Jefferies Financial Group Begins Coverage on CGI (NYSE:GIB)

Research analysts at Jefferies Financial Group assumed coverage on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a note issued to investors on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $120.00 price target on the technology company’s stock. Jefferies Financial Group’s target price points to a potential upside of 21.10% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on GIB. StockNews.com downgraded shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. CIBC downgraded shares of CGI from a “sector outperform” rating to a “neutral” rating in a research report on Friday, June 21st. Finally, TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd.

CGI Trading Down 0.7 %

Shares of GIB stock opened at $99.09 on Tuesday. The firm has a 50 day moving average price of $101.87 and a two-hundred day moving average price of $107.27. The company has a quick ratio of 0.86, a current ratio of 1.17 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $22.87 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.31 and a beta of 0.95. CGI has a 12-month low of $93.07 and a 12-month high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.02. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.79 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. As a group, analysts predict that CGI will post 5.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. EULAV Asset Management raised its position in CGI by 8.7% during the first quarter. EULAV Asset Management now owns 376,610 shares of the technology company’s stock valued at $41,612,000 after purchasing an additional 30,200 shares in the last quarter. Tidal Investments LLC acquired a new position in CGI during the first quarter valued at approximately $226,000. Janus Henderson Group PLC raised its position in CGI by 3,776.8% during the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company’s stock valued at $77,381,000 after purchasing an additional 681,747 shares in the last quarter. Manhattan West Asset Management LLC raised its position in CGI by 4.7% during the first quarter. Manhattan West Asset Management LLC now owns 29,574 shares of the technology company’s stock valued at $3,268,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Guardian Capital Advisors LP raised its position in CGI by 56.7% during the first quarter. Guardian Capital Advisors LP now owns 10,584 shares of the technology company’s stock valued at $1,121,000 after purchasing an additional 3,830 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Company Profile

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.