UBS Group Issues Positive Forecast for CGI (NYSE:GIB) Stock Price

CGI (NYSE:GIB) (TSE:GIB.A) had its price target upped by analysts at UBS Group from $118.00 to $122.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. UBS Group’s price objective would suggest a potential upside of 3.02% from the company’s current price.

GIB has been the subject of a number of other research reports. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and raised their price target for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Jefferies Financial Group cut their price objective on CGI from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $178.00 price target on shares of CGI in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $153.25.

CGI Price Performance

CGI stock traded up $0.60 during midday trading on Monday, reaching $118.42. 89,221 shares of the stock were exchanged, compared to its average volume of 187,434. The company’s fifty day moving average is $111.08 and its 200-day moving average is $111.47. 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 $121.55. The firm has a market cap of $26.85 billion, a PE ratio of 21.36, a PEG ratio of 2.59 and a beta of 0.94.

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, meeting the consensus estimate of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. On average, sell-side analysts forecast that CGI will post 5.79 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in CGI during the 3rd quarter valued at $28,000. Sierra Ocean LLC purchased a new stake in shares of CGI during the fourth quarter worth about $62,000. Blue Trust Inc. grew its stake in shares of CGI by 288.2% in the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after purchasing an additional 585 shares during the last quarter. CWM LLC increased its holdings in CGI by 14.8% during the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares during the period. Finally, Werba Rubin Papier Wealth Management bought a new position in CGI during the 3rd quarter valued at approximately $208,000. 66.68% of the stock is 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.