CGI (NYSE:GIB) Hits New 12-Month High at $86.72

CGI Inc (NYSE:GIB) (TSE:GIB.A) hit a new 52-week high on Wednesday . The stock traded as high as $86.72 and last traded at $86.60, with a volume of 1279 shares traded. The stock had previously closed at $85.97.

GIB has been the topic of a number of research reports. Barclays initiated coverage on CGI in a research note on Friday, September 20th. They set an “overweight” rating and a $90.00 price target on the stock. Zacks Investment Research downgraded CGI from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine upgraded CGI from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Desjardins upgraded CGI from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, Raymond James set a $110.00 target price on CGI and gave the company a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $95.60.

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.13 and a quick ratio of 0.75. The stock has a market capitalization of $23.24 billion, a PE ratio of 24.45, a P/E/G ratio of 2.33 and a beta of 0.53. The stock has a 50 day moving average of $83.78 and a two-hundred day moving average of $79.69.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results 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 firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research analysts predict that CGI Inc will post 3.91 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of CGI by 30.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock valued at $43,000 after buying an additional 130 shares in the last quarter. First Mercantile Trust Co. boosted its stake in shares of CGI by 3.8% in the third quarter. First Mercantile Trust Co. now owns 3,580 shares of the technology company’s stock valued at $283,000 after buying an additional 130 shares in the last quarter. CWM LLC boosted its stake in shares of CGI by 182.3% in the third quarter. CWM LLC now owns 367 shares of the technology company’s stock valued at $29,000 after buying an additional 237 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of CGI by 1.1% in the third quarter. Assenagon Asset Management S.A. now owns 28,769 shares of the technology company’s stock valued at $2,276,000 after buying an additional 300 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of CGI by 13.6% in the second quarter. Glen Harbor Capital Management LLC now owns 2,750 shares of the technology company’s stock valued at $203,000 after buying an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 55.69% of the company’s stock.

About CGI (NYSE:GIB)

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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