Other equities research analysts have also issued research reports about the company. Canaccord Genuity reissued a buy rating on shares of CGI Group in a research report on Monday, August 15th. Barclays PLC raised their target price on CGI Group from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday, July 28th. Jefferies Group raised their target price on CGI Group from $46.00 to $47.00 and gave the stock a hold rating in a research report on Monday, August 1st. Zacks Investment Research lowered CGI Group from a hold rating to a sell rating in a research report on Friday, July 29th. Finally, Macquarie began coverage on CGI Group in a research report on Tuesday. They set a neutral rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $49.33.
Shares of CGI Group (NYSE:GIB) traded up 0.23% during midday trading on Monday, hitting $48.42. The stock had a trading volume of 68,932 shares. CGI Group has a one year low of $35.38 and a one year high of $50.58. The stock has a market cap of $14.66 billion, a PE ratio of 19.61 and a beta of 0.93. The firm has a 50 day moving average price of $48.39 and a 200 day moving average price of $46.61.
CGI Group (NYSE:GIB) last issued its earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. CGI Group had a return on equity of 17.06% and a net margin of 9.61%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the company earned $0.80 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts forecast that CGI Group will post $2.63 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in GIB. Tower Research Capital LLC TRC increased its position in shares of CGI Group by 302.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,429 shares of the company’s stock valued at $103,000 after buying an additional 1,825 shares during the period. US Bancorp DE increased its position in shares of CGI Group by 46.5% in the second quarter. US Bancorp DE now owns 2,519 shares of the company’s stock valued at $107,000 after buying an additional 799 shares during the period. Invictus RG bought a new position in shares of CGI Group during the first quarter valued at $125,000. Daiwa SB Investments Ltd. bought a new position in shares of CGI Group during the second quarter valued at $179,000. Finally, C M Bidwell & Associates Ltd. increased its position in shares of CGI Group by 2,367.7% in the first quarter. C M Bidwell & Associates Ltd. now owns 3,825 shares of the company’s stock valued at $183,000 after buying an additional 3,670 shares during the period. Institutional investors own 71.70% of the company’s stock.
CGI Group Company Profile
CGI Group Inc (CGI) is a Canada-based company that provides information technology (IT) consulting, systems integration, IT outsourcing and business solutions. The Company’s delivery model provides for work to be carried out onsite at client premises, or through its centers located globally. In addition, CGI has a range of business solutions, which helps its clients and shareholders.
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