CGI (NYSE:GIB) Given New $165.00 Price Target at CIBC

CGI (NYSE:GIB) (TSE:GIB.A) had its price objective cut by CIBC from $169.00 to $165.00 in a report published on Thursday, Benzinga reports. They currently have an outperformer rating on the technology company’s stock.

Several other brokerages have also weighed in on GIB. StockNews.com lowered shares of CGI from a buy rating to a hold rating in a research note on Monday, March 11th. TD Securities raised shares of CGI from a hold rating to a buy rating in a research note on Thursday.

CGI Trading Down 0.2 %

Shares of NYSE GIB traded down $0.21 during midday trading on Thursday, hitting $103.47. The company’s stock had a trading volume of 66,118 shares, compared to its average volume of 147,413. The business’s 50 day moving average is $109.85 and its two-hundred day moving average is $107.01. The company has a current ratio of 1.17, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The firm has a market cap of $24.04 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.39 and a beta of 0.93. CGI has a 12-month low of $93.07 and a 12-month high of $118.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in CGI by 471.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock valued at $26,000 after acquiring an additional 217 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in CGI by 297.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock worth $29,000 after acquiring an additional 202 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of CGI during the first quarter valued at approximately $30,000. Group One Trading L.P. purchased a new position in shares of CGI during the third quarter valued at approximately $36,000. Finally, Quantbot Technologies LP bought a new stake in CGI during the third quarter worth $41,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.