CGI’s (GIB) “Outperform” Rating Reaffirmed at Royal Bank of Canada

by · The Cerbat Gem

CGI (NYSE:GIB – Get Free Report) (TSE:GIB.A)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They currently have a $178.00 price objective on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 64.40% from the stock’s previous close.

GIB has been the topic of several other research reports. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $147.25.

Check Out Our Latest Stock Report on CGI

CGI Price Performance

NYSE:GIB opened at $108.27 on Monday. The firm has a market cap of $24.67 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.55 and a beta of 0.95. The company’s 50-day moving average price is $111.06 and its two-hundred day moving average price is $110.37. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. CGI has a 12 month low of $96.92 and a 12 month high of $118.89.

Institutional Investors Weigh In On CGI

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position in CGI by 8.6% during the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after buying an additional 79,362 shares during the last quarter. Barclays PLC boosted its stake in shares of CGI by 182.6% during the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after acquiring an additional 308,040 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CGI by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock worth $64,518,000 after acquiring an additional 21,427 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in CGI in the 3rd quarter valued at $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CGI by 68.2% during the 3rd 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. 66.68% of the stock is owned by institutional investors.

About CGI

(Get Free Report)

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.

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