CGI (GIB) Given Buy Rating at Raymond James

Raymond James reiterated their buy rating on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a report published on Tuesday.

A number of other research analysts have also recently issued reports on GIB. Zacks Investment Research upgraded CGI from a hold rating to a buy rating and set a $70.00 price objective for the company in a research note on Wednesday, October 10th. Desjardins upgraded CGI from a hold rating to a buy rating in a research note on Tuesday, October 30th. Royal Bank of Canada lifted their price objective on CGI from $92.00 to $95.00 and gave the company an outperform rating in a research note on Thursday, November 8th. Finally, BMO Capital Markets reiterated a buy rating on shares of CGI in a research note on Tuesday, December 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $77.67.

NYSE:GIB traded down $0.25 during trading hours on Tuesday, reaching $64.96. 136,030 shares of the company traded hands, compared to its average volume of 194,975. The stock has a market capitalization of $17.93 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.03 and a beta of 0.61. CGI has a 1 year low of $52.69 and a 1 year high of $66.53. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.79 billion. CGI had a return on equity of 17.97% and a net margin of 9.92%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. As a group, equities research analysts predict that CGI will post 3.53 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its stake in shares of CGI by 206.9% in the second quarter. Janus Henderson Group PLC now owns 226,912 shares of the technology company’s stock worth $14,375,000 after purchasing an additional 152,987 shares during the last quarter. AE Wealth Management LLC purchased a new position in shares of CGI in the second quarter worth $268,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in shares of CGI by 12.1% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,446,700 shares of the technology company’s stock worth $120,525,000 after purchasing an additional 156,200 shares during the last quarter. Natixis raised its stake in shares of CGI by 80.7% in the second quarter. Natixis now owns 42,630 shares of the technology company’s stock worth $2,699,000 after purchasing an additional 19,034 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of CGI by 200.2% in the second quarter. Jane Street Group LLC now owns 32,636 shares of the technology company’s stock worth $2,067,000 after purchasing an additional 21,765 shares during the last quarter. Institutional investors and hedge funds own 58.54% of the company’s stock.

About CGI

CGI Group 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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