Jefferies Financial Group Has Lowered Expectations for CGI (NYSE:GIB) Stock Price

CGI (NYSE:GIB) (TSE:GIB.A) had its target price decreased by stock analysts at Jefferies Financial Group from $140.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 21.23% from the company’s previous close.

GIB has been the topic of several other reports. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and lifted their price objective for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 price target on shares of CGI in a research report on Monday, January 6th. Finally, Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $150.75.

CGI Stock Up 0.8 %

GIB opened at $111.36 on Tuesday. CGI has a 1-year low of $96.92 and a 1-year high of $118.89. The firm’s 50 day simple moving average is $110.38 and its two-hundred day simple moving average is $110.92. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $25.38 billion, a PE ratio of 20.70, a PEG ratio of 2.33 and a beta of 0.95.

Hedge Funds Weigh In On CGI

A number of institutional investors and hedge funds have recently modified their holdings of GIB. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of CGI by 1.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after purchasing an additional 230,000 shares during the period. National Bank of Canada FI grew its holdings in CGI by 23.6% during the 3rd quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock worth $519,072,000 after acquiring an additional 861,771 shares in the last quarter. Fiera Capital Corp lifted its holdings in CGI by 2.7% during the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after buying an additional 114,864 shares during the period. Bank of Montreal Can lifted its stake in shares of CGI by 3.3% during the 3rd quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock worth $373,887,000 after purchasing an additional 104,300 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in CGI by 68.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock valued at $157,485,000 after purchasing an additional 555,017 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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.