Royal Bank of Canada Reaffirms “Outperform” Rating for CGI (NYSE:GIB)

CGI (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $192.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 90.09% from the company’s previous close.

Several other research firms also recently commented on GIB. UBS Group lifted their price objective on CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group dropped their price target on shares of CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $156.75.

CGI Trading Down 0.1 %

NYSE GIB traded down $0.11 on Wednesday, hitting $101.00. The company’s stock had a trading volume of 27,259 shares, compared to its average volume of 178,343. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. The firm has a market cap of $22.90 billion, a P/E ratio of 18.26, a PEG ratio of 2.58 and a beta of 0.96. The company’s 50-day simple moving average is $110.87 and its 200 day simple moving average is $111.82. CGI has a 52-week low of $96.92 and a 52-week high of $122.79.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, January 29th. The technology company reported $1.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a net margin of 11.72% and a return on equity of 19.32%. Research analysts predict that CGI will post 5.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI during the 3rd quarter valued at $28,000. Sierra Ocean LLC bought a new stake in shares of CGI in the fourth quarter worth about $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in CGI during the 4th quarter valued at approximately $83,000. Hoey Investments Inc. bought a new stake in CGI in the 4th quarter worth approximately $99,000. Finally, Blue Trust Inc. raised its holdings in shares of CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company’s stock worth $134,000 after acquiring an additional 375 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors.

About CGI

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.