CGI Group Inc. (GIB) Lifted to “Hold” at Zacks Investment Research
CGI Group Inc. (NYSE:GIB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
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. “
GIB has been the subject of several other reports. Canaccord Genuity reissued a “buy” rating on shares of CGI Group in a report on Thursday, September 8th. Barclays PLC increased their price objective on CGI Group from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Desjardins raised CGI Group from a “hold” rating to a “buy” rating in a report on Friday, May 27th. Finally, Jefferies Group increased their price objective on CGI Group from $46.00 to $47.00 and gave the company a “hold” rating in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.20.
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Shares of CGI Group (NYSE:GIB) traded up 0.64% during midday trading on Tuesday, reaching $47.21. 160,638 shares of the company’s stock traded hands. The company has a market capitalization of $14.29 billion, a PE ratio of 19.07 and a beta of 0.93. The stock’s 50 day moving average is $48.50 and its 200-day moving average is $46.42. CGI Group has a 52 week low of $34.83 and a 52 week high of $50.58.
CGI Group (NYSE:GIB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The business earned $2.67 billion during the quarter, compared to the consensus estimate of $2.67 billion. CGI Group had a return on equity of 17.06% and a net margin of 9.61%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. On average, analysts forecast that CGI Group will post $2.64 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIB. Tower Research Capital LLC TRC boosted 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 valued at $103,000 after buying an additional 1,825 shares during the last quarter. US Bancorp DE boosted its position in CGI Group by 46.5% in the second quarter. US Bancorp DE now owns 2,519 shares of the company’s stock valued at $107,000 after buying an additional 799 shares during the last quarter. Invictus RG acquired a new position in CGI Group during the first quarter valued at about $125,000. Daiwa SB Investments Ltd. acquired a new position in CGI Group during the second quarter valued at about $179,000. Finally, C M Bidwell & Associates Ltd. boosted its position in CGI Group by 2,367.7% in the first quarter. C M Bidwell & Associates Ltd. now owns 3,825 shares of the company’s stock valued at $183,000 after buying an additional 3,670 shares during the last quarter. Hedge funds and other institutional investors own 71.75% of the company’s stock.
About CGI Group
CGI Group Inc (CGI) is a Canada-based company that provides information technology (IT) consulting, systems integration, IT outsourcing and business solutions. The Company’s delivery model provides for work to be carried out onsite at client premises, or through its centers located globally. In addition, CGI has a range of business solutions, which helps its clients and shareholders.
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