Scotiabank Increases CGI (NYSE:GIB) Price Target to $102.00

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CGI (NYSE:GIB) (TSE:GIB.A) had its price target hoisted by Scotiabank from $92.00 to $102.00 in a report released on Thursday, The Fly reports. The firm currently has an “outperform” rating on the technology company’s stock. Scotiabank’s price target indicates a potential upside of 42.88% from the company’s current price.

A number of other brokerages have also recently issued reports on GIB. Desjardins increased their price objective on CGI from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Zacks Investment Research raised shares of CGI from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Tuesday. Canaccord Genuity reaffirmed a “buy” rating and set a $100.00 price objective on shares of CGI in a research note on Tuesday, April 28th. Royal Bank of Canada decreased their target price on shares of CGI from $125.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Finally, TD Securities raised their price target on shares of CGI from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. CGI currently has a consensus rating of “Buy” and an average price target of $100.86.

Shares of GIB stock opened at $71.39 on Thursday. The firm’s 50 day moving average is $64.65 and its 200 day moving average is $66.52. The stock has a market capitalization of $18.50 billion, a P/E ratio of 21.57, a PEG ratio of 2.66 and a beta of 0.88. CGI has a 12 month low of $46.32 and a 12 month high of $87.13. The company has a current ratio of 1.33, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, July 29th. The technology company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.34. CGI had a net margin of 9.77% and a return on equity of 18.99%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts predict that CGI will post 3.52 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Harvest Group Wealth Management LLC boosted its position in CGI by 43.5% during the 2nd quarter. Harvest Group Wealth Management LLC now owns 495 shares of the technology company’s stock valued at $31,000 after acquiring an additional 150 shares in the last quarter. Harwood Advisory Group LLC purchased a new position in CGI during the 1st quarter worth $39,000. Bartlett & Co. LLC acquired a new position in CGI during the 1st quarter valued at about $41,000. Sowell Financial Services LLC purchased a new stake in CGI in the first quarter valued at about $57,000. Finally, CWM LLC boosted its stake in CGI by 1,353.1% in the 1st quarter. CWM LLC now owns 1,177 shares of the technology company’s stock worth $64,000 after purchasing an additional 1,096 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

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.

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Analyst Recommendations for CGI (NYSE:GIB)

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