CGI (NYSE:GIB) Stock Rating Upgraded by Sanford C. Bernstein

CGI (NYSE:GIB) (TSE:GIB.A) was upgraded by equities researchers at Sanford C. Bernstein to a “strong-buy” rating in a note issued to investors on Thursday, Zacks.com reports.

A number of other research analysts have also weighed in on GIB. Jefferies Financial Group upped their price objective on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. TD Securities upgraded CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. UBS Group started coverage on CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 target price on the stock. Finally, CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.67.

CGI Trading Down 2.3 %

NYSE:GIB opened at $108.90 on Thursday. The firm has a market cap of $25.13 billion, a P/E ratio of 20.98, a PEG ratio of 2.59 and a beta of 0.95. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $103.04 and its 200-day simple moving average is $107.20. 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 for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. CGI had a return on equity of 20.21% and a net margin of 11.51%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. Equities analysts anticipate that CGI will post 5.53 EPS for the current year.

Institutional Investors Weigh In On CGI

Several institutional investors and hedge funds have recently added to or reduced their stakes in GIB. Hexagon Capital Partners LLC grew its stake in shares of CGI by 297.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after buying an additional 202 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of CGI in the first quarter valued at about $30,000. UMB Bank n.a. grew its stake in shares of CGI by 9,916.7% in the first quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock valued at $66,000 after buying an additional 595 shares in the last quarter. CWM LLC grew its stake in shares of CGI by 19.1% in the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after buying an additional 190 shares in the last quarter. Finally, Tritonpoint Wealth LLC acquired a new stake in shares of CGI in the fourth quarter valued at about $205,000. 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.