CGI (NYSE:GIB) Lowered to “Hold” at StockNews.com

CGI (NYSE:GIBGet Free Report) (TSE:GIB.A) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

CGI Trading Down 3.6 %

GIB traded down $4.12 during midday trading on Monday, hitting $111.80. 216,560 shares of the company were exchanged, compared to its average volume of 139,024. The firm has a market capitalization of $25.97 billion, a P/E ratio of 21.79, a P/E/G ratio of 2.26 and a beta of 0.93. CGI has a 1-year low of $88.74 and a 1-year high of $116.03. The firm’s 50 day moving average price is $106.35 and its 200-day moving average price is $102.55. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIBGet Free Report) (TSE:GIB.A) last announced its earnings results on Wednesday, November 8th. The technology company reported $1.33 EPS for the quarter, hitting the consensus estimate of $1.33. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.62 billion. CGI had a return on equity of 20.65% and a net margin of 11.34%. As a group, equities analysts forecast that CGI will post 5.72 EPS for the current fiscal year.

Institutional Investors Weigh In On CGI

Several institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning raised its stake in CGI by 19.5% during the 2nd quarter. Creative Planning now owns 19,593 shares of the technology company’s stock worth $2,066,000 after buying an additional 3,199 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of CGI by 24.0% in the second quarter. Great West Life Assurance Co. Can now owns 270,424 shares of the technology company’s stock worth $28,650,000 after purchasing an additional 52,286 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of CGI by 14.3% in the second quarter. JPMorgan Chase & Co. now owns 1,121,388 shares of the technology company’s stock worth $118,228,000 after purchasing an additional 139,979 shares during the last quarter. Genus Capital Management Inc. purchased a new stake in shares of CGI in the second quarter worth approximately $8,531,000. Finally, Hsbc Holdings PLC raised its stake in shares of CGI by 14.4% in the second quarter. Hsbc Holdings PLC now owns 513,362 shares of the technology company’s stock worth $54,136,000 after purchasing an additional 64,659 shares during the last quarter. Institutional investors own 49.02% of the company’s stock.

CGI Company Profile

(Get Free Report)

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.

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