CGI’s (GIB) “Outperform” Rating Reaffirmed at Royal Bank of Canada

CGI (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They currently have a $192.00 price target on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 90.09% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. UBS Group boosted their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group cut their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, CGI presently has an average rating of “Buy” and a consensus target price of $156.75.

CGI Stock Down 0.1 %

Shares of NYSE:GIB traded down $0.11 during mid-day trading on Wednesday, hitting $101.00. 27,259 shares of the company traded hands, compared to its average volume of 178,343. The stock has a 50-day moving average price of $110.87 and a two-hundred day moving average price of $111.82. CGI has a 12-month low of $96.92 and a 12-month high of $122.79. The stock has a market cap of $22.90 billion, a P/E ratio of 18.26, a P/E/G ratio of 2.58 and a beta of 0.96. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. On average, equities research analysts forecast that CGI will post 5.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIB. Wilmington Savings Fund Society FSB bought a new stake in CGI during the third quarter worth about $28,000. Sierra Ocean LLC purchased a new stake in CGI in the fourth quarter worth approximately $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in CGI during the fourth quarter valued at approximately $83,000. Hoey Investments Inc. purchased a new position in shares of CGI during the fourth quarter worth approximately $99,000. Finally, Blue Trust Inc. lifted its holdings in shares of CGI by 47.6% in the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after acquiring an additional 375 shares during the last quarter. 66.68% of the stock is currently 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.