CGI Inc. (NYSE:GIB) Given Average Rating of “Buy” by Analysts

CGI Inc. (NYSE:GIBGet Rating) (TSE:GIB.A) has been assigned a consensus rating of “Buy” from the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $122.04.

GIB has been the topic of a number of research analyst reports. Royal Bank of Canada cut their price target on CGI from C$127.00 to C$120.00 in a report on Thursday, April 28th. Zacks Investment Research upgraded CGI from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. Canaccord Genuity Group cut their price target on CGI from C$130.00 to C$120.00 and set a “buy” rating on the stock in a report on Thursday, April 28th. Societe Generale upgraded CGI from a “hold” rating to a “buy” rating in a report on Friday, April 29th. Finally, StockNews.com began coverage on CGI in a report on Thursday, March 31st. They issued a “buy” rating on the stock.

Shares of GIB stock opened at $84.78 on Wednesday. The business’s 50 day simple moving average is $81.60 and its 200 day simple moving average is $83.22. CGI has a one year low of $76.98 and a one year high of $93.93. The stock has a market capitalization of $20.32 billion, a PE ratio of 18.43, a PEG ratio of 2.24 and a beta of 0.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.19 and a quick ratio of 0.88.

CGI (NYSE:GIBGet Rating) (TSE:GIB.A) last posted its quarterly earnings results 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. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.52 billion. CGI had a return on equity of 20.92% and a net margin of 11.49%. As a group, research analysts expect that CGI will post 4.76 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in CGI by 15.1% in the 1st quarter. Bank of America Corp DE now owns 266,133 shares of the technology company’s stock valued at $21,245,000 after buying an additional 34,929 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new stake in CGI in the 1st quarter valued at $1,012,000. Mirabella Financial Services LLP purchased a new stake in CGI in the 1st quarter valued at $980,000. Dynamic Technology Lab Private Ltd purchased a new stake in CGI in the 1st quarter valued at $1,366,000. Finally, Eaton Vance Management raised its position in CGI by 444.9% in the 1st quarter. Eaton Vance Management now owns 13,193 shares of the technology company’s stock valued at $1,052,000 after buying an additional 10,772 shares during the last quarter. 51.18% of the stock is owned by institutional investors and hedge funds.

CGI Company Profile (Get Rating)

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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