CGI (NYSE:GIB) Downgraded to Neutral by CIBC

CIBC lowered shares CGI (NYSE:GIB – Free Report) (TSE:GIB.A) from an outperform sector rating to a neutral rating in a research note issued to investors Friday morning, Marketbeat.com reports.

GIB has been the subject of numerous other reports. On Monday, March 11, StockNews.com downgraded CGI shares from buy to hold. On Thursday, May 2, in a research report, TD Securities increased its recommendation on CGI shares from hold to buy.

Read our latest report on CGI

CGI rotation down 0.6%

On Friday, NYSE:GIB opened at $99.19. The company has a 50-day moving average price of $102.22 and a 200-day moving average price of $107.38. CGI has a 12 month low of $93.07 and a 12 month high of $118.89. The company has a current ratio of 1.17, a quick ratio of 0.86 and a debt to equity ratio of 0.22. The market value of the company’s shares is $22.89 billion, the price-to-earnings ratio is 19.11, the P/E/G ratio is 2.29 and the beta is 0.95.

CGI (NYSE:GIB – Get Free Report) (TSE:GIB.A) last posted its earnings results on Wednesday, May 1st. The technology company reported EPS of $1.46 for the quarter, which topped the consensus estimate of $1.44 by $0.02. CGI achieved a net margin of 11.38% and a return on equity of 20.43%. The company had revenue of $2.77 billion for the quarter, compared to analyst expectations of $2.79 billion. Stock analysts predict that CGI will record 5.57 EPS this year.

CGI Institutional Trading

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Janiczek Wealth Management LLC increased its holdings in CGI by 4.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 3,340 shares of the technology company’s stock valued at $358,000 after purchasing an additional 143 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in CGI by 0.5% during the first quarter. Sequoia Financial Advisors LLC now owns 30,933 shares of the technology company’s stock valued at $3,418,000 after purchasing an additional 149 shares in the last quarter. JCIC Asset Management Inc. increased its stake in CGI by 0.5% in the first quarter. JCIC Asset Management Inc. now owns 32,860 shares of the technology company’s stock valued at $3,627,000 after purchasing an additional 160 shares in the last quarter. CWM LLC increased its holdings in CGI by 19.1% during the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after purchasing an additional 190 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in CGI by 6.2% during the 4th quarter. Truist Financial Corp now owns 3,402 shares of the technology company’s stock valued at $365,000 after purchasing an additional 198 shares in the last quarter. Currently, 66.68% of the shares are in the hands of institutional investors.

About CGI

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CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include business and strategic IT consulting, system integration and software solutions. The company also provides services in the field of development, modernization and maintenance of applications, comprehensive digitization of enterprises, automation, hybrid and cloud management and services related to business processes; solutions based on intellectual property; Business Consultation; managed IT services; and services related to IT infrastructure.

CGI rotation down 0.6%

CGI Institutional Trading

About CGI

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