CGI Group (NYSE:GIB) Stock Keeps Sector Perform Rating at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed its “sector perform” rating on CGI Group and maintained a $100 price target, implying 43.78% upside from the previous close.
• Analyst sentiment is broadly neutral: CGI has a consensus “Hold” rating from seven analysts, with an average target price of $83.67. TD Securities recently downgraded the stock to “Hold,” while Weiss Ratings upgraded it from “Sell” to “Hold.”
• CGI shares opened at $69.55, with a $14.4 billion market capitalization and a 52-week range of $59.63 to $95.20. Institutional investors own 66.68% of the company’s stock.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A's stock had its "sector perform" rating restated by investment analysts at Royal Bank Of Canada in a report released on Tuesday, Benzinga reports. They currently have a $100.00 price objective on the technology company's stock. Royal Bank Of Canada's price objective indicates a potential upside of 43.78% from the stock's previous close.

A number of other brokerages also recently commented on GIB. Weiss Ratings upgraded CGI Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, September 17th. TD Securities downgraded CGI Group from a "buy" rating to a "hold" rating in a report on Thursday, July 23rd. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $83.67.

CGI Group Price Performance

Shares of CGI Group stock opened at $69.55 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The company has a market cap of $14.40 billion, a PE ratio of 11.95 and a beta of 0.47. The business has a 50 day moving average of $72.28 and a 200 day moving average of $69.75. CGI Group has a 52 week low of $59.63 and a 52 week high of $95.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in CGI Group by 21.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company's stock valued at $98,000 after buying an additional 237 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of CGI Group by 48.0% in the 3rd quarter. Versant Capital Management Inc now owns 2,313 shares of the technology company's stock worth $158,000 after purchasing an additional 750 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of CGI Group in the 1st quarter worth $204,000. Glenmede Trust Co. NA increased its holdings in shares of CGI Group by 38.3% in the 1st quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company's stock worth $249,000 after purchasing an additional 944 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of CGI Group in the 1st quarter worth $470,000. Institutional investors own 66.68% of the company's stock.

CGI Group Company Profile

CGI Inc, formerly known as CGI Group Inc, is a Canadian information technology and business consulting services company headquartered in Montreal, Quebec. Founded in 1976 by Serge Godin and André Imbeau, the company has grown into a global provider of technology and business solutions for commercial and government clients.

CGI's services include IT and business consulting, systems integration, application development and maintenance, managed IT services, cybersecurity, cloud computing, and business process services.