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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) has received an average recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $132.67.

Several analysts have recently commented on the stock. UBS Group assumed coverage on shares of CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target on the stock. Jefferies Financial Group lifted their target price on CGI from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st.

Institutional Trading of CGI

Several hedge funds have recently made changes to their positions in GIB. APG Asset Management N.V. increased its stake in CGI by 32.4% during the 2nd quarter. APG Asset Management N.V. now owns 256,013 shares of the technology company’s stock worth $23,837,000 after buying an additional 62,649 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of CGI during the second quarter worth $2,907,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of CGI by 184.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,765 shares of the technology company’s stock valued at $2,871,000 after acquiring an additional 18,644 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of CGI by 6.7% in the second quarter. Evergreen Capital Management LLC now owns 3,437 shares of the technology company’s stock valued at $343,000 after acquiring an additional 215 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Price Performance

Shares of GIB stock opened at $112.00 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 0.86. The company has a market capitalization of $25.85 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95. The firm’s 50-day moving average is $106.80 and its two-hundred day moving average is $106.79. CGI has a 12 month low of $93.07 and a 12 month high of $118.89.

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.