Zacks Investment Research upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a sell rating to a buy rating in a research report released on Friday morning, Zacks.com reports. They currently have $89.00 price objective on the technology company’s stock.
According to Zacks, “CGI provides the full range of IT services including consulting, systems integration and the management of business and IT functions. The company’s primary focus is large scale systems integration and outsourcing contracts. “
Other equities research analysts have also recently issued reports about the stock. CIBC restated a hold rating and set a $106.00 price objective on shares of CGI in a research note on Thursday. Barclays assumed coverage on shares of CGI in a research note on Friday, September 20th. They set an overweight rating and a $90.00 price objective on the stock. Raymond James set a $110.00 price objective on shares of CGI and gave the company a buy rating in a research note on Monday, October 21st. Societe Generale cut shares of CGI from a hold rating to a sell rating in a research note on Thursday, August 1st. Finally, National Bank Financial restated a buy rating on shares of CGI in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $95.60.
Shares of NYSE GIB traded down $0.12 during midday trading on Friday, reaching $80.14. 175,506 shares of the company traded hands, compared to its average volume of 160,356. CGI has a 52 week low of $57.35 and a 52 week high of $80.88. The stock has a 50-day moving average price of $78.16 and a 200 day moving average price of $76.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.09 and a quick ratio of 0.75. The company has a market cap of $21.44 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 2.15 and a beta of 0.53.
CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.29. CGI had a net margin of 10.32% and a return on equity of 18.78%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. As a group, analysts expect that CGI will post 3.91 EPS for the current year.
Institutional investors have recently modified their holdings of the business. Zions Bancorporation N.A. bought a new stake in CGI in the second quarter worth about $28,000. CWM LLC raised its position in CGI by 182.3% in the third quarter. CWM LLC now owns 367 shares of the technology company’s stock worth $29,000 after acquiring an additional 237 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in CGI by 30.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock worth $43,000 after acquiring an additional 130 shares in the last quarter. Parallel Advisors LLC raised its position in CGI by 100.0% in the third quarter. Parallel Advisors LLC now owns 866 shares of the technology company’s stock worth $69,000 after acquiring an additional 433 shares in the last quarter. Finally, NEXT Financial Group Inc bought a new stake in CGI in the second quarter worth about $76,000. Hedge funds and other institutional investors own 55.56% of the company’s stock.
CGI Company Profile
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
See Also: Why do corrections happen?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CGI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI and related companies with MarketBeat.com's FREE daily email newsletter.