CGI (NYSE:GIB – Free Report) (TSE:GIB.A) had its price target trimmed by CIBC from $169.00 to $165.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperformer rating on the technology company’s stock.
Other research analysts also recently issued research reports about the company. TD Securities raised CGI from a hold rating to a buy rating in a report on Thursday. StockNews.com downgraded shares of CGI from a buy rating to a hold rating in a report on Monday, March 11th.
CGI Stock Up 1.5 %
CGI (NYSE:GIB – Get Free Report) (TSE:GIB.A) last issued its earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.59 billion. CGI had a net margin of 11.38% and a return on equity of 20.43%. As a group, analysts forecast that CGI will post 5.68 earnings per share for the current year.
Hedge Funds Weigh In On CGI
Several institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC grew its position in CGI by 471.7% in the 3rd 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 last quarter. Hexagon Capital Partners LLC raised its stake in CGI by 297.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after acquiring an additional 202 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in CGI during the 1st quarter valued at $30,000. Group One Trading L.P. acquired a new position in CGI during the 3rd quarter worth $36,000. Finally, Quantbot Technologies LP bought a new position in shares of CGI in the third quarter worth $41,000. 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.
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