Analysts Set CGI Group, Inc. (GIB) Price Target at $61.00
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been given an average rating of “Buy” by the eleven analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $61.00.
GIB has been the subject of a number of recent research reports. Barclays PLC restated an “overweight” rating and issued a $60.00 price objective (up from $55.00) on shares of CGI Group in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, BidaskClub lowered shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th.
Several hedge funds and other institutional investors have recently modified their holdings of GIB. FMR LLC increased its stake in shares of CGI Group by 6.9% in the second quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock worth $1,110,566,000 after buying an additional 1,400,049 shares during the period. Jarislowsky Fraser Ltd increased its stake in shares of CGI Group by 23.3% in the second quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock worth $352,623,000 after buying an additional 1,304,144 shares during the period. CIBC Asset Management Inc increased its stake in shares of CGI Group by 37.0% in the second quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock worth $103,953,000 after buying an additional 550,382 shares during the period. Sentry Investments Corp. increased its stake in shares of CGI Group by 31.5% in the second quarter. Sentry Investments Corp. now owns 1,619,900 shares of the technology company’s stock worth $107,335,000 after buying an additional 388,500 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of CGI Group by 5.8% in the second quarter. Vanguard Group Inc. now owns 5,605,314 shares of the technology company’s stock worth $289,794,000 after buying an additional 306,352 shares during the period. 70.69% of the stock is currently owned by institutional investors.
Shares of CGI Group (GIB) traded up 1.39% during trading on Friday, reaching $51.96. 261,966 shares of the company’s stock traded hands. The company’s 50-day moving average is $50.82 and its 200 day moving average is $49.55. CGI Group has a 52-week low of $45.73 and a 52-week high of $53.65. The company has a market cap of $15.34 billion, a price-to-earnings ratio of 18.06 and a beta of 0.92.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Equities analysts forecast that CGI Group will post $2.99 EPS for the current year.
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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.
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