CGI (NYSE:GIB) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a sell rating to a buy rating in a 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. “

A number of other equities research analysts have also recently weighed in on GIB. ValuEngine cut CGI from a hold rating to a sell rating in a research note on Friday, November 1st. Desjardins raised CGI from a hold rating to a buy rating in a research note on Tuesday, October 8th. CIBC reaffirmed a hold rating and issued a $106.00 price objective on shares of CGI in a research note on Thursday, November 7th. Raymond James set a $110.00 price objective on CGI and gave the company a buy rating in a research note on Monday, October 21st. Finally, National Bank Financial reaffirmed 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 stock. The company has a consensus rating of Buy and an average price target of $95.60.

Shares of NYSE GIB traded down $0.11 during trading on Friday, reaching $80.03. The stock had a trading volume of 105,661 shares, compared to its average volume of 160,108. CGI has a fifty-two week low of $57.35 and a fifty-two week high of $80.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.13. The business’s 50-day moving average price is $78.20 and its 200-day moving average price is $76.61. The company has a market cap of $21.62 billion, a P/E ratio of 22.61, a PEG ratio of 2.20 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 the Zacks’ consensus estimate of $0.92 by $0.29. CGI had a return on equity of 19.04% and a net margin of 10.43%. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Analysts forecast that CGI will post 3.94 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trillium Asset Management LLC acquired a new position in CGI during the 3rd quarter worth $248,000. Massachusetts Financial Services Co. MA grew its stake in CGI by 6.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,875,972 shares of the technology company’s stock worth $148,466,000 after purchasing an additional 114,164 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in CGI by 4,841.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 21,297 shares of the technology company’s stock worth $1,686,000 after purchasing an additional 20,866 shares in the last quarter. Parallel Advisors LLC grew its stake in CGI by 100.0% during the 3rd quarter. Parallel Advisors LLC now owns 866 shares of the technology company’s stock worth $69,000 after purchasing an additional 433 shares in the last quarter. Finally, First Mercantile Trust Co. grew its stake in CGI by 3.8% during the 3rd quarter. First Mercantile Trust Co. now owns 3,580 shares of the technology company’s stock worth $283,000 after purchasing an additional 130 shares in the last quarter. 55.50% 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 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.

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