CGI Group Inc (GIB) Given Average Recommendation of “Buy” by Brokerages
Shares of CGI Group Inc (NYSE:GIB) (TSE:GIB.A) have received an average recommendation of “Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $72.33.
Several equities analysts have weighed in on the company. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Wednesday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price (up previously from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. Finally, Scotiabank increased their target price on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th.
A number of large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its stake in CGI Group by 21.2% in the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after buying an additional 380 shares during the period. Voya Investment Management LLC lifted its stake in CGI Group by 11.1% in the second quarter. Voya Investment Management LLC now owns 8,371 shares of the technology company’s stock valued at $427,000 after buying an additional 837 shares during the period. Regentatlantic Capital LLC lifted its stake in CGI Group by 1.6% in the third quarter. Regentatlantic Capital LLC now owns 61,541 shares of the technology company’s stock valued at $3,192,000 after buying an additional 960 shares during the period. DORCHESTER WEALTH MANAGEMENT Co lifted its stake in CGI Group by 0.9% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 130,860 shares of the technology company’s stock valued at $7,125,000 after buying an additional 1,115 shares during the period. Finally, ETRADE Capital Management LLC lifted its stake in CGI Group by 14.6% in the third quarter. ETRADE Capital Management LLC now owns 13,968 shares of the technology company’s stock valued at $725,000 after buying an additional 1,784 shares during the period. 66.55% of the stock is currently owned by hedge funds and other institutional investors.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). CGI Group had a net margin of 9.52% and a return on equity of 17.51%. research analysts predict that CGI Group will post 3.15 earnings per share for the current fiscal year.
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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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