CGI Inc. (NYSE:GIB) Receives $137.00 Consensus PT from Brokerages

Shares of CGI Inc. (NYSE:GIB) (TSE:GIB.A) have been given a consensus rating of “Buy” by the five ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $137.00.

A number of equities analysts recently issued reports on GIB shares. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group began coverage on CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 price objective for the company. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and raised their price target for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group upped their price objective on shares of CGI from $120.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, July 16th.

CGI Stock Performance

Shares of CGI stock opened at $116.25 on Thursday. The company has a 50 day moving average price of $112.91 and a 200 day moving average price of $106.87. The firm has a market capitalization of $26.83 billion, a P/E ratio of 22.40, a PEG ratio of 2.45 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. CGI has a 52 week low of $93.07 and a 52 week high of $118.89.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GIB. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of CGI during the 1st quarter worth approximately $30,000. Blue Trust Inc. boosted its holdings in CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after buying an additional 585 shares in the last quarter. CWM LLC grew its position in CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after buying an additional 190 shares during the period. Werba Rubin Papier Wealth Management acquired a new stake in CGI during the third quarter valued at $208,000. Finally, Tidal Investments LLC purchased a new position in CGI in the first quarter valued at $226,000. 66.68% of the stock is currently owned by hedge funds and other 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.