CGI Group’s (NYSE:GIB) “Overweight” Rating Reaffirmed at Barclays PLC
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A)‘s stock had its “overweight” rating reaffirmed by equities researchers at Barclays PLC in a research report issued on Wednesday. They presently have a $60.00 price target on the technology company’s stock, up from their prior price target of $55.00. Barclays PLC’s price objective indicates a potential upside of 18.55% from the company’s previous close.
A number of other equities analysts have also recently issued reports on GIB. Zacks Investment Research cut CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Beacon Securities restated a “buy” rating on shares of CGI Group in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $61.00.
CGI Group (NYSE:GIB) opened at 50.61 on Wednesday. The firm has a 50-day moving average of $51.73 and a 200-day moving average of $49.00. The company has a market cap of $14.89 billion, a price-to-earnings ratio of 17.71 and a beta of 0.93. CGI Group has a 52 week low of $45.73 and a 52 week high of $53.65.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.78 billion. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 EPS. Equities analysts forecast that CGI Group will post $2.92 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of CGI Group during the first quarter worth about $173,000. Quantitative Systematic Strategies LLC purchased a new position in shares of CGI Group during the second quarter worth about $202,000. Marshall Wace North America L.P. purchased a new position in shares of CGI Group during the second quarter worth about $214,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of CGI Group during the first quarter worth about $205,000. Hedge funds and other institutional investors own 63.36% of the company’s stock.
CGI Group Company Profile
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.
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