Zacks Investment Research upgraded shares of CGI Group (NYSE:GIB) (TSE:GIB.A) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $59.00 target price on the technology company’s stock.
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. “
A number of other research firms have also recently commented on GIB. Royal Bank of Canada reiterated an outperform rating and set a $85.00 target price (up from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. Scotiabank lifted their target price on CGI Group from $71.00 to $72.00 and gave the stock an outperform rating in a research note on Thursday, November 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $69.00.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). CGI Group had a return on equity of 17.51% and a net margin of 9.52%. equities research analysts expect that CGI Group will post 3.15 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Advisor Group Inc. boosted its position in shares of CGI Group by 21.2% during the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after buying an additional 380 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of CGI Group by 11.1% in the second quarter. Voya Investment Management LLC now owns 8,371 shares of the technology company’s stock worth $427,000 after buying an additional 837 shares during the period. Regentatlantic Capital LLC raised its stake in shares of CGI Group by 1.6% in the third quarter. Regentatlantic Capital LLC now owns 61,541 shares of the technology company’s stock worth $3,192,000 after buying an additional 960 shares during the period. ETRADE Capital Management LLC raised its stake in shares of CGI Group by 14.6% in the third quarter. ETRADE Capital Management LLC now owns 13,968 shares of the technology company’s stock worth $725,000 after buying an additional 1,784 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of CGI Group by 2.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,044 shares of the technology company’s stock worth $4,865,000 after buying an additional 2,278 shares during the period. 66.55% of the stock is currently owned by institutional investors.
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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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