Jefferies Financial Group Cuts CGI (NYSE:GIB) Price Target to $135.00

CGI (NYSE:GIB) (TSE:GIB.A) had its target price decreased by analysts at Jefferies Financial Group from $140.00 to $135.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 22.64% from the company’s current price.

A number of other research firms have also weighed in on GIB. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price objective for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research note on Monday, January 6th. Finally, Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, CGI has a consensus rating of “Buy” and an average target price of $150.75.

CGI Stock Up 1.5 %

NYSE GIB traded up $1.59 on Tuesday, hitting $110.08. 59,194 shares of the company were exchanged, compared to its average volume of 134,851. The company has a market cap of $25.09 billion, a PE ratio of 20.46, a PEG ratio of 2.33 and a beta of 0.95. The stock has a fifty day moving average of $110.41 and a 200-day moving average of $110.85. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. CGI has a 12 month low of $96.92 and a 12 month high of $118.89.

Hedge Funds Weigh In On CGI

Large investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in CGI during the third quarter worth about $28,000. Blue Trust Inc. raised its stake in shares of CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after acquiring an additional 585 shares during the last quarter. CWM LLC lifted its position in CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after acquiring an additional 176 shares during the period. EverSource Wealth Advisors LLC raised its stake in CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after buying an additional 173 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management purchased a new stake in CGI during the 3rd quarter valued at about $208,000. 66.68% of the stock is owned by institutional investors.

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.