Jefferies Financial Group Initiates Coverage on CGI (NYSE:GIB)

Equities researchers at Jefferies Financial Group started coverage on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $120.00 price target on the technology company’s stock. Jefferies Financial Group’s target price points to a potential upside of 17.39% from the stock’s current price.

GIB has been the topic of a number of other research reports. StockNews.com downgraded CGI from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. TD Securities raised CGI from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, CIBC cut CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st.

CGI Stock Up 0.8 %

GIB opened at $102.22 on Tuesday. CGI has a one year low of $93.07 and a one year high of $118.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.17. The stock’s fifty day moving average is $101.66 and its 200-day moving average is $107.18. The company has a market capitalization of $23.59 billion, a PE ratio of 19.70, a P/E/G ratio of 2.31 and a beta of 0.95.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. CGI had a return on equity of 20.43% and a net margin of 11.38%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.79 billion. On average, equities analysts predict that CGI will post 5.57 EPS for the current fiscal year.

Hedge Funds Weigh In On CGI

Hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC grew its holdings in shares of CGI by 297.1% in 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. purchased a new position in shares of CGI during the first quarter valued at $30,000. UMB Bank n.a. grew its holdings in shares of CGI by 9,916.7% during the first quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock valued at $66,000 after buying an additional 595 shares in the last quarter. CWM LLC grew its holdings in shares of CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after buying an additional 190 shares in the last quarter. Finally, Tritonpoint Wealth LLC purchased a new position in shares of CGI during the fourth quarter valued at $205,000. 66.68% of the stock is currently 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.