CGI (NYSE:GIB) Hits New 52-Week High at $83.64

Shares of CGI Inc (NYSE:GIB) (TSE:GIB.A) hit a new 52-week high during trading on Monday . The stock traded as high as $83.64 and last traded at $83.32, with a volume of 127168 shares. The stock had previously closed at $83.14.

GIB has been the topic of a number of research reports. Zacks Investment Research lowered shares of CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Desjardins upgraded shares of CGI from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Barclays assumed coverage on CGI in a report on Friday, September 20th. They set an “overweight” rating and a $90.00 price objective for the company. CIBC reaffirmed a “hold” rating and issued a $106.00 target price on shares of CGI in a research report on Thursday, November 7th. Finally, ValuEngine raised CGI from a “sell” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $95.60.

The stock has a fifty day moving average price of $79.99 and a two-hundred day moving average price of $77.72. The company has a market cap of $22.33 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 2.25 and a beta of 0.53. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.32.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.29. CGI had a net margin of 10.43% and a return on equity of 19.04%. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the company posted $1.09 earnings per share. CGI’s revenue was up 5.7% compared to the same quarter last year. Analysts predict that CGI Inc will post 3.94 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of GIB. Man Group plc grew its stake in CGI by 8.1% in the 3rd quarter. Man Group plc now owns 595,556 shares of the technology company’s stock valued at $47,125,000 after buying an additional 44,619 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in CGI during the third quarter valued at approximately $673,000. National Pension Service raised its stake in CGI by 5.4% in the third quarter. National Pension Service now owns 348,057 shares of the technology company’s stock worth $36,462,000 after buying an additional 17,854 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in CGI by 5.6% in the third quarter. Parametric Portfolio Associates LLC now owns 267,885 shares of the technology company’s stock worth $21,200,000 after buying an additional 14,114 shares in the last quarter. Finally, Trillium Asset Management LLC purchased a new stake in CGI during the third quarter worth $248,000. 55.69% of the stock is owned by hedge funds and other institutional investors.

CGI Company Profile (NYSE:GIB)

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.

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