CGI Group Inc. (GIB) Hits New 52-Week High at $49.58
Shares of CGI Group Inc. (NYSE:GIB) hit a new 52-week high during mid-day 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.
A number of research firms have recently weighed in on GIB. BMO Capital Markets reaffirmed a “buy” rating on shares of CGI Group in a research note on Thursday, April 28th. Barclays PLC upped their price target on shares of CGI Group from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, April 28th. Canaccord Genuity began coverage on shares of CGI Group in a research note on Tuesday, May 3rd. They issued a “buy” rating on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $41.00 price target on shares of CGI Group in a research note on Thursday, April 28th. Finally, Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $49.20.
The stock’s 50 day moving average price is $45.46 and its 200-day moving average price is $45.15. The stock has a market capitalization of $14.72 billion and a P/E ratio of 19.44.
CGI Group (NYSE:GIB) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. During the same period in the prior year, the business earned $0.80 earnings per share. The firm had revenue of $2.67 billion for 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 predict that CGI Group Inc. will post $2.64 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. I.G. Investment Management LTD. boosted 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 worth $84,849,000 after buying an additional 112,254 shares in the last quarter. Morgan Stanley boosted 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. Finally, Dimensional Fund Advisors LP boosted 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.
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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