CGI’s (GIB) “Outperform” Rating Reaffirmed at Royal Bank of Canada

CGI (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They currently have a $178.00 price target on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 60.61% from the stock’s current price.

GIB has been the topic of a number of other research reports. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price objective for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, CGI currently has an average rating of “Buy” and a consensus price target of $147.25.

CGI Stock Performance

Shares of NYSE GIB traded up $1.07 during mid-day trading on Monday, hitting $110.83. The company had a trading volume of 21,005 shares, compared to its average volume of 84,784. The stock has a market cap of $25.26 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.55 and a beta of 0.94. The firm’s 50 day simple moving average is $111.27 and its two-hundred day simple moving average is $110.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. CGI has a 12 month low of $96.92 and a 12 month high of $118.89.

Institutional Trading of CGI

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI increased its holdings in shares of CGI by 23.6% in the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after buying an additional 861,771 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of CGI by 68.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares during the last quarter. Barclays PLC raised its position in shares of CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after purchasing an additional 308,040 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of CGI by 1.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock valued at $1,876,550,000 after purchasing an additional 230,000 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in shares of CGI by 2.7% in the 3rd quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock valued at $505,173,000 after purchasing an additional 114,864 shares during the period. 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.