CGI Group Inc (NYSE:GIB) (TSE:GIB.A) has earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $71.00.
GIB has been the topic of a number of recent analyst reports. Scotiabank increased their target price on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Barclays increased their target price on CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Zacks Investment Research upgraded CGI Group from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Monday, February 5th. ValuEngine upgraded CGI Group from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 target price (up previously from $75.00) on shares of CGI Group in a research report on Thursday, November 9th.
CGI Group (GIB) traded down $0.11 during trading on Tuesday, reaching $58.89. The company’s stock had a trading volume of 109,696 shares, compared to its average volume of 250,745. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. CGI Group has a 1-year low of $45.81 and a 1-year high of $59.20. The stock has a market cap of $16,690.51, a price-to-earnings ratio of 21.84, a PEG ratio of 1.92 and a beta of 0.77.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $0.90 EPS. The business’s revenue was up 5.3% on a year-over-year basis. sell-side analysts forecast that CGI Group will post 3.36 earnings per share for the current fiscal year.
CGI Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 31st that permits the company to repurchase 20,590,000 outstanding shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Hedge funds have recently made changes to their positions in the business. Greenleaf Trust lifted its holdings in CGI Group by 97.5% in the 4th quarter. Greenleaf Trust now owns 2,015 shares of the technology company’s stock valued at $109,000 after purchasing an additional 995 shares in the last quarter. Advisor Group Inc. lifted its holdings in CGI Group by 21.2% in the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after purchasing an additional 380 shares in the last quarter. Premia Global Advisors LLC purchased a new position in CGI Group in the 4th quarter valued at $188,000. Two Sigma Securities LLC purchased a new position in CGI Group in the 4th quarter valued at $216,000. Finally, GHP Investment Advisors Inc. purchased a new position in CGI Group in the 3rd quarter valued at $240,000. Institutional investors own 58.86% of the company’s stock.
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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.
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