Royal Bank of Canada Reaffirms “Outperform” Rating for CGI (NYSE:GIB)

CGI (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $192.00 target price on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 93.21% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Jefferies Financial Group reduced their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. UBS Group increased their target price on shares of CGI from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $156.75.

CGI Stock Down 0.8 %

Shares of NYSE:GIB opened at $99.38 on Wednesday. The firm has a market capitalization of $22.53 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. CGI has a 52-week low of $96.92 and a 52-week high of $122.79. The firm has a fifty day moving average of $110.52 and a 200 day moving average of $111.65.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. As a group, research analysts anticipate that CGI will post 5.79 EPS for the current fiscal year.

Hedge Funds Weigh In On CGI

Several hedge funds have recently made changes to their positions in GIB. Thrivent Financial for Lutherans bought a new stake in shares of CGI during the third quarter valued at approximately $209,000. Charles Schwab Investment Management Inc. increased its holdings in shares of CGI by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock valued at $64,518,000 after acquiring an additional 21,427 shares in the last quarter. Citigroup Inc. raised its position in shares of CGI by 2.0% in the 3rd quarter. Citigroup Inc. now owns 100,915 shares of the technology company’s stock worth $11,625,000 after purchasing an additional 1,970 shares during the last quarter. Cerity Partners LLC boosted its stake in CGI by 60.2% in the 3rd quarter. Cerity Partners LLC now owns 7,379 shares of the technology company’s stock worth $848,000 after purchasing an additional 2,772 shares in the last quarter. Finally, DRW Securities LLC bought a new position in CGI in the 3rd quarter worth about $437,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Company Profile

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.