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

A number of analysts recently weighed in on GIB shares. Zacks Investment Research lowered shares of CGI Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. BMO Capital Markets reissued a “buy” rating on shares of CGI Group in a report on Thursday, April 28th. Barclays PLC increased their price target 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. TD Securities initiated coverage on shares of CGI Group in a report on Monday, April 4th. They issued a “buy” rating on the stock. Finally, Deutsche Bank AG reissued a “sell” rating and issued a $32.00 price target on shares of CGI Group in a report on Thursday, March 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $49.83.

The firm has a market capitalization of $13.24 billion and a P/E ratio of 18.19. The stock’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 for the quarter, beating the consensus estimate of $0.88 by $0.02. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the firm earned $0.78 EPS. CGI Group’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts forecast that CGI Group Inc. will post $3.49 earnings per share for the current fiscal year.

Other institutional investors have recently modified their holdings of the company. I.G. Investment Management LTD. increased 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 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 valued at $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 valued at $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 valued at $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 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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