Royal Bank of Canada Reaffirms Outperform Rating for CGI (NYSE:GIB)

CGI (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They currently have a $192.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 93.21% from the stock’s previous close.

A number of other brokerages have also recently commented on GIB. UBS Group raised their target price on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group decreased their price objective on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $156.75.

CGI Trading Down 0.8 %

CGI stock opened at $99.38 on Wednesday. CGI has a 52-week low of $96.92 and a 52-week high of $122.79. The company has a market cap of $22.53 billion, a P/E ratio of 17.97, a P/E/G ratio of 2.58 and a beta of 0.96. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $110.52 and a two-hundred day simple moving average of $111.65.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Analysts predict that CGI will post 5.79 EPS for the current year.

Institutional Investors Weigh In On CGI

Institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of CGI during the third quarter worth about $28,000. Sierra Ocean LLC purchased a new stake in CGI during the 4th quarter valued at approximately $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of CGI during the fourth quarter valued at approximately $83,000. Hoey Investments Inc. purchased a new position in shares of CGI in the fourth quarter worth $99,000. Finally, Blue Trust Inc. boosted its position in shares of CGI by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after acquiring an additional 375 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.