CGI Inc (NYSE:GIB) (TSE:GIB.A) has been given an average recommendation of “Buy” by the eight research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $81.50.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded CGI from a “buy” rating to a “hold” rating in a report on Monday, May 6th. CIBC downgraded CGI from a “sector outperform” rating to a “neutral” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets restated a “buy” rating on shares of CGI in a report on Wednesday, January 16th.
Several institutional investors and hedge funds have recently modified their holdings of GIB. Bremer Bank National Association acquired a new position in shares of CGI in the 1st quarter worth approximately $25,000. Rockefeller Capital Management L.P. acquired a new position in shares of CGI in the 1st quarter worth approximately $25,000. Parallel Advisors LLC grew its position in shares of CGI by 59.0% in the 1st quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock worth $39,000 after acquiring an additional 213 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in shares of CGI in the 1st quarter worth approximately $54,000. Finally, Bartlett & Co. LLC acquired a new position in shares of CGI in the 1st quarter worth approximately $56,000. Institutional investors own 58.75% of the company’s stock.
CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.28. CGI had a return on equity of 18.34% and a net margin of 10.29%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business earned $1.04 EPS. CGI’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that CGI will post 3.55 EPS for the current year.
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
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