CGI (NYSE:GIB) Upgraded at StockNews.com

StockNews.com upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a sell rating to a hold rating in a research report sent to investors on Friday.

Other equities analysts have also issued research reports about the stock. UBS Group assumed coverage on shares of CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 price target for the company. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Sanford C. Bernstein raised shares of CGI to a “strong-buy” rating in a report on Thursday, August 1st. Finally, CIBC raised CGI from a “neutral” rating to an “outperformer” rating and increased their price objective for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, CGI has an average rating of “Buy” and an average price target of $137.00.

CGI Stock Performance

Shares of CGI stock opened at $107.39 on Friday. The firm has a market capitalization of $24.48 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $113.74 and its 200 day simple moving average is $107.98. CGI has a 12 month low of $96.92 and a 12 month high of $118.89.

CGI Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be paid a $0.111 dividend. The ex-dividend date is Wednesday, November 20th. This represents a yield of 0.4%.

Institutional Investors Weigh In On CGI

Several institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in shares of CGI during the 1st quarter valued at $5,529,000. Fiera Capital Corp increased its position in shares of CGI by 1.9% during the second quarter. Fiera Capital Corp now owns 4,269,775 shares of the technology company’s stock valued at $426,353,000 after buying an additional 79,303 shares during the period. Canada Pension Plan Investment Board increased its position in shares of CGI by 8.7% during the first quarter. Canada Pension Plan Investment Board now owns 692,449 shares of the technology company’s stock valued at $76,467,000 after buying an additional 55,499 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of CGI by 14.4% in the second quarter. GHP Investment Advisors Inc. now owns 41,348 shares of the technology company’s stock worth $4,127,000 after buying an additional 5,213 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of CGI in the third quarter valued at approximately $4,539,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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.