CGI Group (NYSE:GIB) Stock Rating Lowered by TD Securities

CGI Group (NYSE:GIB) (TSE:GIB.A) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a research note issued on Thursday, Marketbeat reports.

A number of other brokerages also recently issued reports on GIB. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CGI Group in a research note on Wednesday, June 24th. UBS Group dropped their price objective on shares of CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, Royal Bank Of Canada cut shares of CGI Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $150.00 to $100.00 in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $83.67.

CGI Group Price Performance

NYSE:GIB opened at $66.43 on Thursday. CGI Group has a one year low of $59.63 and a one year high of $103.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.68 and a current ratio of 0.95. The stock has a market cap of $14.05 billion, a PE ratio of 11.99 and a beta of 0.48. The stock has a 50 day moving average price of $66.10 and a 200 day moving average price of $73.04.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.65 EPS for the quarter, hitting analysts’ consensus estimates of $1.65. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.05 billion. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 earnings per share. Equities research analysts expect that CGI Group will post 6.54 EPS for the current fiscal year.

Institutional Investors Weigh In On CGI Group

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its stake in shares of CGI Group by 29.4% in the 1st quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock valued at $1,284,000 after acquiring an additional 2,921 shares during the period. Danske Bank A S purchased a new position in shares of CGI Group during the 3rd quarter worth approximately $768,000. AQR Capital Management LLC acquired a new stake in CGI Group in the 1st quarter valued at approximately $347,000. Entropy Technologies LP acquired a new stake in CGI Group in the 3rd quarter valued at approximately $236,000. Finally, EverSource Wealth Advisors LLC increased its holdings in CGI Group by 53.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after purchasing an additional 505 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

About CGI Group

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.