CGI (NYSE:GIB – Get Rating) (TSE:GIB.A) had its price objective cut by Canaccord Genuity Group from C$130.00 to C$120.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock.
A number of other research firms have also commented on GIB. Scotiabank raised their price objective on CGI from C$131.00 to C$132.00 in a research note on Thursday, February 3rd. CIBC boosted their price target on CGI from C$130.00 to C$135.00 in a research note on Thursday, February 3rd. StockNews.com assumed coverage on shares of CGI in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. Finally, The Goldman Sachs Group initiated coverage on shares of CGI in a research report on Sunday, January 9th. They set a “sell” rating and a $85.44 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $120.25.
Shares of CGI stock opened at $80.38 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 1.22. The firm has a 50-day moving average of $81.10 and a 200-day moving average of $84.78. CGI has a 52-week low of $77.25 and a 52-week high of $93.93. The stock has a market cap of $19.56 billion, a PE ratio of 18.06, a PEG ratio of 2.19 and a beta of 1.05.
Several hedge funds have recently added to or reduced their stakes in GIB. Norges Bank bought a new stake in shares of CGI in the fourth quarter worth $202,279,000. National Bank of Canada FI bought a new stake in shares of CGI in the 4th quarter valued at about $153,156,000. Arrowstreet Capital Limited Partnership increased its stake in shares of CGI by 74.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,027,745 shares of the technology company’s stock valued at $256,745,000 after buying an additional 1,291,949 shares during the period. QV Investors Inc. bought a new position in shares of CGI during the fourth quarter worth about $68,922,000. Finally, Alberta Investment Management Corp lifted its stake in shares of CGI by 70.0% in the fourth quarter. Alberta Investment Management Corp now owns 1,214,344 shares of the technology company’s stock worth $107,528,000 after acquiring an additional 500,051 shares during the period. 52.47% of the stock is owned by hedge funds and other institutional investors.
CGI Company Profile (Get Rating)
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada; Western, Southern, Central, and Eastern Europe; Australia; Scandinavia; Finland, Poland, and Baltics; the United States; the United Kingdom; and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
- Get a free copy of the StockNews.com research report on CGI (GIB)
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