Shares of CGI Group Inc. (NYSE:GIB) fell 1.9% during trading on Friday . The stock traded as low as $43.80 and last traded at $43.83, with a volume of 65,071 shares trading hands. The stock had previously closed at $44.68.

Several brokerages recently commented on GIB. BMO Capital Markets reissued a “buy” rating on shares of CGI Group in a research report on Thursday, April 28th. Barclays PLC upped their target price on shares of 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 assumed coverage on shares of CGI Group in a research note on Tuesday, May 3rd. They set a “buy” rating on the stock. Jefferies Group restated a “hold” rating and set a $41.00 target price on shares of CGI Group in a research note on Thursday, April 28th. Finally, Desjardins cut shares of 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 assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $49.83.

The firm has a 50-day moving average of $45.02 and a 200 day moving average of $43.94. The firm has a market cap of $13.24 billion and a PE ratio of 18.02.

CGI Group (NYSE:GIB) last released its quarterly earnings data on Wednesday, April 27th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.02. The firm earned $2.80 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts expect that CGI Group Inc. will post $3.49 earnings per share for the current fiscal year.

Other hedge funds have recently added to or reduced their stakes in the company. I.G. Investment Management LTD. increased its stake in 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 during the last quarter. Freestone Capital Holdings LLC increased 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 worth $17,160,000 after buying an additional 9,085 shares in the last quarter. Morgan Stanley increased 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 worth $16,771,000 after buying an additional 97,574 shares in the last quarter. Dimensional Fund Advisors LP increased 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 worth $6,612,000 after buying an additional 3,626 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased 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 worth $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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