CGI Group (NYSE:GIB) (TSE:GIB.A) had its target price increased by analysts at Barclays from $60.00 to $63.00 in a report released on Thursday. The firm presently has an “overweight” rating on the technology company’s stock. Barclays’ price objective suggests a potential upside of 8.12% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Tuesday, January 16th. Scotiabank lifted their price objective on CGI Group from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price objective (up from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $69.75.
CGI Group (NYSE GIB) traded up $1.11 during midday trading on Thursday, hitting $58.27. The stock had a trading volume of 303,284 shares, compared to its average volume of 189,491. The firm has a market cap of $14,830.00, a PE ratio of 20.52, a P/E/G ratio of 1.93 and a beta of 0.87. CGI Group has a one year low of $45.81 and a one year high of $58.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.06 and a quick ratio of 0.72.
CGI Group announced that its Board of Directors has approved a share repurchase program on Wednesday, January 31st that authorizes the company to buyback 20,590,000 shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. grew its stake in shares of CGI Group by 21.2% during the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock worth $111,000 after purchasing an additional 380 shares during the period. Voya Investment Management LLC grew its stake in shares of CGI Group by 11.1% during the second quarter. Voya Investment Management LLC now owns 8,371 shares of the technology company’s stock worth $427,000 after purchasing an additional 837 shares during the period. Regentatlantic Capital LLC grew its stake in shares of CGI Group by 1.6% during the third quarter. Regentatlantic Capital LLC now owns 61,541 shares of the technology company’s stock worth $3,192,000 after purchasing an additional 960 shares during the period. DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of CGI Group by 0.9% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 130,860 shares of the technology company’s stock worth $7,125,000 after purchasing an additional 1,115 shares during the period. Finally, ETRADE Capital Management LLC grew 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 acquiring an additional 1,784 shares during the period. 58.82% of the stock is owned by institutional investors and hedge funds.
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About CGI Group
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.
