BMO Capital Markets Raises CGI (NYSE:GIB) Price Target to $79.75

CGI (NYSE:GIB) (TSE:GIB.A) had its price target upped by investment analysts at BMO Capital Markets from $78.25 to $79.75 in a research report issued on Thursday, The Fly reports. The firm presently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 11.93% from the company’s current price.

Other equities analysts have also issued research reports about the stock. TheStreet raised shares of CGI from a “c+” rating to a “b-” rating in a report on Monday, June 8th. Canaccord Genuity reissued a “buy” rating and issued a $100.00 target price on shares of CGI in a research note on Tuesday, April 28th. Pi Financial restated a “hold” rating and set a $111.00 price target on shares of CGI in a research report on Monday, April 27th. Royal Bank of Canada cut their price objective on CGI from $125.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Finally, CIBC raised their price objective on CGI from $88.00 to $91.50 and gave the company a “neutral” rating in a report on Monday, June 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $97.48.

CGI stock traded down $0.14 during midday trading on Thursday, hitting $71.25. 8,787 shares of the company’s stock were exchanged, compared to its average volume of 219,033. The stock has a 50-day moving average price of $64.65 and a two-hundred day moving average price of $66.52. CGI has a 52-week low of $46.32 and a 52-week high of $87.13. The company has a market cap of $18.46 billion, a P/E ratio of 21.53, a PEG ratio of 2.67 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.33.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.34. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3 billion. CGI had a return on equity of 18.99% and a net margin of 9.77%. CGI’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. As a group, sell-side analysts expect that CGI will post 3.53 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in GIB. Harvest Group Wealth Management LLC lifted its stake in CGI by 43.5% in the second quarter. Harvest Group Wealth Management LLC now owns 495 shares of the technology company’s stock worth $31,000 after acquiring an additional 150 shares during the period. Harwood Advisory Group LLC purchased a new position in shares of CGI during the first quarter valued at about $39,000. Bartlett & Co. LLC bought a new position in CGI in the first quarter worth about $41,000. Sowell Financial Services LLC purchased a new stake in CGI in the first quarter worth about $57,000. Finally, CWM LLC boosted its position in CGI by 1,353.1% during the 1st quarter. CWM LLC now owns 1,177 shares of the technology company’s stock valued at $64,000 after acquiring an additional 1,096 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

CGI Company Profile

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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