CGI (NYSE:GIB) Raised to Buy at TD Securities

TD Securities upgraded shares of CGI (NYSE:GIB) (TSE:GIB.A) from a hold rating to a buy rating in a research report report published on Thursday, Marketbeat.com reports.

Separately, StockNews.com lowered CGI from a buy rating to a hold rating in a report on Monday, March 11th.

CGI Stock Performance

Shares of NYSE:GIB traded up $1.57 during trading hours on Thursday, hitting $103.68. The stock had a trading volume of 181,289 shares, compared to its average volume of 189,499. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.17. The stock’s fifty day simple moving average is $110.10 and its 200 day simple moving average is $106.86. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.32 and a beta of 0.93. CGI has a 1-year low of $93.07 and a 1-year high of $118.89.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, January 31st. The technology company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. CGI had a return on equity of 20.43% and a net margin of 11.38%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Sell-side analysts anticipate that CGI will post 5.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GIB. Exchange Traded Concepts LLC lifted its position in CGI by 471.7% in the third quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock worth $26,000 after purchasing an additional 217 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of CGI by 297.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after buying an additional 202 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of CGI in the first quarter valued at $30,000. Group One Trading L.P. acquired a new stake in CGI in the 3rd quarter valued at about $36,000. Finally, Quantbot Technologies LP bought a new position in shares of CGI during the 3rd quarter valued at about $41,000. 66.68% of the stock is currently owned by 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.