CGI Group Inc. (GIB) Upgraded to Hold by 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 report 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 research reports. Canaccord Genuity reiterated a “buy” rating on shares of CGI Group in a report on Thursday, September 8th. Desjardins upgraded CGI Group from a “hold” rating to a “buy” rating in a report on Friday, May 27th. 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $49.20.
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CGI Group (NYSE:GIB) traded up 0.64% during mid-day trading on Tuesday, reaching $47.21. The company’s stock had a trading volume of 160,638 shares. The company has a market capitalization of $14.29 billion, a price-to-earnings ratio of 19.07 and a beta of 0.93. CGI Group has a one year low of $34.83 and a one year high of $50.58. The stock has a 50-day moving average price of $48.50 and a 200-day moving average price of $46.42.
CGI Group (NYSE:GIB) last posted its earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company earned $2.67 billion during the quarter, compared to analyst estimates of $2.67 billion. CGI Group had a return on equity of 17.06% and a net margin of 9.61%. CGI Group’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. Equities research analysts forecast that CGI Group will post $2.64 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of CGI Group by 2.5% in the second quarter. Legal & General Group Plc now owns 1,061,707 shares of the company’s stock valued at $45,120,000 after buying an additional 25,853 shares in the last quarter. AHL Partners LLP increased its stake in shares of CGI Group by 268.2% in the second quarter. AHL Partners LLP now owns 74,334 shares of the company’s stock valued at $3,175,000 after buying an additional 54,148 shares in the last quarter. Jane Street Group LLC increased its stake in shares of CGI Group by 29.2% in the second quarter. Jane Street Group LLC now owns 52,148 shares of the company’s stock valued at $2,227,000 after buying an additional 11,786 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of CGI Group during the second quarter valued at $1,185,000. Finally, Water Island Capital LLC increased its stake in shares of CGI Group by 654.0% in the second quarter. Water Island Capital LLC now owns 46,279 shares of the company’s stock valued at $1,977,000 after buying an additional 40,141 shares in the last quarter. Institutional investors own 71.75% of the company’s stock.
CGI Group Company Profile
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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