CGI (GIB) Given Buy Rating at Desjardins
Desjardins restated their buy rating on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a report published on Friday. Desjardins also issued estimates for CGI’s Q1 2019 earnings at $0.85 EPS, Q2 2019 earnings at $0.91 EPS, Q3 2019 earnings at $0.94 EPS, Q4 2019 earnings at $0.93 EPS and FY2020 earnings at $4.10 EPS.
A number of other analysts have also commented on the company. Scotiabank lowered CGI from an outperform rating to a sector perform rating in a research note on Tuesday, July 17th. Zacks Investment Research upgraded CGI from a hold rating to a buy rating and set a $70.00 price objective for the company in a report on Wednesday, October 10th. Barclays increased their price objective on CGI from $64.00 to $68.00 and gave the stock an overweight rating in a report on Thursday, August 2nd. Royal Bank of Canada increased their price objective on CGI from $92.00 to $95.00 and gave the stock an outperform rating in a report on Thursday. Finally, Raymond James reiterated a buy rating on shares of CGI in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $77.67.
GIB stock traded down $0.54 on Friday, reaching $61.91. The company’s stock had a trading volume of 174,254 shares, compared to its average volume of 249,871. CGI has a 12-month low of $52.54 and a 12-month high of $66.53. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.96 and a beta of 0.61. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.24.
Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC raised its holdings in CGI by 206.9% in the second quarter. Janus Henderson Group PLC now owns 226,912 shares of the technology company’s stock worth $14,375,000 after purchasing an additional 152,987 shares in the last quarter. AE Wealth Management LLC bought a new position in CGI in the second quarter worth $268,000. Bridgewater Associates LP raised its holdings in CGI by 200.0% in the second quarter. Bridgewater Associates LP now owns 113,786 shares of the technology company’s stock worth $7,206,000 after purchasing an additional 75,863 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in CGI by 12.1% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,446,700 shares of the technology company’s stock worth $120,525,000 after purchasing an additional 156,200 shares in the last quarter. Finally, Natixis raised its holdings in CGI by 80.7% in the second quarter. Natixis now owns 42,630 shares of the technology company’s stock worth $2,699,000 after purchasing an additional 19,034 shares in the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.
CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.
Featured Story: How is the discount rate different from the Federal Funds rate?
Receive News & Ratings for CGI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI and related companies with MarketBeat.com's FREE daily email newsletter.