CGI Group, Inc. (NYSE:GIB) Downgraded by BidaskClub to “Hold”
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.
Several other brokerages have also commented on GIB. Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a report on Friday, July 21st. Barclays PLC reissued an “overweight” rating and issued a $60.00 price target (up previously from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. Finally, Beacon Securities reissued a “buy” rating on shares of CGI Group in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. CGI Group has an average rating of “Buy” and an average target price of $61.00.
Shares of CGI Group (GIB) traded down 1.32% during mid-day trading on Thursday, hitting $49.45. 39,011 shares of the stock were exchanged. The stock’s 50-day moving average price is $51.76 and its 200-day moving average price is $49.05. The company has a market cap of $14.60 billion, a P/E ratio of 17.24 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 issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. CGI Group’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. Equities research analysts anticipate that CGI Group will post $2.89 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in GIB. US Bancorp DE raised its stake in 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 during the last quarter. Quantbot Technologies LP purchased a new position in shares of CGI Group during the first quarter valued at $173,000. Quantitative Systematic Strategies LLC purchased a new position in shares of CGI Group during the second quarter valued at $202,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of CGI Group during the first quarter valued at $205,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of CGI Group during the second quarter valued at $214,000. 63.36% of the stock is owned by institutional investors and hedge funds.
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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