CGI Group (NYSE:GIB) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• CGI Group's stock has received a "hold (C)" rating from Weiss Ratings, while other analysts have varying opinions, with TD Securities giving it a "strong-buy" rating.
• The company reported $1.52 earnings per share for the last quarter, slightly beating expectations, but its revenue fell short of estimates at $3 billion.
• Institutional investors hold a significant stake in CGI Group, with over 66% of its stock owned by hedge funds and other institutions, indicating strong confidence in the company's prospects.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A's stock had its "hold (c)" rating restated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently issued reports on GIB. TD Securities raised shares of CGI Group to a "strong-buy" rating in a research note on Friday, October 3rd. UBS Group decreased their price objective on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Finally, Royal Bank Of Canada reduced their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $148.25.

CGI Group Trading Up 0.1%

Shares of NYSE:GIB traded up $0.13 during trading on Wednesday, reaching $90.69. 37,581 shares of the company were exchanged, compared to its average volume of 289,079. The firm has a market capitalization of $20.22 billion, a PE ratio of 16.77, a P/E/G ratio of 1.55 and a beta of 0.73. The business's fifty day simple moving average is $94.07 and its 200-day simple moving average is $100.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94. CGI Group has a 12-month low of $87.26 and a 12-month high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.01. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company earned $1.91 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts anticipate that CGI Group will post 5.79 EPS for the current year.

Institutional Investors Weigh In On CGI Group

Several institutional investors have recently bought and sold shares of GIB. Federation des caisses Desjardins du Quebec boosted its position in shares of CGI Group by 22.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 4,933,984 shares of the technology company's stock valued at $491,725,000 after purchasing an additional 907,876 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of CGI Group by 10.1% during the first quarter. Royal Bank of Canada now owns 8,151,753 shares of the technology company's stock worth $813,792,000 after purchasing an additional 747,918 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of CGI Group by 275.3% during the first quarter. Goldman Sachs Group Inc. now owns 898,276 shares of the technology company's stock worth $89,675,000 after purchasing an additional 658,925 shares during the period. Beutel Goodman & Co Ltd. raised its position in CGI Group by 13.0% during the second quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company's stock valued at $361,881,000 after acquiring an additional 397,005 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of CGI Group by 35.6% in the first quarter. Canada Pension Plan Investment Board now owns 956,460 shares of the technology company's stock valued at $95,499,000 after purchasing an additional 251,242 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

About CGI Group

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.

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