CGI Inc (NYSE:GIB) (TSE:GIB.A) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $70.74 and last traded at $70.80, with a volume of 6154 shares. The stock had previously closed at $70.05.

GIB has been the subject of a number of research analyst reports. Raymond James reaffirmed a “buy” rating on shares of CGI in a report on Tuesday, January 8th. Zacks Investment Research raised shares of CGI from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Friday, February 1st. Finally, BMO Capital Markets reissued a “buy” rating on shares of CGI in a report on Wednesday, January 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $79.00.

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.14. The firm has a market capitalization of $18.98 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 2.16 and a beta of 0.55.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, January 30th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. CGI had a net margin of 10.01% and a return on equity of 18.11%. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company posted $0.99 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that CGI Inc will post 3.55 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of GIB. Norges Bank purchased a new position in shares of CGI during the fourth quarter worth $157,764,000. AQR Capital Management LLC increased its holdings in CGI by 25.8% in the third quarter. AQR Capital Management LLC now owns 2,017,091 shares of the technology company’s stock valued at $129,958,000 after buying an additional 413,081 shares in the last quarter. Geode Capital Management LLC increased its holdings in CGI by 5,894.0% in the fourth quarter. Geode Capital Management LLC now owns 277,403 shares of the technology company’s stock valued at $16,864,000 after buying an additional 272,775 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in CGI by 171.0% in the third quarter. JPMorgan Chase & Co. now owns 398,452 shares of the technology company’s stock valued at $25,693,000 after buying an additional 251,418 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in CGI by 28.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,048,458 shares of the technology company’s stock valued at $64,144,000 after buying an additional 229,708 shares in the last quarter. 58.50% of the stock is owned by hedge funds and other institutional investors.

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About CGI (NYSE:GIB)

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, 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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