Brokerages Set CGI Inc. (NYSE:GIB) Target Price at $132.67

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $132.67.

A number of research firms have recently issued reports on GIB. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research report on Thursday, August 1st. CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a research note on Friday, June 21st. Jefferies Financial Group boosted their target price on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, UBS Group began coverage on CGI in a report on Friday, July 19th. They issued a “neutral” rating and a $112.00 target price on the stock.

CGI Trading Up 2.3 %

NYSE:GIB opened at $116.40 on Friday. The stock has a market capitalization of $26.86 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.63 and a beta of 0.95. CGI has a 1 year low of $93.07 and a 1 year high of $118.89. The stock has a fifty day moving average price of $110.40 and a two-hundred day moving average price of $106.71. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.16.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.40. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. CGI had a net margin of 11.51% and a return on equity of 20.21%. As a group, sell-side analysts anticipate that CGI will post 5.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CGI

A number of large investors have recently bought and sold shares of the stock. Assetmark Inc. raised its holdings in shares of CGI by 6,175.4% in the fourth quarter. Assetmark Inc. now owns 3,577 shares of the technology company’s stock worth $383,000 after acquiring an additional 3,520 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in CGI by 54.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 735,174 shares of the technology company’s stock valued at $78,818,000 after purchasing an additional 258,651 shares during the last quarter. Trexquant Investment LP purchased a new position in CGI in the 4th quarter valued at about $954,000. Intech Investment Management LLC purchased a new position in CGI in the 1st quarter valued at about $5,529,000. Finally, Henry James International Management Inc. boosted its stake in shares of CGI by 7.2% during the 1st quarter. Henry James International Management Inc. now owns 82,029 shares of the technology company’s stock worth $9,063,000 after purchasing an additional 5,517 shares during the last quarter. Institutional investors and hedge funds 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.