 on Tuesday. The company has a market cap of $18.16 billion, a PE ratio of 23.21, a PEG ratio of 2.25 and a beta of 0.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.68 and a current ratio of 0.99. CGI has a 12 month low of $49.35 and a 12 month high of $66.31.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.24. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.98 billion. CGI had a return on equity of 18.06% and a net margin of 9.33%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. analysts expect that CGI will post 3.18 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Daiwa SB Investments Ltd. purchased a new stake in CGI during the 2nd quarter worth $206,000. Dean Capital Investments Management LLC purchased a new stake in CGI during the 2nd quarter worth $397,000. Raymond James Financial Services Advisors Inc. purchased a new stake in CGI during the 2nd quarter worth $449,000. LPL Financial LLC boosted its position in CGI by 15.1% during the 4th quarter. LPL Financial LLC now owns 8,340 shares of the technology company’s stock worth $453,000 after purchasing an additional 1,091 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its position in CGI by 37.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 11,421 shares of the technology company’s stock worth $723,000 after purchasing an additional 3,140 shares during the period. 60.14% of the stock is owned by hedge funds and other institutional investors.

CGI Company Profile

CGI Group Inc provides information technology and business process services in Canada and internationally. It offers application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; business-to-business and customer operations support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services.

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