CGI's (GIB) Outperform Rating Reiterated at Royal Bank of Canada

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A's stock had its "outperform" rating reaffirmed by Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They presently have a $178.00 target price on the technology company's stock. Royal Bank of Canada's target price points to a potential upside of 63.09% from the company's previous close.

A number of other equities research analysts have also recently issued reports on GIB. StockNews.com upgraded shares of CGI from a "sell" rating to a "hold" rating in a report on Friday, November 15th. Cibc World Mkts upgraded CGI from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 15th. Finally, CIBC raised CGI from a "neutral" rating to an "outperformer" rating and raised their price objective for the company from $155.00 to $178.00 in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $147.25.

CGI Stock Down 0.6 %

GIB traded down $0.62 during midday trading on Monday, hitting $109.14. 188,414 shares of the company's stock traded hands, compared to its average volume of 142,205. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The company has a market cap of $24.87 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.55 and a beta of 0.94. The stock's fifty day simple moving average is $111.17 and its 200-day simple moving average is $110.30. CGI has a one year low of $96.92 and a one year high of $118.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GIB. Wilmington Savings Fund Society FSB bought a new position in CGI in the third quarter worth $28,000. Blue Trust Inc. lifted its position in CGI by 288.2% during the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company's stock worth $91,000 after buying an additional 585 shares in the last quarter. CWM LLC raised its holdings in shares of 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 purchasing an additional 176 shares during the period. Werba Rubin Papier Wealth Management bought a new position in shares of CGI during the 3rd quarter worth approximately $208,000. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of CGI during the 3rd quarter worth about $209,000. Institutional investors own 66.68% of the company's stock.

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.