CGI (NYSE:GIB) Downgraded to "Neutral" at CIBC

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A was downgraded by research analysts at CIBC from a "sector outperform" rating to a "neutral" rating in a note issued to investors on Friday, Marketbeat.com reports.

Several other equities analysts have also issued reports on GIB. StockNews.com lowered CGI from a "buy" rating to a "hold" rating in a report on Monday, March 11th. TD Securities raised CGI from a "hold" rating to a "buy" rating in a research report on Thursday, May 2nd.

CGI Stock Down 0.6 %

Shares of NYSE GIB traded down $0.64 during trading on Friday, hitting $99.19. The stock had a trading volume of 204,321 shares, compared to its average volume of 154,963. The firm has a fifty day moving average of $102.22 and a two-hundred day moving average of $107.38. The company has a market capitalization of $22.89 billion, a PE ratio of 19.11, a PEG ratio of 2.29 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. CGI has a 12 month low of $93.07 and a 12 month high of $118.89.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.02. The business had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.79 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. As a group, equities research analysts forecast that CGI will post 5.57 EPS for the current fiscal year.

Institutional Trading of CGI

Several hedge funds have recently added to or reduced their stakes in the stock. EULAV Asset Management increased its stake in shares of CGI by 8.7% during the 1st quarter. EULAV Asset Management now owns 376,610 shares of the technology company's stock worth $41,612,000 after purchasing an additional 30,200 shares during the last quarter. Tidal Investments LLC bought a new position in CGI during the first quarter valued at $226,000. Janus Henderson Group PLC increased its position in CGI by 3,776.8% in the first quarter. Janus Henderson Group PLC now owns 699,798 shares of the technology company's stock worth $77,381,000 after buying an additional 681,747 shares during the last quarter. Manhattan West Asset Management LLC raised its stake in shares of CGI by 4.7% in the first quarter. Manhattan West Asset Management LLC now owns 29,574 shares of the technology company's stock valued at $3,268,000 after buying an additional 1,324 shares during the period. Finally, Guardian Capital Advisors LP raised its stake in shares of CGI by 56.7% in the first quarter. Guardian Capital Advisors LP now owns 10,584 shares of the technology company's stock valued at $1,121,000 after buying an additional 3,830 shares during the period. Institutional investors own 66.68% of the company's stock.

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.