CGI Group Inc. (NYSE:GIB) 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 traded.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Desjardins upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a report on Friday, May 27th. Canaccord Genuity assumed coverage on shares of CGI Group in a report on Tuesday, May 3rd. They set a “buy” rating for the company. Barclays PLC increased their target price on shares of CGI Group from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, April 28th. Finally, BMO Capital Markets restated a “buy” rating on shares of CGI Group in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $49.83.

The stock has a market capitalization of $13.24 billion and a PE ratio of 18.19. The company’s 50 day moving average price is $44.97 and its 200 day moving average price is $43.96.

CGI Group (NYSE:GIB) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The firm earned $2.80 billion during the quarter, compared to analyst estimates of $2.73 billion. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. On average, equities analysts expect that CGI Group Inc. will post $3.49 EPS for the current year.

Several hedge funds recently added to or reduced their stakes in the stock. I.G. Investment Management LTD. raised 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 in the last quarter. Morgan Stanley raised its stake in 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. Wells Fargo & Company MN raised its stake in CGI Group by 44.1% in the fourth quarter. Wells Fargo & Company MN now owns 36,426 shares of the company’s stock valued at $1,458,000 after buying an additional 11,144 shares in the last quarter. Freestone Capital Holdings LLC raised its stake in 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. Finally, Dimensional Fund Advisors LP raised its stake in 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.

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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