CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) – Desjardins reduced their FY2017 earnings per share estimates for CGI Group in a note issued to investors on Wednesday. Desjardins analyst M. Yaghi now anticipates that the technology company will post earnings per share of $2.85 for the year, down from their prior estimate of $2.89.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share.

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GIB has been the topic of several other reports. Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Barclays PLC reiterated an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $64.00.

A number of hedge funds have recently modified their holdings of the business. BerganKDV Wealth Management LLC grew its stake in CGI Group by 1.5% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 15,973 shares of the technology company’s stock worth $816,000 after acquiring an additional 238 shares in the last quarter. Lincoln National Corp grew its stake in CGI Group by 3.4% in the 2nd quarter. Lincoln National Corp now owns 7,973 shares of the technology company’s stock worth $407,000 after acquiring an additional 263 shares in the last quarter. Advisor Group Inc. grew its stake in CGI Group by 21.2% in the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock worth $111,000 after acquiring an additional 380 shares in the last quarter. Regentatlantic Capital LLC grew its stake in CGI Group by 1.0% in the 2nd quarter. Regentatlantic Capital LLC now owns 60,581 shares of the technology company’s stock worth $3,094,000 after acquiring an additional 575 shares in the last quarter. Finally, Knowledge Leaders Capital LLC grew its stake in CGI Group by 0.8% in the 2nd quarter. Knowledge Leaders Capital LLC now owns 72,473 shares of the technology company’s stock worth $3,705,000 after acquiring an additional 577 shares in the last quarter. Institutional investors and hedge funds own 62.64% of the company’s stock.

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.

Earnings History and Estimates for CGI Group (NYSE:GIB)

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