StockNews.com Begins Coverage on CGI (NYSE:GIB)

StockNews.com initiated coverage on shares of CGI (NYSE:GIB – Get Rating) (TSE:GIB.A) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the technology company’s stock.

Several other equities analysts have also issued reports on GIB. BMO Capital Markets boosted their price target on shares of CGI from C$125.00 to C$133.00 in a report on Thursday, February 2nd. TD Securities boosted their price target on shares of CGI from C$135.00 to C$145.00 in a report on Thursday, December 22nd. Scotiabank boosted their price target on shares of CGI from C$135.00 to C$140.00 in a report on Thursday, February 2nd. CIBC boosted their price target on shares of CGI from C$140.00 to C$146.00 in a report on Thursday, February 2nd. Finally, Stifel Nicolaus boosted their price target on shares of CGI from C$125.00 to C$140.00 in a report on Thursday, February 2nd.

CGI Stock Performance

Shares of CGI stock opened at $91.00 on Thursday. The firm has a fifty day moving average of $89.56 and a two-hundred day moving average of $84.27. The stock has a market capitalization of $21.70 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.81 and a beta of 0.92. CGI has a 52 week low of $72.23 and a 52 week high of $94.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.08.

Hedge Funds Weigh In On CGI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balentine LLC boosted its stake in CGI by 13.6% in the 3rd quarter. Balentine LLC now owns 5,460 shares of the technology company’s stock worth $413,000 after purchasing an additional 654 shares during the period. Natixis acquired a new position in CGI in the 2nd quarter worth $2,963,000. Quadrant Capital Group LLC boosted its stake in CGI by 68.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,378 shares of the technology company’s stock worth $189,000 after purchasing an additional 966 shares during the period. Aviva PLC lifted its position in CGI by 38.6% during the 3rd quarter. Aviva PLC now owns 132,031 shares of the technology company’s stock worth $9,985,000 after buying an additional 36,740 shares in the last quarter. Finally, Rempart Asset Management Inc. lifted its position in CGI by 0.5% during the 3rd quarter. Rempart Asset Management Inc. now owns 183,453 shares of the technology company’s stock worth $13,822,000 after buying an additional 850 shares in the last quarter. 48.54% of the stock is owned by institutional investors and hedge funds.

CGI Company Profile

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CGI, Inc engages in the provision of information technology and consulting services. It operates through the following segments: Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, UK and Australia; Finland, Poland, and Baltics, Northwest and Central-East Europe, and Asia Pacific.