CGI Group’s (GIB) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

CGI Group (NYSE:GIB) (TSE:GIB.A)‘s stock had its “sector perform” rating reiterated by Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They currently have a $100.00 price target on the technology company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 43.51% from the company’s previous close.

Several other research firms also recently commented on GIB. Weiss Ratings upgraded CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 17th. TD Securities downgraded CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, CGI Group presently has an average rating of “Reduce” and a consensus price target of $83.67.

CGI Group Price Performance

CGI Group stock opened at $69.68 on Tuesday. CGI Group has a 12 month low of $59.63 and a 12 month high of $95.20. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 0.28. The business’s 50 day simple moving average is $72.06 and its 200 day simple moving average is $69.69. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 11.95 and a beta of 0.47.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of CGI Group by 21.6% in the first quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock worth $98,000 after purchasing an additional 237 shares during the period. Versant Capital Management Inc increased its holdings in shares of 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 purchasing an additional 750 shares during the period. Venturi Wealth Management LLC bought a new position in shares of CGI Group in the first quarter worth $204,000. Glenmede Trust Co. NA increased its holdings 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 purchasing an additional 944 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of CGI Group in the first quarter worth $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.