CGI Inc (NYSE:GIB) (TSE:GIB.A) has been given an average recommendation of “Buy” by the nine ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $89.00.
A number of research firms have recently commented on GIB. Societe Generale cut shares of CGI from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research cut shares of CGI from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. National Bank Financial reiterated a “buy” rating on shares of CGI in a report on Wednesday, July 31st. Finally, Bank of America began coverage on shares of CGI in a report on Thursday, May 23rd. They set a “buy” rating and a $83.00 price target on the stock.
Large investors have recently bought and sold shares of the company. Bremer Bank National Association purchased a new stake in shares of CGI during the first quarter valued at approximately $25,000. Zions Bancorporation N.A. purchased a new stake in CGI in the second quarter worth approximately $28,000. Parallel Advisors LLC boosted its holdings in CGI by 59.0% in the first quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock worth $39,000 after purchasing an additional 213 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in CGI by 30.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock worth $43,000 after purchasing an additional 130 shares during the last quarter. Finally, Icon Wealth Partners LLC purchased a new stake in CGI in the first quarter worth approximately $54,000. Hedge funds and other institutional investors own 56.31% of the company’s stock.
CGI (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). CGI had a net margin of 10.32% and a return on equity of 18.78%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the business posted $1.08 EPS. CGI’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts forecast that CGI will post 3.56 earnings per share for the current fiscal year.
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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