Royal Bank Of Canada Reaffirms Outperform Rating for CGI Group (NYSE:GIB)

CGI Group (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank Of Canada in a report issued on Wednesday,Benzinga reports. They currently have a $150.00 price objective on the technology company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 102.67% from the company’s current price.

Other research analysts also recently issued research reports about the stock. TD Securities raised shares of CGI Group to a “strong-buy” rating in a research report on Wednesday, January 28th. Canadian Imperial Bank of Commerce downgraded shares of CGI Group from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings lowered shares of CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Finally, Scotiabank began coverage on CGI Group in a research report on Tuesday, January 27th. They set a “sector perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $112.00.

CGI Group Price Performance

Shares of GIB stock opened at $74.01 on Wednesday. CGI Group has a 1-year low of $69.96 and a 1-year high of $110.07. The stock’s 50-day moving average is $76.14 and its 200 day moving average is $85.16. The company has a market cap of $15.89 billion, a P/E ratio of 13.86 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.70.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, January 28th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.04). The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $4.08 billion. CGI Group had a return on equity of 18.61% and a net margin of 10.25%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.97 earnings per share. Research analysts predict that CGI Group will post 5.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. First Horizon Corp purchased a new position in shares of CGI Group in the third quarter worth $29,000. Strive Financial Group LLC purchased a new stake in shares of CGI Group during the fourth quarter valued at $37,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of CGI Group during the third quarter valued at $144,000. EverSource Wealth Advisors LLC increased its position in shares of CGI Group by 53.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after acquiring an additional 505 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in shares of CGI Group in the 3rd quarter valued at $174,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

About CGI Group

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.