Scotiabank Raises CGI Group, Inc. (GIB) Price Target to $72.00
CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) had its target price raised by Scotiabank from $71.00 to $72.00 in a research report report published on Thursday. Scotiabank currently has an outperform rating on the technology company’s stock.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of CGI Group from a hold rating to a buy rating and set a $58.00 target price on the stock in a report on Wednesday, October 4th. BidaskClub cut shares of CGI Group from a buy rating to a hold rating in a report on Thursday, August 10th. Royal Bank Of Canada reaffirmed an outperform rating and issued a $85.00 target price (up previously from $75.00) on shares of CGI Group in a report on Thursday. Finally, Barclays PLC reaffirmed an overweight rating and issued a $60.00 target price (up previously from $55.00) on shares of CGI Group in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $68.75.
Shares of CGI Group (GIB) traded up $0.56 during trading hours on Thursday, reaching $53.35. 176,200 shares of the company traded hands, compared to its average volume of 168,508. The firm has a market capitalization of $15,753.99, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.86 and a beta of 0.91. CGI Group has a 52-week low of $45.81 and a 52-week high of $53.85. The company has a current ratio of 1.06, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.
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A number of hedge funds have recently added to or reduced their stakes in GIB. FMR LLC raised its holdings in CGI Group by 6.9% during the second quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock worth $1,110,566,000 after purchasing an additional 1,400,049 shares in the last quarter. Jarislowsky Fraser Ltd raised its holdings in CGI Group by 19.8% during the third quarter. Jarislowsky Fraser Ltd now owns 8,278,011 shares of the technology company’s stock worth $428,249,000 after purchasing an additional 1,366,578 shares in the last quarter. Ninepoint Partners LP acquired a new stake in CGI Group during the third quarter worth approximately $29,330,000. CIBC Asset Management Inc raised its holdings in CGI Group by 37.0% during the second quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock worth $103,953,000 after purchasing an additional 550,382 shares in the last quarter. Finally, TD Asset Management Inc. raised its holdings in CGI Group by 19.5% during the third quarter. TD Asset Management Inc. now owns 3,196,280 shares of the technology company’s stock worth $165,217,000 after purchasing an additional 520,675 shares in the last quarter. 62.57% of the stock is currently owned by institutional investors.
CGI Group Company Profile
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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