CGI (NYSE:GIB – Get Free Report) (TSE:GIB.A) was upgraded by investment analysts at TD Securities from a “hold” rating to a “buy” rating in a report issued on Thursday, Marketbeat Ratings reports.
Separately, StockNews.com cut CGI from a “buy” rating to a “hold” rating in a report on Monday, March 11th.
View Our Latest Analysis on GIB
CGI Trading Up 1.5 %
CGI (NYSE:GIB – Get Free Report) (TSE:GIB.A) last posted its quarterly earnings results 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 11.38% and a return on equity of 20.43%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.59 billion. Analysts expect that CGI will post 5.68 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its stake in shares of CGI by 471.7% during the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock valued at $26,000 after purchasing an additional 217 shares during the period. Hexagon Capital Partners LLC increased its stake in CGI by 297.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock worth $29,000 after buying an additional 202 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in CGI in the 1st quarter worth $30,000. Group One Trading L.P. purchased a new position in CGI in the 3rd quarter valued at about $36,000. Finally, Quantbot Technologies LP acquired a new stake in shares of CGI during the third quarter valued at about $41,000. 66.68% of the stock is owned by hedge funds and other institutional investors.
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.
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