StockNews.com Upgrades CGI (NYSE:GIB) to Hold

StockNews.com upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a sell rating to a hold rating in a research note released on Friday morning.

GIB has been the topic of several other research reports. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and increased their price target for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. UBS Group initiated coverage on shares of CGI in a research report on Friday, July 19th. They set a “neutral” rating and a $112.00 target price for the company. Finally, Sanford C. Bernstein upgraded CGI to a “strong-buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $137.00.

CGI Stock Up 0.3 %

Shares of NYSE GIB traded up $0.31 during mid-day trading on Friday, reaching $107.39. 178,429 shares of the company traded hands, compared to its average volume of 150,070. The company’s fifty day moving average is $113.74 and its two-hundred day moving average is $107.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. CGI has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. The stock has a market cap of $24.48 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96.

CGI Announces Dividend

The business also recently declared a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 20th.

Institutional Trading of CGI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of CGI by 288.2% in the third quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock valued at $91,000 after buying an additional 585 shares during the period. CWM LLC raised its holdings in CGI by 14.8% in the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after acquiring an additional 176 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of CGI by 9.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $205,000 after acquiring an additional 173 shares during the period. Werba Rubin Papier Wealth Management acquired a new stake in shares of CGI during the 3rd quarter worth approximately $208,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of CGI during the third quarter valued at approximately $209,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.