TD Securities Upgrades CGI (NYSE:GIB) to “Buy”

CGI (NYSE:GIB) (TSE:GIB.A) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, FinViz reports.

Separately, StockNews.com cut CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th.

CGI Trading Down 1.8 %

CGI stock opened at $99.36 on Thursday. CGI has a 12 month low of $93.07 and a 12 month high of $118.89. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.22. The stock has a market cap of $23.08 billion, a P/E ratio of 19.37, a P/E/G ratio of 2.22 and a beta of 0.93. The company’s fifty day simple moving average is $110.34 and its 200-day simple moving average is $106.89.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. CGI had a return on equity of 20.65% and a net margin of 11.34%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, sell-side analysts forecast that CGI will post 5.69 EPS for the current fiscal year.

Hedge Funds Weigh In On CGI

Several hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC raised its position in shares of CGI by 471.7% in the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock valued at $26,000 after purchasing an additional 217 shares during the period. Hexagon Capital Partners LLC lifted its position 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 last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in CGI during the first quarter valued at about $30,000. Group One Trading L.P. bought a new position in shares of CGI in the third quarter worth about $36,000. Finally, Quantbot Technologies LP acquired a new position in shares of CGI during the 3rd quarter worth about $41,000. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Company Profile

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.