CGI (NYSE:GIB) (TSE:GIB.A) posted its quarterly earnings data on Wednesday. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01, Morningstar.com reports. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.79 billion. CGI had a net margin of 9.33% and a return on equity of 18.06%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share.
GIB stock traded up $0.29 on Thursday, hitting $62.45. 234,976 shares of the company were exchanged, compared to its average volume of 200,723. CGI has a twelve month low of $51.78 and a twelve month high of $66.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.68 and a current ratio of 0.99. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61.
A number of research firms have recently weighed in on GIB. Royal Bank of Canada boosted their price objective on shares of CGI from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Investment Research raised shares of CGI from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Desjardins lowered shares of CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Barclays upped their price target on shares of CGI from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, August 2nd. Finally, Raymond James reaffirmed a “buy” rating on shares of CGI in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. CGI has an average rating of “Buy” and a consensus price target of $76.25.
Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in CGI by 206.9% during the second quarter. Janus Henderson Group PLC now owns 226,912 shares of the technology company’s stock worth $14,375,000 after purchasing an additional 152,987 shares during the last quarter. AE Wealth Management LLC acquired a new position in CGI during the second quarter worth approximately $268,000. Bridgewater Associates LP increased its position in CGI by 200.0% during the second quarter. Bridgewater Associates LP now owns 113,786 shares of the technology company’s stock worth $7,206,000 after purchasing an additional 75,863 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in CGI by 12.1% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,446,700 shares of the technology company’s stock worth $120,525,000 after purchasing an additional 156,200 shares during the last quarter. Finally, Natixis increased its position in CGI by 80.7% during the second quarter. Natixis now owns 42,630 shares of the technology company’s stock worth $2,699,000 after purchasing an additional 19,034 shares during the last quarter. 58.78% of the stock is owned by hedge funds and other institutional investors.
CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.
See Also: Price to Earnings Ratio (PE) Basics
Receive News & Ratings for CGI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI and related companies with MarketBeat.com's FREE daily email newsletter.