Bank of America started coverage on shares of CGI (NYSE:GIB) (TSE:GIB.A) in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $83.00 price objective on the technology company’s stock.
GIB has been the subject of a number of other reports. CIBC lowered shares of CGI from a sector outperform rating to a neutral rating in a report on Thursday, April 25th. Zacks Investment Research raised shares of CGI from a hold rating to a buy rating and set a $74.00 price target for the company in a report on Friday, February 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $80.00.
GIB opened at $73.07 on Thursday. The firm has a market cap of $20.04 billion, a P/E ratio of 22.76, a PEG ratio of 2.30 and a beta of 0.57. CGI has a twelve month low of $57.35 and a twelve month high of $73.84. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.28.
A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in CGI by 59.0% during the 1st quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock worth $39,000 after acquiring an additional 213 shares in the last quarter. Cigna Investments Inc. New grew its holdings in CGI by 6.7% during the 4th quarter. Cigna Investments Inc. New now owns 3,617 shares of the technology company’s stock worth $222,000 after acquiring an additional 227 shares in the last quarter. US Bancorp DE grew its holdings in CGI by 7.1% during the 1st quarter. US Bancorp DE now owns 4,155 shares of the technology company’s stock worth $285,000 after acquiring an additional 274 shares in the last quarter. Csenge Advisory Group grew its holdings in CGI by 9.7% during the 1st quarter. Csenge Advisory Group now owns 3,713 shares of the technology company’s stock worth $255,000 after acquiring an additional 327 shares in the last quarter. Finally, Bremer Bank National Association acquired a new position in CGI during the 1st quarter worth $25,000. 56.79% of the stock is owned by institutional investors.
CGI Company Profile
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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