Log in

CGI (NYSE:GIB) Stock Rating Lowered by Zacks Investment Research

Last updated on Wednesday, July 8th, 2020 by MarketBeat

CGI (NYSE:GIB) (TSE:GIB.A) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, "CGI provides the full range of IT services including consulting, systems integration and the management of business and IT functions. The company's primary focus is large scale systems integration and outsourcing contracts. "

Several other brokerages have also issued reports on GIB. Scotiabank restated a "buy" rating and set a $92.00 price target on shares of CGI in a research note on Thursday, April 30th. Pi Financial reiterated a "hold" rating and issued a $111.00 price objective on shares of CGI in a research note on Monday, April 27th. Canaccord Genuity reiterated a "buy" rating and issued a $100.00 price objective on shares of CGI in a research note on Tuesday, April 28th. CIBC upped their price objective on CGI from $88.00 to $91.50 and gave the company a "neutral" rating in a research note on Monday, June 15th. Finally, TheStreet upgraded CGI from a "c+" rating to a "b-" rating in a research note on Monday, June 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of "Hold" and an average price target of $101.32.

Shares of GIB stock opened at $64.03 on Wednesday. CGI has a 1 year low of $46.32 and a 1 year high of $87.13. The stock has a market cap of $16.50 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 3.09 and a beta of 0.88. The business's fifty day moving average is $64.29 and its 200-day moving average is $68.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.74 and a current ratio of 1.08.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, April 29th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.88 by $0.38. The business had revenue of $3.13 billion for the quarter, compared to analysts' expectations of $3.13 billion. CGI had a return on equity of 19.58% and a net margin of 10.10%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS. Equities research analysts predict that CGI will post 3.39 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in GIB. Marshall Wace LLP acquired a new position in shares of CGI in the 1st quarter worth approximately $110,000. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of CGI by 18.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 218,444 shares of the technology company's stock worth $15,020,000 after acquiring an additional 34,441 shares in the last quarter. Atria Investments LLC boosted its holdings in shares of CGI by 23.2% in the 4th quarter. Atria Investments LLC now owns 5,809 shares of the technology company's stock worth $486,000 after acquiring an additional 1,095 shares in the last quarter. Chevy Chase Trust Holdings Inc. acquired a new position in CGI during the 4th quarter worth $25,000. Finally, Credit Suisse AG lifted its holdings in CGI by 17.0% during the 4th quarter. Credit Suisse AG now owns 645,062 shares of the technology company's stock worth $53,997,000 after buying an additional 93,592 shares in the last quarter. 50.45% 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 in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

Read More: Compound Interest

Get a free copy of the Zacks research report on CGI (GIB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CGI (NYSE:GIB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

6 Stocks to Help You Profit Off the Coronavirus PPE Boom

Every major global event brings with it changes to our national lexicon. Before the Covid-19 pandemic, few Americans knew what the initials PPE stood for. Today, virtually anyone knows that PPE stands for personal protective equipment.

At the onset of the mitigation policies, the goal of flattening the curve was being done to prevent our health care system from becoming overwhelmed. Part of that concern stemmed from a shortage of personal protective equipment. These are the masks, gloves, goggles and gowns that help protect medical workers against viral or bacterial infections.

As the novel coronavirus became labeled a global pandemic, the global mantra became to “flatten the curve” in an effort to prevent our healthcare system from being overwhelmed.

The United States is being referred to as being on a war time footing. Manufacturers that were already producing PPE have significantly ramped up capacity. And many companies are converting their excess manufacturing capacity to produce personal protective equipment.

In fairness, this may only be a reason for some of these companies to “keep the lights on” right now. But many of these companies have a good story to tell. And it’s that story that can make them solid investments in the future.

View the "6 Stocks to Help You Profit Off the Coronavirus PPE Boom".

30 Days of MarketBeat All Access for $1.00

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

  • Best-in-Class Portfolio Monitoring

    View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

  • Stock Ideas and Recommendations

    Get daily stock ideas top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

  • Advanced Stock Screeners and Research Tools

    Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

Start Your Risk-Free Trial Subscription Here

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.