CGI Group Inc. (GIB) Sets New 52-Week High at $49.79
CGI Group Inc. (NYSE:GIB) shares reached a new 52-week high on Tuesday . The company traded as high as $49.79 and last traded at $49.56, with a volume of 65,166 shares changing hands. The stock had previously closed at $48.89.
GIB has been the topic of a number of recent analyst reports. BMO Capital Markets reissued a “buy” rating on shares of CGI Group in a research report on Thursday, April 28th. Zacks Investment Research raised shares of CGI Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity reissued a “buy” rating on shares of CGI Group in a research report on Monday, August 15th. Jefferies Group reissued a “hold” rating and set a $41.00 price target on shares of CGI Group in a research report on Thursday, April 28th. Finally, Barclays PLC raised their price target on shares of CGI Group from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. One investment 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’s stock. The company currently has a consensus rating of “Buy” and an average target price of $49.20.
The company has a 50 day moving average of $46.80 and a 200 day moving average of $45.54. The company has a market cap of $14.78 billion and a price-to-earnings ratio of 19.43.
CGI Group (NYSE:GIB) last posted its earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. During the same quarter in the prior year, the company posted $0.80 EPS. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.67 billion. CGI Group’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts forecast that CGI Group Inc. will post $2.70 EPS for the current year.
A hedge fund recently raised its stake in CGI Group stock. Morgan Stanley increased its stake in shares of CGI Group Inc. (NYSE:GIB) by 30.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 418,955 shares of the company’s stock after buying an additional 97,574 shares during the period. Morgan Stanley owned approximately 0.14% of CGI Group worth $16,771,000 at the end of the most recent 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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