CGI Group, Inc. (GIB) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) from a buy rating to a hold rating in a research report released on Friday.
According to Zacks, “CGI provides the full range of IT services including consulting, systems integration and the management of business and IT functions. The company’s primary focus is large scale systems integration and outsourcing contracts. “
Several other research firms also recently issued reports on GIB. Barclays PLC reaffirmed an overweight rating and set a $60.00 price target (up previously from $55.00) on shares of CGI Group in a research note on Thursday, August 3rd. BidaskClub downgraded shares of CGI Group from a buy rating to a hold rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $64.00.
Shares of CGI Group (NYSE GIB) traded up $0.47 during trading hours on Friday, reaching $53.25. 158,682 shares of the company traded hands, compared to its average volume of 153,407. The company has a market cap of $13,980.00, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.78 and a current ratio of 1.14. CGI Group has a fifty-two week low of $45.81 and a fifty-two week high of $53.85.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. CGI Group’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 EPS. equities analysts predict that CGI Group will post 2.91 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new position in shares of CGI Group during the third quarter valued at $240,000. Cumberland Partners Ltd increased its position in shares of CGI Group by 32.9% during the third quarter. Cumberland Partners Ltd now owns 488,725 shares of the technology company’s stock worth $25,274,000 after buying an additional 121,005 shares during the period. Andra AP fonden increased its position in shares of CGI Group by 5.6% during the third quarter. Andra AP fonden now owns 83,100 shares of the technology company’s stock worth $5,377,000 after buying an additional 4,400 shares during the period. Intact Investment Management Inc. increased its position in shares of CGI Group by 5.5% during the third quarter. Intact Investment Management Inc. now owns 327,400 shares of the technology company’s stock worth $21,176,000 after buying an additional 17,200 shares during the period. Finally, Regentatlantic Capital LLC increased its position in shares of CGI Group by 1.6% during the third quarter. Regentatlantic Capital LLC now owns 61,541 shares of the technology company’s stock worth $3,192,000 after buying an additional 960 shares during the period. 62.64% of the stock is owned by hedge funds and other institutional investors.
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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