CIBC Cuts CGI (NYSE:GIB) Price Target to $165.00

CGI (NYSE:GIB) (TSE:GIB.A) had its price target decreased by stock analysts at CIBC from $169.00 to $165.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperformer” rating on the technology company’s stock. CIBC’s price target suggests a potential upside of 61.59% from the company’s previous close.

Several other research analysts have also weighed in on GIB. TD Securities raised CGI from a “hold” rating to a “buy” rating in a research report on Thursday. StockNews.com lowered shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th.

CGI Trading Up 2.8 %

NYSE GIB traded up $2.75 during trading on Thursday, reaching $102.11. 178,136 shares of the stock traded hands, compared to its average volume of 147,104. CGI has a fifty-two week low of $93.07 and a fifty-two week high of $118.89. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.22. The firm has a market cap of $23.72 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.22 and a beta of 0.93. The stock’s 50-day moving average price is $110.34 and its 200 day moving average price is $106.89.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.59 billion. CGI had a return on equity of 20.65% and a net margin of 11.34%. Analysts predict that CGI will post 5.69 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in CGI during the 4th quarter worth approximately $273,239,000. FMR LLC grew its stake in shares of CGI by 2,854.5% in the third quarter. FMR LLC now owns 1,622,077 shares of the technology company’s stock worth $159,884,000 after purchasing an additional 1,567,176 shares during the last quarter. Mackenzie Financial Corp increased its holdings in CGI by 15.0% in the third quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock valued at $598,239,000 after purchasing an additional 805,973 shares during the period. Clearbridge Investments LLC bought a new position in CGI during the 4th quarter worth $85,909,000. Finally, Bank of Nova Scotia lifted its holdings in CGI by 100.0% during the 3rd quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company’s stock worth $138,450,000 after buying an additional 702,339 shares during the period. Institutional investors own 66.68% of the company’s stock.

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.