Brokerages Set CGI Inc (NYSE:GIB) Target Price at $89.00

Shares of CGI Inc (NYSE:GIB) (TSE:GIB.A) have been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $89.00.

A number of analysts have issued reports on the stock. National Bank Financial reissued a “buy” rating on shares of CGI in a report on Wednesday, July 31st. Zacks Investment Research downgraded shares of CGI from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Bank of America assumed coverage on shares of CGI in a report on Thursday, May 23rd. They issued a “buy” rating and a $83.00 price objective for the company. Finally, Societe Generale downgraded shares of CGI from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.

Several institutional investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of CGI by 30.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock worth $43,000 after acquiring an additional 130 shares during the period. FDx Advisors Inc. lifted its holdings in shares of CGI by 3.9% during the 2nd quarter. FDx Advisors Inc. now owns 3,684 shares of the technology company’s stock worth $283,000 after acquiring an additional 138 shares during the period. Parallel Advisors LLC lifted its holdings in shares of CGI by 59.0% during the 1st quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock worth $39,000 after acquiring an additional 213 shares during the period. Neuburgh Advisers LLC lifted its holdings in shares of CGI by 13.6% during the 2nd quarter. Neuburgh Advisers LLC now owns 2,000 shares of the technology company’s stock worth $148,000 after acquiring an additional 240 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of CGI by 7.1% during the 1st quarter. US Bancorp DE now owns 4,155 shares of the technology company’s stock worth $285,000 after acquiring an additional 274 shares during the period. 55.19% of the stock is owned by institutional investors.

NYSE GIB traded up $0.77 during trading on Thursday, reaching $78.60. The company’s stock had a trading volume of 91,400 shares, compared to its average volume of 159,564. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $20.84 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 2.31 and a beta of 0.55. CGI has a 12 month low of $57.35 and a 12 month high of $80.59. The firm has a 50 day moving average price of $77.57 and a 200 day moving average price of $74.05.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. CGI had a net margin of 10.32% and a return on equity of 18.78%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. On average, equities analysts forecast that CGI will post 3.58 EPS for the current fiscal year.

About CGI

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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Analyst Recommendations for CGI (NYSE:GIB)

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