CGI Group (NYSE:GIB) Earns Sector Perform Rating from Royal Bank Of Canada

CGI Group (NYSE:GIB) (TSE:GIB.A)‘s stock had its “sector perform” rating restated by investment analysts at Royal Bank Of Canada in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $100.00 price objective on the technology company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 45.07% from the stock’s current price.

GIB has been the topic of a number of other research reports. TD Securities cut shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 17th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CGI Group presently has a consensus rating of “Reduce” and an average target price of $83.67.

CGI Group Stock Down 1.0%

NYSE:GIB opened at $68.93 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.66. The firm’s 50-day moving average price is $72.13 and its 200-day moving average price is $69.72. The company has a market capitalization of $14.27 billion, a PE ratio of 11.82 and a beta of 0.47. CGI Group has a 1-year low of $59.63 and a 1-year high of $95.20.

Hedge Funds Weigh In On CGI Group

A number of hedge funds have recently bought and sold shares of GIB. EverSource Wealth Advisors LLC grew its position in CGI Group by 21.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock valued at $98,000 after purchasing an additional 237 shares during the last quarter. Versant Capital Management Inc raised its holdings in CGI Group by 48.0% in the third quarter. Versant Capital Management Inc now owns 2,313 shares of the technology company’s stock worth $158,000 after buying an additional 750 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of CGI Group in the first quarter worth approximately $204,000. Glenmede Trust Co. NA lifted its stake in shares of CGI Group by 38.3% in the first quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock worth $249,000 after buying an additional 944 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of CGI Group during the first quarter valued at approximately $470,000. Institutional investors own 66.68% of the company’s stock.

CGI Group Company Profile

CGI Inc, formerly known as CGI Group Inc, is a Canadian information technology and business consulting services company headquartered in Montreal, Quebec. Founded in 1976 by Serge Godin and André Imbeau, the company has grown into a global provider of technology and business solutions for commercial and government clients.

CGI’s services include IT and business consulting, systems integration, application development and maintenance, managed IT services, cybersecurity, cloud computing, and business process services.