CGI Group (NYSE:GIB) Raised to Strong-Buy at TD Securities

CGI Group (NYSE:GIB) (TSE:GIB.A) was upgraded by stock analysts at TD Securities to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $81.00 target price (down from $105.00) on shares of CGI Group in a report on Monday, November 10th. Weiss Ratings restated a “hold (c-)” rating on shares of CGI Group in a report on Monday, December 29th. Scotiabank started coverage on CGI Group in a research report on Tuesday. They issued a “sector perform” rating on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of CGI Group in a report on Monday, January 5th. Finally, Cibc Captl Mkts cut CGI Group from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $117.00.

CGI Group Trading Up 0.1%

CGI Group stock opened at $85.77 on Wednesday. CGI Group has a 12 month low of $83.75 and a 12 month high of $122.79. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of 16.06 and a beta of 0.59. The business’s fifty day simple moving average is $90.97 and its two-hundred day simple moving average is $91.96. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.28.

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

Institutional Trading of CGI Group

Large investors have recently modified their holdings of the company. Yousif Capital Management LLC lifted its holdings in CGI Group by 8.1% in the second quarter. Yousif Capital Management LLC now owns 2,591 shares of the technology company’s stock valued at $272,000 after acquiring an additional 195 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in CGI Group by 2.8% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 11,443 shares of the technology company’s stock worth $1,200,000 after acquiring an additional 314 shares in the last quarter. First Horizon Corp purchased a new stake in shares of CGI Group in the third quarter worth $29,000. EverSource Wealth Advisors LLC increased its stake in CGI Group by 53.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock worth $152,000 after buying an additional 505 shares in the last quarter. Finally, Ethic Inc. grew its position in shares of CGI Group by 11.9% during the second quarter. Ethic Inc. now owns 7,092 shares of the technology company’s stock worth $733,000 after purchasing an additional 752 shares in the last quarter. Institutional investors 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.