CGI (NYSE:GIB) PT Raised to C$130.00

CGI (NYSE:GIBGet Rating) (TSE:GIB.A) had its price objective hoisted by investment analysts at Royal Bank of Canada from C$120.00 to C$130.00 in a note issued to investors on Thursday, The Fly reports.

GIB has been the topic of a number of other research reports. Societe Generale raised CGI from a “hold” rating to a “buy” rating in a research note on Friday, April 29th. StockNews.com raised CGI from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. BMO Capital Markets increased their target price on CGI from C$120.00 to C$125.00 in a research note on Thursday. Canaccord Genuity Group increased their target price on CGI from C$120.00 to C$125.00 in a research note on Thursday. Finally, TD Securities increased their target price on CGI from C$130.00 to C$135.00 in a research note on Thursday. Two research analysts have rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.13.

CGI Price Performance

Shares of GIB stock traded up $0.10 on Thursday, reaching $85.31. The company’s stock had a trading volume of 3,592 shares, compared to its average volume of 188,988. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.44. CGI has a 12-month low of $73.76 and a 12-month high of $93.93. The company has a market capitalization of $20.45 billion, a P/E ratio of 18.61, a PEG ratio of 2.24 and a beta of 0.96. The stock’s 50 day simple moving average is $81.43 and its 200-day simple moving average is $81.83.

CGI (NYSE:GIBGet Rating) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. CGI had a return on equity of 20.92% and a net margin of 11.49%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.52 billion. As a group, equities analysts predict that CGI will post 4.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CGI

Several large investors have recently made changes to their positions in GIB. Maverick Capital Ltd. purchased a new position in shares of CGI during the fourth quarter valued at approximately $27,000. CWM LLC purchased a new position in shares of CGI during the fourth quarter valued at approximately $64,000. Chilton Capital Management LLC purchased a new position in shares of CGI during the fourth quarter valued at approximately $133,000. JJJ Advisors Inc. lifted its holdings in shares of CGI by 28.0% during the first quarter. JJJ Advisors Inc. now owns 2,010 shares of the technology company’s stock valued at $161,000 after purchasing an additional 440 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of CGI by 44.7% during the fourth quarter. Bessemer Group Inc. now owns 2,160 shares of the technology company’s stock valued at $191,000 after purchasing an additional 667 shares during the last quarter. 51.18% of the stock is currently owned by hedge funds and other institutional investors.

CGI Company Profile

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CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada; Western, Southern, Central, and Eastern Europe; Australia; Scandinavia; Finland, Poland, and Baltics; the United States; the United Kingdom; and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

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