CGI (NYSE:GIB) PT Lowered to $165.00 at CIBC

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A had its target price lowered by analysts at CIBC from $169.00 to $165.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "outperformer" rating on the technology company's stock. CIBC's price objective suggests a potential upside of 61.59% from the stock's previous close.

A number of other research firms also recently issued reports on GIB. StockNews.com downgraded CGI from a "buy" rating to a "hold" rating in a research report on Monday, March 11th. TD Securities raised CGI from a "hold" rating to a "buy" rating in a research report on Thursday.

CGI Stock Up 2.8 %

Shares of GIB traded up $2.75 during mid-day trading on Thursday, hitting $102.11. 178,136 shares of the company's stock were exchanged, compared to its average volume of 148,017. The company has a 50-day simple moving average of $110.10 and a 200 day simple moving average of $106.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 0.86. The company has a market cap of $23.72 billion, a PE ratio of 19.90, a P/E/G ratio of 2.22 and a beta of 0.93. CGI has a 52 week low of $93.07 and a 52 week high of $118.89.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. CGI had a net margin of 11.34% and a return on equity of 20.65%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.59 billion. On average, research analysts forecast that CGI will post 5.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CGI

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in CGI by 1.8% in the third quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company's stock valued at $746,389,000 after buying an additional 132,166 shares during the period. Bank of Nova Scotia raised its stake in CGI by 100.0% in the 3rd quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company's stock valued at $138,450,000 after acquiring an additional 702,339 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in CGI during the 4th quarter valued at $1,409,000. MQS Management LLC boosted its position in CGI by 26.3% during the third quarter. MQS Management LLC now owns 3,859 shares of the technology company's stock worth $380,000 after purchasing an additional 804 shares during the period. Finally, Pinnacle Associates Ltd. increased its holdings in shares of CGI by 100.0% in the fourth quarter. Pinnacle Associates Ltd. now owns 8,000 shares of the technology company's stock valued at $858,000 after purchasing an additional 4,000 shares during the last quarter. 66.68% of the stock is 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.