CGI Group, Inc. (GIB) Receives Consensus Recommendation of “Buy” from Brokerages

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has been given a consensus recommendation of “Buy” by the eleven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $61.00.

GIB has been the subject of several analyst reports. Beacon Securities reaffirmed a “buy” rating on shares of CGI Group in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research report on Friday, July 21st. BidaskClub upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Barclays PLC reiterated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd.

Several hedge funds and other institutional investors have recently modified their holdings of GIB. US Bancorp DE raised its position in CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the last quarter. Advisor Group Inc. raised its position in CGI Group by 21.2% in the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock worth $111,000 after buying an additional 380 shares during the last quarter. Quantbot Technologies LP purchased a new position in CGI Group during the first quarter worth $173,000. Quantitative Systematic Strategies LLC purchased a new position in CGI Group during the second quarter worth $202,000. Finally, Letko Brosseau & Associates Inc. purchased a new position in CGI Group during the second quarter worth $203,000. Hedge funds and other institutional investors own 71.50% of the company’s stock.

Shares of CGI Group (NYSE GIB) traded down 0.38% during midday trading on Tuesday, hitting $49.79. The stock had a trading volume of 24,893 shares. The company’s 50 day moving average price is $51.45 and its 200-day moving average price is $49.14. CGI Group has a 1-year low of $45.73 and a 1-year high of $53.65. The firm has a market capitalization of $14.70 billion, a PE ratio of 17.56 and a beta of 0.93.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The business had revenue of $2.84 billion for 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 was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. Equities analysts predict that CGI Group will post $2.92 earnings per share for the current year.

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.