CGI Group Inc. (NYSE:GIB) has earned a consensus recommendation of “Buy” from the thirteen research firms that are covering the firm. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $49.80.
Several brokerages recently issued reports on GIB. Canaccord Genuity reiterated a “buy” rating on shares of CGI Group in a research report on Thursday, September 8th. Barclays PLC upped their target price on shares of CGI Group from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Zacks Investment Research upgraded shares of CGI Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. National Bank Financial reiterated an “outperform overweight” rating on shares of CGI Group in a research report on Monday, September 26th. Finally, Macquarie began coverage on shares of CGI Group in a research report on Tuesday, September 27th. They issued a “neutral” rating and a $50.00 target price for the company.
Shares of CGI Group (NYSE:GIB) opened at 47.00 on Friday. The stock has a 50 day moving average price of $48.11 and a 200 day moving average price of $46.80. The firm has a market capitalization of $14.23 billion, a P/E ratio of 19.07 and a beta of 0.91. CGI Group has a 52 week low of $36.04 and a 52 week high of $50.58.
CGI Group (NYSE:GIB) last announced its earnings results on Wednesday, July 27th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. CGI Group had a net margin of 9.61% and a return on equity of 17.06%. The company earned $2.67 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts forecast that CGI Group will post $2.64 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of CGI Group by 3.8% in the first quarter. Royal Bank of Canada now owns 7,065,433 shares of the company’s stock valued at $337,587,000 after buying an additional 261,245 shares during the period. Legal & General Group Plc increased its position in shares of CGI Group by 3.0% in the first quarter. Legal & General Group Plc now owns 1,035,854 shares of the company’s stock valued at $49,707,000 after buying an additional 29,783 shares during the period. British Columbia Investment Management Corp increased its position in shares of CGI Group by 3.0% in the second quarter. British Columbia Investment Management Corp now owns 34,200 shares of the company’s stock valued at $1,125,000 after buying an additional 1,000 shares during the period. Shell Asset Management Co. increased its position in shares of CGI Group by 1.2% in the second quarter. Shell Asset Management Co. now owns 23,777 shares of the company’s stock valued at $1,312,000 after buying an additional 279 shares during the period. Finally, Invictus RG purchased a new position in shares of CGI Group during the first quarter valued at approximately $125,000. 71.70% of the stock is owned by hedge funds and other institutional investors.
About CGI Group
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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