CGI Group, Inc. (GIB) Given Average Recommendation of “Buy” by Brokerages
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been assigned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $61.00.
Several brokerages have recently issued reports on GIB. BidaskClub cut CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Barclays PLC reiterated an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CGI Group in a research report on Wednesday, August 9th. Finally, Zacks Investment Research cut CGI Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in GIB. FMR LLC boosted its stake in shares of CGI Group by 6.9% during the 2nd quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock worth $1,110,566,000 after acquiring an additional 1,400,049 shares in the last quarter. Jarislowsky Fraser Ltd boosted its stake in shares of CGI Group by 23.3% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock worth $352,623,000 after acquiring an additional 1,304,144 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of CGI Group by 37.0% during the 2nd quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock worth $103,953,000 after acquiring an additional 550,382 shares in the last quarter. Sentry Investments Corp. boosted its stake in shares of CGI Group by 31.5% during the 2nd quarter. Sentry Investments Corp. now owns 1,619,900 shares of the technology company’s stock worth $107,335,000 after acquiring an additional 388,500 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of CGI Group by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,605,314 shares of the technology company’s stock worth $289,794,000 after acquiring an additional 306,352 shares in the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.
CGI Group (NYSE GIB) traded down 1.11% during mid-day trading on Friday, reaching $51.48. The company’s stock had a trading volume of 348,869 shares. The firm’s 50 day moving average price is $50.87 and its 200 day moving average price is $49.47. The firm has a market capitalization of $15.20 billion, a P/E ratio of 17.89 and a beta of 0.92. CGI Group has a 52 week low of $45.73 and a 52 week high of $53.65.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts anticipate that CGI Group will post $3.01 EPS for the current fiscal year.
CGI Group Company Profile
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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