CGI (NYSE:GIB) PT Lowered to $165.00 at CIBC

CGI (NYSE:GIB) (TSE:GIB.A) had its price target decreased by CIBC from $169.00 to $165.00 in a report published on Thursday, Benzinga reports. CIBC currently has an outperformer rating on the technology company’s stock.

Several other equities analysts have also recently commented on GIB. TD Securities raised CGI from a hold rating to a buy rating in a report on Thursday. StockNews.com lowered shares of CGI from a buy rating to a hold rating in a report on Monday, March 11th.

CGI Stock Performance

NYSE GIB traded up $1.57 during trading on Thursday, hitting $103.68. The company’s stock had a trading volume of 181,289 shares, compared to its average volume of 189,499. CGI has a 52 week low of $93.07 and a 52 week high of $118.89. The company has a quick ratio of 0.86, a current ratio of 1.17 and a debt-to-equity ratio of 0.22. The firm has a market cap of $24.09 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.36 and a beta of 0.93. The firm has a 50 day moving average price of $109.85 and a 200 day moving average price of $106.89.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.59 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. Equities research analysts forecast that CGI will post 5.59 earnings per share for the current fiscal year.

Institutional Trading of CGI

A number of large investors have recently bought and sold shares of GIB. Vanguard Group Inc. raised its stake in shares of CGI by 1.8% in the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock valued at $746,389,000 after acquiring an additional 132,166 shares during the last quarter. Mackenzie Financial Corp boosted its stake in CGI by 15.0% in the third quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock worth $598,239,000 after purchasing an additional 805,973 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of CGI by 7.1% during the fourth quarter. Fiera Capital Corp now owns 4,085,404 shares of the technology company’s stock worth $439,103,000 after purchasing an additional 272,371 shares during the last quarter. National Bank of Canada FI increased its stake in shares of CGI by 3.6% in the fourth quarter. National Bank of Canada FI now owns 3,711,372 shares of the technology company’s stock valued at $385,239,000 after buying an additional 129,020 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of CGI by 12.9% in the third quarter. The Manufacturers Life Insurance Company now owns 3,505,781 shares of the technology company’s stock valued at $348,026,000 after buying an additional 401,717 shares during the last quarter. 66.68% of the stock is currently owned by 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.