CGI (NYSE:GIB) Given New C$110.00 Price Target at TD Securities

CGI (NYSE:GIB) (TSE:GIB.A) had its price target increased by research analysts at TD Securities from C$100.00 to C$110.00 in a research report issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the technology company’s stock.

GIB has been the subject of a number of other reports. Canaccord Genuity reissued a “buy” rating and set a $100.00 price objective on shares of CGI in a report on Tuesday, April 28th. TheStreet upgraded shares of CGI from a “c+” rating to a “b-” rating in a research report on Monday, June 8th. Royal Bank of Canada decreased their price objective on shares of CGI from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Desjardins lifted their target price on shares of CGI from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Scotiabank restated a “buy” rating and set a $92.00 price target on shares of CGI in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. CGI currently has an average rating of “Buy” and a consensus target price of $97.48.

GIB traded down $0.40 during midday trading on Thursday, reaching $70.99. 647 shares of the company’s stock were exchanged, compared to its average volume of 219,033. The company has a quick ratio of 1.02, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $64.65 and a two-hundred day simple moving average of $66.52. The firm has a market capitalization of $18.44 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 2.67 and a beta of 0.92. CGI has a one year low of $46.32 and a one year high of $87.13.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, July 29th. The technology company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.34. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3 billion. CGI had a return on equity of 18.99% and a net margin of 9.77%. CGI’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. As a group, research analysts anticipate that CGI will post 3.53 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Harvest Group Wealth Management LLC boosted its stake in shares of CGI by 43.5% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 495 shares of the technology company’s stock valued at $31,000 after purchasing an additional 150 shares during the last quarter. Harwood Advisory Group LLC acquired a new position in CGI in the first quarter valued at approximately $39,000. Bartlett & Co. LLC acquired a new position in CGI in the first quarter valued at approximately $41,000. Sowell Financial Services LLC bought a new position in CGI in the first quarter valued at approximately $57,000. Finally, CWM LLC grew its holdings in CGI by 1,353.1% during the 1st quarter. CWM LLC now owns 1,177 shares of the technology company’s stock worth $64,000 after acquiring an additional 1,096 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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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