A number of other research analysts have also recently commented on GIB. Zacks Investment Research upgraded CGI Group from a hold rating to a buy rating and set a $47.00 price objective on the stock in a report on Tuesday, June 28th. Jefferies Group upped their price objective on CGI Group from $46.00 to $47.00 and gave the company a hold rating in a report on Monday, August 1st. Canaccord Genuity reiterated a buy rating on shares of CGI Group in a report on Thursday, September 8th. Finally, Barclays PLC upped their price objective on CGI Group from $50.00 to $52.00 and gave the company an overweight rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $49.33.
CGI Group (NYSE:GIB) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. CGI Group had a return on equity of 17.06% and a net margin of 9.61%. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the firm posted $0.80 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the stock. Invictus RG bought a new stake in shares of CGI Group during the first quarter valued at about $125,000. Quadrature Capital Ltd bought a new stake in shares of CGI Group during the first quarter valued at about $1,357,000. BB&T Securities LLC boosted its stake in shares of CGI Group by 39.6% in the first quarter. BB&T Securities LLC now owns 16,224 shares of the company’s stock valued at $775,000 after buying an additional 4,601 shares during the last quarter. Credit Agricole S A boosted its stake in shares of CGI Group by 7.0% in the first quarter. Credit Agricole S A now owns 279,970 shares of the company’s stock valued at $13,376,000 after buying an additional 18,204 shares during the last quarter. Finally, AMF Pensionsforsakring AB boosted its stake in shares of CGI Group by 17.5% in the first quarter. AMF Pensionsforsakring AB now owns 133,040 shares of the company’s stock valued at $6,423,000 after buying an additional 19,788 shares during the last quarter. Institutional investors and hedge funds 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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