CGI (NYSE:GIB) Stock Rating Upgraded by StockNews.com

CGI (NYSE:GIB) (TSE:GIB.A) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Other equities analysts also recently issued research reports about the company. Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research note on Thursday, August 1st. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and upped their price objective for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, UBS Group assumed coverage on CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $137.00.

CGI Stock Performance

GIB stock opened at $107.06 on Friday. CGI has a 12-month low of $96.92 and a 12-month high of $118.89. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $113.93 and a 200-day moving average of $107.84. The firm has a market cap of $24.40 billion, a PE ratio of 19.90, a P/E/G ratio of 2.37 and a beta of 0.96.

Institutional Investors Weigh In On CGI

Institutional investors and hedge funds have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in CGI by 127.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,546 shares of the technology company’s stock valued at $7,541,000 after purchasing an additional 36,781 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in 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 in the last quarter. Verition Fund Management LLC purchased a new stake in CGI during the third quarter valued at about $307,000. Glenmede Trust Co. NA purchased a new stake in CGI during the third quarter valued at about $273,000. Finally, Townsquare Capital LLC purchased a new stake in CGI during the third quarter valued at about $281,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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.