CGI (NYSE:GIB) Rating Increased to Buy at Desjardins

Desjardins upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a hold rating to a buy rating in a report released on Tuesday, BenzingaRatingsTable reports.

GIB has been the subject of several other reports. Zacks Investment Research cut shares of CGI from a buy rating to a hold rating in a research note on Wednesday, August 7th. Societe Generale cut shares of CGI from a hold rating to a sell rating in a research note on Thursday, August 1st. Barclays assumed coverage on shares of CGI in a research note on Friday, September 20th. They set an overweight rating and a $90.00 target price for the company. ValuEngine cut shares of CGI from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, National Bank Financial reiterated a buy rating on shares of CGI in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $88.25.

Shares of CGI stock opened at $78.20 on Tuesday. The stock has a market capitalization of $20.96 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.15 and a beta of 0.53. CGI has a 1-year low of $57.35 and a 1-year high of $80.59. The firm has a fifty day simple moving average of $78.01 and a 200-day simple moving average of $75.23. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 0.35.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, July 31st. The technology company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. CGI had a net margin of 10.32% and a return on equity of 18.78%. CGI’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 earnings per share. As a group, research analysts predict that CGI will post 3.58 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Zions Bancorporation N.A. bought a new stake in CGI in the 2nd quarter valued at $28,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in CGI by 30.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock valued at $43,000 after buying an additional 130 shares during the period. NEXT Financial Group Inc bought a new stake in CGI in the 2nd quarter valued at $76,000. Marshall Wace LLP bought a new stake in CGI in the 1st quarter valued at $110,000. Finally, Neuburgh Advisers LLC increased its holdings in CGI by 13.6% in the 2nd quarter. Neuburgh Advisers LLC now owns 2,000 shares of the technology company’s stock valued at $148,000 after buying an additional 240 shares during the period. 55.19% of the stock is currently owned by hedge funds and other institutional investors.

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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