CGI Group (GIB) Upgraded at Zacks Investment Research

Saturday, June 30 2018

CGI Group (GIB) Upgraded at Zacks Investment Research

Posted by Susan Goodwin on Jun 30th, 2018 // No Comments
Zacks Investment Research upgraded shares of CGI Group (NYSE:GIB) (TSE:GIB.A) from a sell rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “CGI provides the full range of IT services including consulting, systems integration and the management of business and IT functions. The company’s primary focus is large scale systems integration and outsourcing contracts. “ Get CGI Group alerts:
Separately, Barclays increased their price objective on shares of CGI Group from $63.00 to $64.00 and gave the company an overweight rating in a research report on Thursday, May 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. CGI Group presently has an average rating of Buy and a consensus target price of $71.25. GIB stock opened at $63.32 on Wednesday. The stock has a market cap of $18.07 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 2.14 and a beta of 0.73. CGI Group has a one year low of $49.02 and a one year high of $63.51. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.23.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.82 EPS for the quarter, missing the Thomson Reuters’ 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 net margin of 9.31% and a return on equity of 17.67%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. analysts predict that CGI Group will post 3.26 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the stock. LPL Financial LLC raised its position in shares of CGI Group by 15.1% in the 4th quarter. LPL Financial LLC now owns 8,340 shares of the technology company’s stock valued at $453,000 after purchasing an additional 1,091 shares during the last quarter. ETRADE Capital Management LLC raised its position in shares of CGI Group by 20.6% in the 1st quarter. ETRADE Capital Management LLC now owns 16,759 shares of the technology company’s stock valued at $966,000 after purchasing an additional 2,857 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of CGI Group by 74.0% in the 4th quarter. GHP Investment Advisors Inc. now owns 8,055 shares of the technology company’s stock valued at $438,000 after purchasing an additional 3,425 shares during the last quarter. Premia Global Advisors LLC purchased a new position in shares of CGI Group in the 4th quarter valued at approximately $188,000. Finally, Bank of New York Mellon Corp raised its position in shares of CGI Group by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 260,101 shares of the technology company’s stock valued at $14,130,000 after purchasing an additional 3,772 shares during the last quarter. 59.35% of the stock is owned by hedge funds and other institutional investors.
About CGI Group
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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