CGI Group’s (GIB) “Hold” Rating Reaffirmed at Jefferies Financial Group

CGI Group (NYSE:GIB) (TSE:GIB.A)‘s stock had its “hold” rating reiterated by investment analysts at Jefferies Financial Group in a report issued on Monday,Benzinga reports. They presently have a $81.00 target price on the technology company’s stock, down from their prior target price of $105.00. Jefferies Financial Group’s price target would indicate a potential downside of 6.10% from the company’s previous close.

Several other research analysts have also issued reports on GIB. Weiss Ratings reiterated a “hold (c)” rating on shares of CGI Group in a research note on Wednesday, October 8th. TD Securities raised shares of CGI Group to a “strong-buy” rating in a research note on Friday, October 3rd. Royal Bank Of Canada lowered their target price on shares of CGI Group from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday. Finally, UBS Group cut their price target on CGI Group from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

CGI Group Trading Up 1.7%

NYSE GIB opened at $86.26 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. CGI Group has a twelve month low of $84.24 and a twelve month high of $122.79. The firm has a market capitalization of $19.23 billion, a PE ratio of 15.94, a P/E/G ratio of 1.46 and a beta of 0.71. The stock’s 50 day moving average is $90.41 and its 200 day moving average is $98.52.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, November 5th. The technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $4 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.92 earnings per share. Research analysts forecast that CGI Group will post 5.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CGI Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in CGI Group by 275.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 898,276 shares of the technology company’s stock worth $89,675,000 after buying an additional 658,925 shares in the last quarter. Principal Financial Group Inc. lifted its stake in CGI Group by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company’s stock valued at $5,505,000 after acquiring an additional 500 shares during the period. Amundi lifted its stake in CGI Group by 5.2% during the 1st quarter. Amundi now owns 358,628 shares of the technology company’s stock valued at $35,985,000 after acquiring an additional 17,740 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CGI Group during the 1st quarter valued at about $645,000. Finally, American Century Companies Inc. grew its stake in shares of CGI Group by 49.6% in the first quarter. American Century Companies Inc. now owns 41,686 shares of the technology company’s stock worth $4,162,000 after acquiring an additional 13,827 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Group Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.