CGI Group’s (GIB) Outperform Rating Reiterated at Royal Bank Of Canada

CGI Group (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank Of Canada in a research report issued on Wednesday,Benzinga reports. They currently have a $150.00 target price on the technology company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 107.61% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Scotiabank assumed coverage on shares of CGI Group in a report on Tuesday, January 27th. They set a “sector perform” rating on the stock. TD Securities raised shares of CGI Group to a “strong-buy” rating in a report on Wednesday, January 28th. Finally, Canadian Imperial Bank of Commerce cut CGI Group from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $112.00.

CGI Group Trading Down 1.2%

Shares of GIB stock opened at $72.25 on Wednesday. CGI Group has a 1-year low of $69.96 and a 1-year high of $110.07. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $76.42 and a 200-day moving average of $85.23. The stock has a market cap of $15.52 billion, a price-to-earnings ratio of 13.53 and a beta of 0.58.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, January 28th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.04). CGI Group had a return on equity of 18.61% and a net margin of 10.25%.The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the business earned $1.97 EPS. CGI Group’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that CGI Group will post 5.79 earnings per share for the current year.

Institutional Investors Weigh In On CGI Group

Several institutional investors have recently made changes to their positions in GIB. Mediolanum International Funds Ltd lifted its position in shares of CGI Group by 35.1% in the 3rd quarter. Mediolanum International Funds Ltd now owns 67,190 shares of the technology company’s stock worth $5,972,000 after acquiring an additional 17,448 shares during the period. Kepler Cheuvreux Suisse SA bought a new position in CGI Group in the third quarter valued at approximately $6,498,000. Beutel Goodman & Co Ltd. lifted its stake in shares of CGI Group by 13.0% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company’s stock worth $361,881,000 after buying an additional 397,005 shares during the last quarter. Syon Capital LLC grew its position in CGI Group by 69.7% during the third quarter. Syon Capital LLC now owns 4,260 shares of the technology company’s stock worth $380,000 after buying an additional 1,749 shares in the last quarter. Finally, Rossby Financial LCC lifted its holdings in shares of CGI Group by 49,840.0% in the third quarter. Rossby Financial LCC now owns 4,994 shares of the technology company’s stock worth $449,000 after acquiring an additional 4,984 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Group Company Profile

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.