CGI Group Inc. (NYSE:GIB) rose 4.9% on Wednesday . The stock traded as high as $46.84 and last traded at $46.82, with a volume of 195,224 shares. The stock had previously closed at $44.63.

A number of equities research analysts recently commented on GIB shares. Canaccord Genuity started coverage on CGI Group in a report on Tuesday, May 3rd. They set a “buy” rating for the company. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, June 28th. Desjardins raised CGI Group from a “hold” rating to a “buy” rating in a report on Friday, May 27th. TD Securities started coverage on CGI Group in a report on Monday, April 4th. They set a “buy” rating for the company. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of CGI Group in a report on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. CGI Group has an average rating of “Buy” and an average price target of $49.83.

The firm has a market capitalization of $14.42 billion and a price-to-earnings ratio of 19.73. The company’s 50 day moving average price is $44.55 and its 200-day moving average price is $44.28.

CGI Group (NYSE:GIB) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by $0.22. The firm earned $2.67 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that CGI Group Inc. will post $2.64 EPS for the current fiscal year.

Several hedge funds and institutional investors have added to or reduced their stakes in GIB. Gulf International Bank UK Ltd increased its position in 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 during the last quarter. Dimensional Fund Advisors LP increased its position in 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 during the last quarter. Morgan Stanley increased its position in 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 during the last quarter. Freestone Capital Holdings LLC increased its position in 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 during the last quarter. Finally, I.G. Investment Management LTD. increased its position 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 worth $84,849,000 after buying an additional 112,254 shares during 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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