CGI Group Inc. (GIB) Sets New 12-Month High at $49.58
CGI Group Inc. (NYSE:GIB)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $49.58 and last traded at $49.50, with a volume of 46,169 shares changing hands. The stock had previously closed at $49.12.
Several equities research analysts recently weighed in on the company. BMO Capital Markets restated a “buy” rating on shares of CGI Group in a report on Thursday, April 28th. Barclays PLC increased their target price on CGI Group from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, April 28th. Canaccord Genuity assumed coverage on CGI Group in a report on Tuesday, May 3rd. They set a “buy” rating for the company. Jefferies Group restated a “hold” rating and set a $41.00 target price on shares of CGI Group in a report on Thursday, April 28th. Finally, Desjardins cut CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. CGI Group presently has an average rating of “Buy” and an average target price of $49.20.
The firm has a 50 day moving average of $45.30 and a 200-day moving average of $45.04. The firm has a market capitalization of $14.87 billion and a price-to-earnings ratio of 19.63.
CGI Group (NYSE:GIB) last issued its earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. During the same period last year, the firm posted $0.80 earnings per share. The firm earned $2.67 billion during the quarter, compared to the consensus estimate of $2.67 billion. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that CGI Group Inc. will post $2.64 earnings per share for the current year.
Other large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake 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 during the period. Morgan Stanley boosted its stake 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 during the last quarter. Finally, I.G. Investment Management LTD. boosted its stake 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 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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