Zacks Investment Research Lowers CGI (NYSE:GIB) to Sell

Zacks Investment Research lowered shares of CGI (NYSE:GIB) (TSE:GIB.A) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “CGI provides the full range of IT services including consulting, systems integration and the management of business and IT functions. The company’s primary focus is large scale systems integration and outsourcing contracts. “

Other equities research analysts have also recently issued reports about the stock. Bank of America cut shares of CGI from a buy rating to an underperform rating and raised their target price for the stock from $93.00 to $95.00 in a research report on Tuesday, September 14th. raised their target price on shares of CGI from C$125.00 to C$130.00 and gave the stock a buy rating in a research report on Thursday, November 11th. Desjardins reissued a buy rating and issued a C$132.00 target price on shares of CGI in a research report on Sunday, November 14th. The Goldman Sachs Group initiated coverage on shares of CGI in a research report on Sunday, January 9th. They issued a sell rating and a $85.44 target price on the stock. Finally, Scotiabank raised their target price on shares of CGI from C$127.00 to C$131.00 and gave the stock an outperform rating in a research report on Thursday, November 11th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $117.75.

CGI stock opened at $85.68 on Tuesday. CGI has a 12-month low of $74.58 and a 12-month high of $93.93. The stock has a market capitalization of $21.00 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.20 and a beta of 1.05. The firm’s 50-day moving average is $86.23 and its two-hundred day moving average is $88.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.25 and a quick ratio of 0.98.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, November 10th. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.04. CGI had a net margin of 11.29% and a return on equity of 20.14%. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, analysts forecast that CGI will post 4.7 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. JFS Wealth Advisors LLC purchased a new stake in shares of CGI during the third quarter valued at approximately $32,000. Ancora Advisors LLC purchased a new stake in shares of CGI during the third quarter valued at approximately $85,000. PNC Financial Services Group Inc. raised its stake in shares of CGI by 8.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,470 shares of the technology company’s stock valued at $124,000 after purchasing an additional 114 shares during the period. C M Bidwell & Associates Ltd. raised its stake in shares of CGI by 104.1% during the second quarter. C M Bidwell & Associates Ltd. now owns 1,490 shares of the technology company’s stock valued at $135,000 after purchasing an additional 760 shares during the period. Finally, JJJ Advisors Inc. raised its stake in shares of CGI by 23.1% during the third quarter. JJJ Advisors Inc. now owns 1,580 shares of the technology company’s stock valued at $134,000 after purchasing an additional 297 shares during the period. Institutional investors own 51.44% of the company’s stock.

About CGI

CGI, Inc engages in the provision of information technology (IT) and consulting services. It operates through the following segments: Northern Europe, Canada, France, U.S. Commercial and State Government, U.S. Federal, U.K., Eastern, Central and Southern Europe (ECS) and Asia Pacific Global Delivery Centers of Excellence (APC).

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