Shares of CGI Group Inc (NYSE:GIB) (TSE:GIB.A) have earned an average rating of “Buy” from the seven research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $71.00.
Several research analysts have recently commented on the company. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Monday, February 5th. ValuEngine raised CGI Group from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Finally, Barclays boosted their price target on CGI Group from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GIB. Jarislowsky Fraser Ltd raised its position in shares of CGI Group by 19.8% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 8,278,011 shares of the technology company’s stock worth $428,249,000 after acquiring an additional 1,366,578 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in CGI Group by 58.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,315,530 shares of the technology company’s stock valued at $180,133,000 after buying an additional 1,219,578 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in CGI Group during the 4th quarter valued at about $60,517,000. Franklin Resources Inc. increased its position in CGI Group by 284.0% during the 4th quarter. Franklin Resources Inc. now owns 1,044,010 shares of the technology company’s stock valued at $56,763,000 after buying an additional 772,125 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in CGI Group by 164.4% during the 4th quarter. Mackenzie Financial Corp now owns 1,224,359 shares of the technology company’s stock valued at $66,519,000 after buying an additional 761,285 shares in the last quarter. 59.79% of the stock is owned by hedge funds and other institutional investors.
Shares of CGI Group (NYSE:GIB) traded down $0.58 during midday trading on Friday, reaching $58.74. The company’s stock had a trading volume of 56,185 shares, compared to its average volume of 249,803. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. The company has a market cap of $17,171.41, a price-to-earnings ratio of 21.81, a PEG ratio of 1.98 and a beta of 0.73. CGI Group has a 1-year low of $46.27 and a 1-year high of $59.89.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.78 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.78 billion. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. equities research analysts anticipate that CGI Group will post 3.34 earnings per share for the current year.
CGI Group declared that its board has approved a stock buyback program on Wednesday, January 31st that authorizes the company to repurchase 20,590,000 shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
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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