CGI Group Inc. (NYSE:GIB)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $44.04, but opened at $44.26. CGI Group shares last traded at $44.91, with a volume of 73,132 shares trading hands.

A number of brokerages recently commented on GIB. BMO Capital Markets reissued a “buy” rating on shares of CGI Group in a research note on Thursday, April 28th. Barclays PLC increased their price target on CGI Group from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, April 28th. Canaccord Genuity began coverage on CGI Group in a research note on Tuesday, May 3rd. They set a “buy” rating for the company. Jefferies Group reissued a “hold” rating and set a $41.00 price target on shares of CGI Group in a research note on Thursday, April 28th. Finally, Desjardins lowered CGI Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.83.

The firm has a market capitalization of $13.47 billion and a PE ratio of 18.33. The stock has a 50 day moving average price of $45.02 and a 200 day moving average price of $43.94.

CGI Group (NYSE:GIB) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The business earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. CGI Group’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts anticipate that CGI Group Inc. will post $3.49 earnings per share for the current fiscal year.

Several institutional investors have made changes to their positions in GIB. I.G. Investment Management LTD. raised its position in shares of CGI Group by 5.6% in the fourth quarter. I.G. Investment Management LTD. now owns 2,118,149 shares of the company’s stock valued at $84,849,000 after buying an additional 112,254 shares in the last quarter. Freestone Capital Holdings LLC raised its position in shares of CGI Group by 2.2% in the fourth quarter. Freestone Capital Holdings LLC now owns 428,686 shares of the company’s stock valued at $17,160,000 after buying an additional 9,085 shares in the last quarter. Morgan Stanley raised its position in shares of CGI Group by 30.4% in the fourth quarter. Morgan Stanley now owns 418,955 shares of the company’s stock valued at $16,771,000 after buying an additional 97,574 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of CGI Group by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 165,184 shares of the company’s stock valued at $6,612,000 after buying an additional 3,626 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of CGI Group by 0.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 71,215 shares of the company’s stock valued at $2,853,000 after buying an additional 310 shares in the last quarter.

CGI Group Inc (CGI) is a Canada-based company that provides information technology (IT) consulting, systems integration, IT outsourcing and business solutions. The Company’s delivery model provides for work to be carried out onsite at client premises, or through its centers located globally. In addition, CGI has a range of business solutions, which helps its clients and shareholders.

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