CGI (GIB) Rating Reiterated by BMO Capital Markets

BMO Capital Markets reaffirmed their buy rating on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a report issued on Tuesday.

A number of other research firms have also issued reports on GIB. Desjardins raised shares of CGI from a hold rating to a buy rating in a research report on Tuesday, October 30th. Royal Bank of Canada raised their price target on shares of CGI from $92.00 to $95.00 and gave the stock an outperform rating in a research report on Thursday, November 8th. Raymond James reissued a buy rating on shares of CGI in a research report on Wednesday, November 7th. Finally, Zacks Investment Research lowered shares of CGI from a buy rating to a hold rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. CGI currently has a consensus rating of Buy and an average price target of $77.67.

GIB opened at $62.54 on Tuesday. CGI has a 12-month low of $52.55 and a 12-month high of $66.53. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.86 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 2.00 and a beta of 0.58.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. CGI had a net margin of 9.92% and a return on equity of 18.05%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period last year, the firm posted $0.93 EPS. CGI’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts expect that CGI will post 3.54 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC grew its stake in shares of CGI by 36.5% during the 3rd quarter. Signaturefd LLC now owns 3,468 shares of the technology company’s stock worth $224,000 after purchasing an additional 928 shares during the period. Creative Planning grew its stake in shares of CGI by 4.2% during the 3rd quarter. Creative Planning now owns 23,384 shares of the technology company’s stock worth $1,508,000 after purchasing an additional 946 shares during the period. Riverhead Capital Management LLC grew its stake in shares of CGI by 100.0% during the 3rd quarter. Riverhead Capital Management LLC now owns 2,800 shares of the technology company’s stock worth $179,000 after purchasing an additional 1,400 shares during the period. GHP Investment Advisors Inc. grew its stake in shares of CGI by 11.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 14,745 shares of the technology company’s stock worth $951,000 after purchasing an additional 1,460 shares during the period. Finally, Commonwealth Bank of Australia grew its stake in shares of CGI by 6.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 27,288 shares of the technology company’s stock worth $1,724,000 after purchasing an additional 1,619 shares during the period. 58.10% of the stock is currently owned by institutional investors and hedge funds.

CGI Company Profile

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.

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Analyst Recommendations for CGI (NYSE:GIB)

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