CGI (NYSE:GIB) Upgraded to Buy by TD Securities

CGI (NYSE:GIB) (TSE:GIB.A) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a report issued on Thursday, FinViz reports.

Separately, StockNews.com lowered CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th.

CGI Stock Performance

Shares of GIB opened at $99.36 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a 50-day moving average of $110.34 and a two-hundred day moving average of $106.89. The stock has a market cap of $23.08 billion, a P/E ratio of 19.37, a P/E/G ratio of 2.22 and a beta of 0.93. CGI has a one year low of $93.07 and a one year high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. CGI had a net margin of 11.34% and a return on equity of 20.65%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.59 billion. As a group, research analysts predict that CGI will post 5.69 EPS for the current year.

Hedge Funds Weigh In On CGI

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in CGI in the 4th quarter worth $273,239,000. FMR LLC boosted its stake in shares of CGI by 2,854.5% in the third quarter. FMR LLC now owns 1,622,077 shares of the technology company’s stock worth $159,884,000 after acquiring an additional 1,567,176 shares during the last quarter. Mackenzie Financial Corp raised its stake in CGI by 15.0% in the 3rd quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock valued at $598,239,000 after purchasing an additional 805,973 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in CGI during the 4th quarter worth $85,909,000. Finally, Bank of Nova Scotia lifted its stake in shares of CGI by 100.0% in the third quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company’s stock worth $138,450,000 after buying an additional 702,339 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Company Profile

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.