Jefferies Financial Group Boosts CGI (NYSE:GIB) Price Target to $121.00

CGI (NYSE:GIB) (TSE:GIB.A) had its price target increased by Jefferies Financial Group from $120.00 to $121.00 in a report released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the technology company’s stock.

GIB has been the topic of several other research reports. TD Securities raised shares of CGI from a hold rating to a buy rating in a research note on Thursday, May 2nd. CIBC cut shares of CGI from a sector outperform rating to a neutral rating in a report on Friday, June 21st.

CGI Stock Performance

Shares of GIB opened at $106.47 on Tuesday. The firm’s 50 day moving average is $101.99 and its 200-day moving average is $106.91. The stock has a market capitalization of $24.57 billion, a P/E ratio of 20.51, a P/E/G ratio of 2.48 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. CGI has a 12-month low of $93.07 and a 12-month high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.02. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. Equities research analysts anticipate that CGI will post 5.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Affirmative Financial Network boosted its holdings 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 worth $284,000 after buying an additional 109 shares during the period. Janiczek Wealth Management LLC boosted its holdings in shares of CGI by 4.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 3,340 shares of the technology company’s stock worth $358,000 after purchasing an additional 143 shares during the period. Cigna Investments Inc. New boosted its holdings in shares of CGI by 3.8% during the second 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. Sequoia Financial Advisors LLC boosted its holdings in shares of CGI by 0.5% during the first quarter. Sequoia Financial Advisors LLC now owns 30,933 shares of the technology company’s stock worth $3,418,000 after purchasing an additional 149 shares during the period. Finally, JCIC Asset Management Inc. boosted its holdings in shares of CGI by 0.5% during the first quarter. JCIC Asset Management Inc. now owns 32,860 shares of the technology company’s stock worth $3,627,000 after purchasing an additional 160 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Company Profile

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.