CGI Group (NYSE:GIB) (TSE:GIB.A) shares reached a new 52-week high and low during mid-day trading on Tuesday . The stock traded as low as $60.96 and last traded at $60.47, with a volume of 7888 shares. The stock had previously closed at $60.30.
GIB has been the subject of several analyst reports. Barclays increased their price target on shares of CGI Group from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. ValuEngine raised shares of CGI Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.25.
The firm has a market capitalization of $17.27 billion, a PE ratio of 21.78, a PEG ratio of 2.04 and a beta of 0.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.68 and a current ratio of 0.99.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.88 billion. CGI Group had a return on equity of 17.67% and a net margin of 9.31%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. analysts anticipate that CGI Group will post 3.26 EPS for the current fiscal year.
CGI Group declared that its Board of Directors has initiated a share buyback plan 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 plans are typically an indication that the company’s management believes its stock is undervalued.
Institutional investors have recently modified their holdings of the business. Greenleaf Trust increased its holdings in CGI Group by 97.5% in the fourth quarter. Greenleaf Trust now owns 2,015 shares of the technology company’s stock valued at $109,000 after buying an additional 995 shares in the last quarter. Premia Global Advisors LLC purchased a new position in CGI Group in the fourth quarter valued at about $188,000. Two Sigma Securities LLC purchased a new position in CGI Group in the fourth quarter valued at about $216,000. Candriam Luxembourg S.C.A. purchased a new position in CGI Group in the fourth quarter valued at about $279,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in CGI Group in the fourth quarter valued at about $344,000. 59.18% of the stock is owned by institutional investors.
CGI Group Company Profile
CGI Group Inc provides information technology and business process services in Canada and internationally. It offers application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; business-to-business and customer operations support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services.
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