CGI (NYSE:GIB) Earns Outperform Rating from Royal Bank of Canada

CGI (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report released on Monday,Benzinga reports. They currently have a $178.00 target price on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 64.40% from the stock’s current price.

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

CGI Price Performance

GIB opened at $108.27 on Monday. The stock has a fifty day moving average price of $111.06 and a 200 day moving average price of $110.37. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. CGI has a 1 year low of $96.92 and a 1 year high of $118.89. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.55 and a beta of 0.95.

Hedge Funds Weigh In On CGI

Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in CGI in the third quarter valued at about $28,000. Blue Trust Inc. boosted its holdings in CGI by 288.2% during the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after purchasing an additional 585 shares in the last quarter. CWM LLC boosted its holdings in CGI by 14.8% during the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares in the last quarter. Werba Rubin Papier Wealth Management bought a new stake in shares of CGI in the 3rd quarter valued at approximately $208,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of CGI in the 3rd quarter worth approximately $209,000. Institutional investors and hedge funds 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.