CGI Group Inc (NYSE:GIB) (TSE:GIB.A) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $59.82 and last traded at $59.82, with a volume of 109691 shares changing hands. The stock had previously closed at $59.63.
A number of research analysts have issued reports on GIB shares. Zacks Investment Research lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. ValuEngine raised shares of CGI Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Barclays upped their price target on shares of CGI Group from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $71.00.
The stock has a market capitalization of $15,220.00, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 1.98 and a beta of 0.73. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.24.
CGI Group announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 31st that authorizes the company to repurchase 20,590,000 shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CGI Group by 2.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,044 shares of the technology company’s stock valued at $4,865,000 after purchasing an additional 2,278 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in CGI Group by 75.1% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 153,191 shares of the technology company’s stock worth $8,344,000 after buying an additional 65,681 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in CGI Group by 19.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 17,226 shares of the technology company’s stock worth $894,000 after buying an additional 2,788 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in CGI Group by 9.1% during the third quarter. Commonwealth Bank of Australia now owns 28,861 shares of the technology company’s stock worth $1,491,000 after buying an additional 2,417 shares during the last quarter. Finally, USS Investment Management Ltd acquired a new position in CGI Group during the fourth quarter worth $6,980,000. 59.79% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.themarketsdaily.com/2018/03/12/cgi-group-gib-hits-new-52-week-high-at-59-82.html.
CGI Group Company Profile
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.
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.