CGI Group, Inc. (NYSE:GIB) Receives Average Recommendation of “Reduce” from Brokerages

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) have been given an average recommendation of “Reduce” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $83.6667.

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of CGI Group in a report on Wednesday, June 24th. Royal Bank Of Canada downgraded shares of CGI Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $150.00 to $100.00 in a research report on Thursday, April 30th. UBS Group cut their price target on CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, TD Securities downgraded CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd.

CGI Group Stock Performance

Shares of GIB opened at $71.46 on Wednesday. CGI Group has a one year low of $59.63 and a one year high of $103.04. The business has a fifty day moving average of $66.32 and a 200 day moving average of $72.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.68. The firm has a market capitalization of $15.11 billion, a P/E ratio of 12.90 and a beta of 0.48.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, April 29th. The technology company reported $1.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.65. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.05 billion. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $2.12 earnings per share. As a group, sell-side analysts anticipate that CGI Group will post 6.54 EPS for the current year.

Institutional Investors Weigh In On CGI Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIB. AQR Capital Management LLC bought a new position in shares of CGI Group in the first quarter worth approximately $347,000. Millennium Management LLC lifted its stake in shares of CGI Group by 786.2% during the 1st quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock valued at $8,141,000 after buying an additional 72,277 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of CGI Group by 29.4% during the 1st quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock valued at $1,284,000 after buying an additional 2,921 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in CGI Group by 53.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock worth $152,000 after buying an additional 505 shares during the period. Finally, Entropy Technologies LP bought a new position in CGI Group in the 3rd quarter worth $236,000. Institutional investors own 66.68% of the company’s stock.

CGI Group Company Profile

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.