CGI Group Inc. (GIB) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “CGI provides the full range of IT services including consulting, systems integration and the management of business and IT functions. The company’s primary focus is large scale systems integration and outsourcing contracts. “
A number of other equities research analysts also recently issued reports on GIB. Desjardins raised shares of CGI Group from a hold rating to a buy rating in a research report on Friday, May 27th. Barclays PLC upped their price objective on shares of CGI Group from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday, July 28th. Jefferies Group upped their price objective on shares of CGI Group from $46.00 to $47.00 and gave the stock a hold rating in a research report on Monday, August 1st. Finally, Canaccord Genuity reaffirmed a buy rating on shares of CGI Group in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $49.20.
CGI Group (NYSE:GIB) opened at 47.21 on Tuesday. The company has a market capitalization of $14.29 billion, a PE ratio of 19.07 and a beta of 0.93. CGI Group has a 52 week low of $34.83 and a 52 week high of $50.58. The company has a 50-day moving average of $48.50 and a 200-day moving average of $46.42.
CGI Group (NYSE:GIB) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. CGI Group had a net margin of 9.61% and a return on equity of 17.06%. The business earned $2.67 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the firm posted $0.80 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that CGI Group will post $2.64 EPS for the current year.
Several hedge funds have recently made changes to their positions in GIB. NN Investment Partners Holdings N.V. boosted its stake in shares of CGI Group by 0.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 15,172 shares of the company’s stock worth $648,000 after buying an additional 49 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of CGI Group by 1.2% in the second quarter. Shell Asset Management Co. now owns 23,777 shares of the company’s stock worth $1,312,000 after buying an additional 279 shares during the last quarter. Raymond James & Associates boosted its stake in shares of CGI Group by 1.6% in the second quarter. Raymond James & Associates now owns 30,474 shares of the company’s stock worth $1,299,000 after buying an additional 486 shares during the last quarter. US Bancorp DE boosted its stake in shares of CGI Group by 46.5% in the second quarter. US Bancorp DE now owns 2,519 shares of the company’s stock worth $107,000 after buying an additional 799 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in shares of CGI Group by 4.5% in the second quarter. Commonwealth Bank of Australia now owns 22,673 shares of the company’s stock worth $970,000 after buying an additional 972 shares during the last quarter. Institutional investors own 71.70% of the company’s stock.
CGI Group Company Profile
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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