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

CGI (NYSE:GIBGet Rating) (TSE:GIB.A) had its price objective upped by stock analysts at Desjardins from C$126.00 to C$130.00 in a note issued to investors on Thursday, The Fly reports. Desjardins also issued estimates for CGI’s Q1 2023 earnings at $1.20 EPS, Q2 2023 earnings at $1.24 EPS, Q3 2023 earnings at $1.29 EPS, Q4 2023 earnings at $1.29 EPS and FY2023 earnings at $5.01 EPS.

Several other analysts have also recently weighed in on GIB. Canaccord Genuity Group lifted their price objective on CGI from C$120.00 to C$125.00 in a research report on Thursday, July 28th. Royal Bank of Canada lifted their price objective on CGI from C$120.00 to C$130.00 in a research report on Thursday, July 28th. Raymond James lifted their price objective on CGI from C$130.00 to C$134.00 in a research report on Thursday. BMO Capital Markets lifted their price objective on CGI from C$120.00 to C$125.00 in a research report on Thursday, July 28th. Finally, StockNews.com started coverage on CGI in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CGI has a consensus rating of “Moderate Buy” and a consensus price target of $126.05.

CGI Stock Up 0.1 %

NYSE GIB opened at $85.51 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.82. The stock has a market capitalization of $20.41 billion, a PE ratio of 18.08, a PEG ratio of 1.77 and a beta of 0.94. CGI has a 1 year low of $72.23 and a 1 year high of $89.87. The business’s 50-day moving average is $78.16 and its 200 day moving average is $80.59.

Institutional Investors Weigh In On CGI

A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its position in shares of CGI by 8.5% during the 1st quarter. Russell Investments Group Ltd. now owns 183,870 shares of the technology company’s stock valued at $14,659,000 after acquiring an additional 14,394 shares during the period. Banque Pictet & Cie SA boosted its holdings in CGI by 19.8% in the 1st quarter. Banque Pictet & Cie SA now owns 18,238 shares of the technology company’s stock worth $1,454,000 after buying an additional 3,014 shares during the period. Duality Advisers LP bought a new position in CGI in the 1st quarter worth $341,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in CGI by 4.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 690,297 shares of the technology company’s stock worth $54,990,000 after buying an additional 26,998 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in CGI by 10.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,209,205 shares of the technology company’s stock worth $336,021,000 after buying an additional 389,885 shares during the period. 48.92% of the stock is currently owned by hedge funds and other institutional investors.

About CGI

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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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