CGI Group (GIB) Upgraded to Buy at Zacks Investment Research

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) traded down $0.42 during trading on Tuesday, reaching $53.95. 90,025 shares of the company’s stock traded hands, compared to its average volume of 172,160. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.29. CGI Group has a 52-week low of $45.81 and a 52-week high of $54.99. The company has a market cap of $13,730.00, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.89 and a beta of 0.87.

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.

COPYRIGHT VIOLATION WARNING: This report was originally published by Week Herald and is the property of of Week Herald. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at https://weekherald.com/2018/01/17/cgi-group-gib-upgraded-to-buy-at-zacks-investment-research.html.

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.

Analyst Recommendations for CGI Group (NYSE:GIB)

Receive News & Ratings for CGI Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply