Jefferies Financial Group Issues Pessimistic Forecast for CGI (NYSE:GIB) Stock Price

CGI (NYSE:GIB) (TSE:GIB.A) had its target price lowered by research analysts at Jefferies Financial Group from $140.00 to $135.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 22.64% from the company’s previous close.

GIB has been the topic of a number of other reports. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and raised their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $178.00 price target on shares of CGI in a research report on Monday, January 6th. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CGI presently has a consensus rating of “Buy” and a consensus target price of $150.75.

CGI Stock Performance

Shares of GIB traded up $1.59 during mid-day trading on Tuesday, hitting $110.08. 59,194 shares of the company traded hands, compared to its average volume of 134,851. CGI has a 1 year low of $96.92 and a 1 year high of $118.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The stock has a 50-day moving average price of $110.41 and a two-hundred day moving average price of $110.85. The stock has a market cap of $25.09 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 2.33 and a beta of 0.95.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in CGI by 8.6% during the third quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock valued at $115,844,000 after acquiring an additional 79,362 shares during the period. Barclays PLC grew its position in shares of CGI by 182.6% during the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after purchasing an additional 308,040 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in CGI by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,159 shares of the technology company’s stock valued at $64,518,000 after purchasing an additional 21,427 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in CGI in the 3rd quarter worth approximately $825,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in CGI by 68.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after purchasing an additional 555,017 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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.