CGI Group, Inc. (GIB) Earns “Outperform” Rating from Royal Bank Of Canada
Royal Bank Of Canada reiterated their outperform rating on shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) in a research report report published on Thursday, MarketBeat.com reports. The brokerage currently has a $85.00 price objective on the technology company’s stock, up from their prior price objective of $75.00.
Other equities research analysts also recently issued reports about the company. Barclays PLC reaffirmed an overweight rating and set a $60.00 target price (up from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. Zacks Investment Research raised CGI Group from a hold rating to a strong-buy rating and set a $60.00 price objective for the company in a research note on Friday, July 21st. Finally, BidaskClub lowered CGI Group from a buy rating to a hold rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $68.75.
Shares of CGI Group (GIB) traded up $0.56 during midday trading on Thursday, hitting $53.35. The stock had a trading volume of 176,200 shares, compared to its average volume of 177,692. CGI Group has a twelve month low of $45.81 and a twelve month high of $53.85. The stock has a market capitalization of $15,753.99, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.87 and a beta of 0.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.72 and a current ratio of 1.06.
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Hedge funds have recently modified their holdings of the stock. BerganKDV Wealth Management LLC lifted its stake in CGI Group by 1.5% during the second quarter. BerganKDV Wealth Management LLC now owns 15,973 shares of the technology company’s stock worth $816,000 after purchasing an additional 238 shares during the last quarter. Lincoln National Corp lifted its stake in shares of CGI Group by 3.4% in the 2nd quarter. Lincoln National Corp now owns 7,973 shares of the technology company’s stock valued at $407,000 after acquiring an additional 263 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of CGI Group by 21.2% in the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after acquiring an additional 380 shares during the last quarter. Regentatlantic Capital LLC lifted its stake in shares of CGI Group by 1.0% in the 2nd quarter. Regentatlantic Capital LLC now owns 60,581 shares of the technology company’s stock valued at $3,094,000 after acquiring an additional 575 shares during the last quarter. Finally, Knowledge Leaders Capital LLC increased its holdings in CGI Group by 0.8% in the second quarter. Knowledge Leaders Capital LLC now owns 72,473 shares of the technology company’s stock valued at $3,705,000 after purchasing an additional 577 shares during the period. Institutional investors and hedge funds own 60.16% of the company’s stock.
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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