CGI (NYSE:GIB) PT Lowered to C$120.00 at Royal Bank of Canada

CGI (NYSE:GIBGet Rating) (TSE:GIB.A) had its price objective trimmed by Royal Bank of Canada from C$127.00 to C$120.00 in a research report report published on Thursday morning, The Fly reports.

GIB has been the topic of a number of other reports. Zacks Investment Research upgraded shares of CGI from a sell rating to a hold rating in a research report on Thursday, April 21st. Scotiabank upped their price objective on shares of CGI from C$131.00 to C$132.00 in a research note on Thursday, February 3rd. CIBC upped their price objective on shares of CGI from C$130.00 to C$135.00 in a research note on Thursday, February 3rd. Canaccord Genuity Group cut their price objective on shares of CGI from C$130.00 to C$120.00 and set a buy rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group assumed coverage on shares of CGI in a research report on Sunday, January 9th. They set a sell rating and a $85.44 price target for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, CGI currently has an average rating of Buy and a consensus target price of $119.75.

Shares of NYSE GIB opened at $81.26 on Thursday. The firm has a market capitalization of $19.78 billion, a P/E ratio of 18.26, a P/E/G ratio of 2.19 and a beta of 1.05. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $81.07 and its two-hundred day simple moving average is $84.74. CGI has a twelve month low of $77.25 and a twelve month high of $93.93.

CGI (NYSE:GIBGet Rating) (TSE:GIB.A) last announced its earnings results on Wednesday, February 2nd. The technology company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.12 billion. CGI had a return on equity of 20.61% and a net margin of 11.42%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 EPS. As a group, research analysts anticipate that CGI will post 4.77 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in GIB. Marshall Wace LLP bought a new stake in shares of CGI in the first quarter worth approximately $110,000. Amundi Pioneer Asset Management Inc. grew its stake in shares of CGI by 18.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 218,444 shares of the technology company’s stock worth $15,020,000 after acquiring an additional 34,441 shares during the period. Morgan Stanley boosted its holdings in shares of CGI by 28.4% in the second quarter. Morgan Stanley now owns 326,041 shares of the technology company’s stock worth $29,539,000 after buying an additional 72,083 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of CGI by 9.4% in the third quarter. Van ECK Associates Corp now owns 20,541 shares of the technology company’s stock worth $1,743,000 after buying an additional 1,764 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of CGI by 14.0% in the third quarter. Deutsche Bank AG now owns 530,412 shares of the technology company’s stock worth $44,959,000 after buying an additional 64,936 shares during the last quarter. Hedge funds and other institutional investors own 52.47% of the company’s stock.

About CGI (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.

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