CGI Group Inc. (NYSE:GIB) (TSE:GIB.A) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

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. “

Other analysts also recently issued reports about the stock. Canaccord Genuity restated a “buy” rating on shares of CGI Group in a research report on Thursday, September 8th. Barclays PLC raised their price objective on shares of CGI Group from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. National Bank Financial restated an “outperform overweight” rating on shares of CGI Group in a research report on Monday, September 26th. Societe Generale downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Finally, Macquarie began coverage on shares of CGI Group in a research report on Tuesday, September 27th. They set a “neutral” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $52.86.

Analyst Recommendations for CGI Group (NYSE:GIB)

CGI Group (NYSE:GIB) traded up 0.12% during mid-day trading on Tuesday, reaching $48.20. 114,032 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $47.59 and a 200-day moving average price of $46.83. The stock has a market capitalization of $14.63 billion, a PE ratio of 19.01 and a beta of 0.94. CGI Group has a 12-month low of $36.04 and a 12-month high of $50.58.

CGI Group (NYSE:GIB) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.22. CGI Group had a net margin of 10.01% and a return on equity of 17.31%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm earned $0.82 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts expect that CGI Group will post $2.79 EPS for the current year.

Several institutional investors have recently modified their holdings of GIB. Price T Rowe Associates Inc. MD boosted its position in shares of CGI Group by 8.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,480 shares of the company’s stock worth $356,000 after buying an additional 582 shares during the last quarter. LPL Financial LLC acquired a new position in shares of CGI Group during the third quarter worth approximately $361,000. The Manufacturers Life Insurance Company acquired a new position in shares of CGI Group during the third quarter worth approximately $91,984,000. UBS Group AG boosted its position in shares of CGI Group by 34.4% in the third quarter. UBS Group AG now owns 203,060 shares of the company’s stock worth $9,672,000 after buying an additional 51,940 shares during the last quarter. Finally, Echo Street Capital Management LLC boosted its position in shares of CGI Group by 115.8% in the third quarter. Echo Street Capital Management LLC now owns 373,428 shares of the company’s stock worth $17,786,000 after buying an additional 200,369 shares during the last quarter. 71.43% of the stock is owned by institutional investors and hedge funds.

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CGI Group Company Profile

CGI Group Inc (CGI) is a Canada-based company that provides information technology (IT) consulting, systems integration, IT outsourcing and business solutions. The Company’s delivery model provides for work to be carried out onsite at client premises, or through its centers located globally. In addition, CGI has a range of business solutions, which helps its clients and shareholders.

5 Day Chart for NYSE:GIB

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