CGI Group, Inc. (GIB) Cut to “Hold” at Zacks Investment Research
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
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 topic of a number of other research reports. Barclays PLC reaffirmed an “overweight” rating and issued a $60.00 target price (up previously from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd. BidaskClub cut CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. CGI Group currently has a consensus rating of “Hold” and an average price target of $64.00.
CGI Group (NYSE GIB) traded up $0.65 during trading hours on Friday, hitting $53.25. The company had a trading volume of 158,682 shares, compared to its average volume of 141,810. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.78. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 1.84 and a beta of 0.91.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.78 billion. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. CGI Group’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. equities analysts anticipate that CGI Group will post 2.91 EPS for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. grew its holdings in CGI Group by 0.3% during the second quarter. NN Investment Partners Holdings N.V. now owns 15,172 shares of the technology company’s stock worth $648,000 after purchasing an additional 49 shares during the period. US Bancorp DE grew its holdings in CGI Group by 2.4% during the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares during the period. World Asset Management Inc grew its holdings in CGI Group by 0.8% during the first quarter. World Asset Management Inc now owns 16,825 shares of the technology company’s stock worth $806,000 after purchasing an additional 134 shares during the period. BerganKDV Wealth Management LLC grew its holdings in CGI Group by 1.5% during the second quarter. BerganKDV Wealth Management LLC now owns 15,973 shares of the technology company’s stock worth $816,000 after purchasing an additional 238 shares during the period. Finally, Lincoln National Corp grew its holdings in CGI Group by 3.4% during the second quarter. Lincoln National Corp now owns 7,973 shares of the technology company’s stock worth $407,000 after purchasing an additional 263 shares during the period. 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.
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