CGI Inc (GIB) Given Consensus Recommendation of “Buy” by Analysts
CGI Inc (NYSE:GIB) (TSE:GIB.A) has earned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $79.00.
Several brokerages have weighed in on GIB. Zacks Investment Research upgraded CGI from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Friday, February 1st. BMO Capital Markets restated a “buy” rating on shares of CGI in a research note on Wednesday, January 16th. Finally, Raymond James restated a “buy” rating on shares of CGI in a research note on Tuesday, January 8th.
A number of large investors have recently modified their holdings of GIB. Norges Bank bought a new position in CGI during the 4th quarter valued at $157,764,000. AQR Capital Management LLC increased its position in shares of CGI by 25.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,017,091 shares of the technology company’s stock valued at $129,958,000 after purchasing an additional 413,081 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CGI by 5,894.0% during the 4th quarter. Geode Capital Management LLC now owns 277,403 shares of the technology company’s stock valued at $16,864,000 after purchasing an additional 272,775 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of CGI by 171.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 398,452 shares of the technology company’s stock valued at $25,693,000 after purchasing an additional 251,418 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of CGI by 28.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,048,458 shares of the technology company’s stock valued at $64,144,000 after purchasing an additional 229,708 shares during the last quarter. Institutional investors and hedge funds own 58.44% of the company’s stock.
CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. CGI had a return on equity of 18.11% and a net margin of 10.01%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the business earned $0.99 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, analysts expect that CGI will post 3.54 EPS for the current year.
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.
Further Reading: Call Option Volume
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.