Zacks Investment Research upgraded shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) from a hold rating to a buy rating in a report published on Friday. The brokerage currently has $54.00 price objective on the stock.
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. “
Several other equities research analysts have also recently commented on GIB. Barclays PLC boosted their target price on CGI Group from $56.00 to $57.00 and gave the company an overweight rating in a research note on Thursday, February 2nd. Societe Generale cut CGI Group from a buy rating to a hold rating in a research note on Tuesday, January 31st. National Bank Financial restated an outperform overweight rating on shares of CGI Group in a research note on Sunday, January 29th. Goldman Sachs Group, Inc. (The) cut CGI Group from a neutral rating to a sell rating in a research note on Friday, December 16th. Finally, Jefferies Group LLC restated a hold rating on shares of CGI Group in a research note on Monday, December 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. CGI Group has an average rating of Hold and a consensus target price of $52.33.
Shares of CGI Group (NYSE:GIB) opened at 47.87 on Friday. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 17.52 and a beta of 0.87. The stock has a 50 day moving average of $48.38 and a 200-day moving average of $48.04. CGI Group has a 52-week low of $39.37 and a 52-week high of $50.58.
CGI Group (NYSE:GIB) last released its quarterly earnings data on Wednesday, February 1st. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.21. CGI Group had a return on equity of 17.56% and a net margin of 10.37%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the business posted $0.84 EPS. CGI Group’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts predict that CGI Group will post $2.82 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in CGI Group by 302.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,429 shares of the company’s stock worth $103,000 after buying an additional 1,825 shares in the last quarter. Quantbot Technologies LP raised its position in CGI Group by 57.2% in the third quarter. Quantbot Technologies LP now owns 2,221 shares of the company’s stock worth $105,000 after buying an additional 808 shares in the last quarter. Acrospire Investment Management LLC raised its position in CGI Group by 597.4% in the third quarter. Acrospire Investment Management LLC now owns 2,434 shares of the company’s stock worth $116,000 after buying an additional 2,085 shares in the last quarter. Capital Fund Management S.A. purchased a new position in CGI Group during the second quarter worth $201,000. Finally, Bremer Trust National Association purchased a new position in CGI Group during the third quarter worth $201,000. 72.50% of the stock is currently owned by institutional investors and hedge funds.
CGI Group Company Profile
CGI Group Inc (CGI), through its subsidiaries, manages information technology (IT) services and business process services (BPS). The Company’s segments are United States of America (U.S.); Nordics; Canada; France (including Luxembourg and Morocco) (France); United Kingdom (U.K.); Eastern, Central and Southern Europe (primarily Netherlands and Germany) (ECS), and Asia Pacific (including Australia, India and the Philippines) (Asia Pacific).
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