CGI Group (NYSE:GIB) Price Target Cut to $175.00 by Analysts at Royal Bank Of Canada

Key Points

• Analysts at Royal Bank Of Canada have decreased the price target for CGI Group from $185.00 to $175.00, maintaining an "outperform" rating.
• UBS Group has also lowered its price target for the stock from $112.00 to $105.00 and provided a "neutral" rating, reflecting mixed sentiment among analysts.
• CGI Group reported a miss in earnings, with EPS of $1.48 compared to expectations of $1.50, and revenue of $2.80 billion versus anticipated $4.05 billion.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A had its price target decreased by analysts at Royal Bank Of Canada from $185.00 to $175.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Royal Bank Of Canada's price objective points to a potential upside of 80.04% from the stock's previous close.

Separately, UBS Group reduced their price target on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CGI Group has an average rating of "Buy" and an average price target of $148.25.

CGI Group Stock Performance

Shares of CGI Group stock traded up $0.13 on Thursday, hitting $97.20. 237,739 shares of the company's stock were exchanged, compared to its average volume of 274,675. The company has a 50-day simple moving average of $104.72 and a 200-day simple moving average of $106.56. The stock has a market capitalization of $21.81 billion, a PE ratio of 17.71, a PEG ratio of 1.85 and a beta of 0.76. CGI Group has a 1 year low of $92.85 and a 1 year high of $122.79. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 1.27.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same period last year, the firm posted $1.97 EPS. CGI Group's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts anticipate that CGI Group will post 5.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GIB. Federation des caisses Desjardins du Quebec grew its holdings in shares of CGI Group by 22.5% in the first quarter. Federation des caisses Desjardins du Quebec now owns 4,933,984 shares of the technology company's stock worth $491,725,000 after purchasing an additional 907,876 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of CGI Group by 1,190.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock worth $92,438,000 after purchasing an additional 780,370 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of CGI Group by 10.1% in 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 last quarter. Goldman Sachs Group Inc. grew its holdings in shares of CGI Group by 275.3% in 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 last quarter. Finally, Bank of Montreal Can lifted its stake in CGI Group by 17.3% in the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after acquiring an additional 567,868 shares during the period. Institutional investors own 66.68% of the company's stock.

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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