CGI (NYSE:GIB) Upgraded to "Hold" at StockNews.com

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

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

CGI Stock Down 0.0 %

GIB traded down $0.04 during midday trading on Friday, reaching $107.04. The company's stock had a trading volume of 72,554 shares, compared to its average volume of 149,578. The stock's 50-day moving average is $113.83 and its 200-day moving average is $107.83. CGI has a 1 year low of $96.92 and a 1 year high of $118.89. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $24.40 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.37 and a beta of 0.96.

CGI Announces Dividend

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

Hedge Funds Weigh In On CGI

Several institutional investors and hedge funds have recently made changes to their positions in GIB. Crestwood Advisors Group LLC increased its holdings in shares of CGI by 2.4% during the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company's stock valued at $485,000 after purchasing an additional 97 shares during the period. First Affirmative Financial Network boosted its position in CGI by 4.0% during the 2nd quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company's stock worth $284,000 after acquiring an additional 109 shares during the period. West Family Investments Inc. boosted its position in CGI by 5.5% during the 3rd quarter. West Family Investments Inc. now owns 2,323 shares of the technology company's stock worth $267,000 after acquiring an additional 121 shares during the period. Cigna Investments Inc. New lifted its holdings in shares of CGI by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company's stock valued at $394,000 after buying an additional 146 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of CGI by 9.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company's stock valued at $205,000 after buying an additional 173 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

About CGI

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.