Zacks Investment Research downgraded shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

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 have also recently commented on the stock. BidaskClub upgraded shares of CGI Group from a hold rating to a buy rating in a report on Thursday, June 29th. Beacon Securities reiterated a buy rating on shares of CGI Group in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. CGI Group presently has an average rating of Hold and an average target price of $57.00.

Shares of CGI Group (NYSE GIB) traded down 0.34% during trading on Wednesday, hitting $50.43. The stock had a trading volume of 68,111 shares. The stock has a 50 day moving average of $49.84 and a 200 day moving average of $48.34. The firm has a market cap of $14.94 billion, a PE ratio of 18.74 and a beta of 0.92. CGI Group has a 52-week low of $42.09 and a 52-week high of $51.88.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.01. CGI Group had a net margin of 10.31% and a return on equity of 17.38%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts anticipate that CGI Group will post $2.86 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This article was first published by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another domain, it was stolen and reposted in violation of United States & international copyright and trademark law. The original version of this article can be read at https://www.dailypolitical.com/2017/07/06/cgi-group-inc-gib-downgraded-to-hold-at-zacks-investment-research.html.

A number of large investors have recently modified their holdings of GIB. Norges Bank bought a new stake in shares of CGI Group during the fourth quarter valued at about $119,931,000. Renaissance Technologies LLC boosted its stake in shares of CGI Group by 470.6% in the first quarter. Renaissance Technologies LLC now owns 248,800 shares of the technology company’s stock valued at $11,929,000 after buying an additional 205,200 shares in the last quarter. AGF Investments Inc. boosted its stake in shares of CGI Group by 28.6% in the first quarter. AGF Investments Inc. now owns 917,379 shares of the technology company’s stock valued at $43,905,000 after buying an additional 203,800 shares in the last quarter. Cumberland Partners Ltd bought a new stake in shares of CGI Group during the first quarter valued at about $8,914,000. Finally, Morgan Stanley boosted its stake in shares of CGI Group by 38.4% in the first quarter. Morgan Stanley now owns 596,523 shares of the technology company’s stock valued at $28,592,000 after buying an additional 165,506 shares in the last quarter. Institutional investors own 63.24% of the company’s stock.

About CGI Group

CGI Group Inc (CGI), directly or through its subsidiaries, manages information technology (IT) services, as well as business process services (BPS). The Company’s services include the management of IT and business functions (outsourcing), systems integration and consulting, as well as the sale of software solutions.

Get a free copy of the Zacks research report on CGI Group (GIB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CGI Group (NYSE:GIB)

Receive News & Ratings for CGI Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.