Royal Bank Of Canada Lowers CGI Group (NYSE:GIB) Price Target to $175.00

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 cut by stock analysts at Royal Bank Of Canada from $185.00 to $175.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Royal Bank Of Canada's price objective suggests a potential upside of 82.99% from the stock's current price.

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

CGI Group Trading Up 0.2%

Shares of CGI Group stock traded up $0.16 on Thursday, hitting $95.64. The stock had a trading volume of 18,166 shares, compared to its average volume of 275,227. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. CGI Group has a one year low of $92.85 and a one year high of $122.79. The stock has a market cap of $21.32 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.76 and a beta of 0.72. The stock's 50-day simple moving average is $104.29 and its two-hundred day simple moving average is $106.37.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its 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. The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The business's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $1.91 earnings per share. As a group, sell-side analysts predict that CGI Group will post 5.79 EPS for the current year.

Hedge Funds Weigh In On CGI Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in GIB. Raymond James Financial Inc. purchased a new position in CGI Group during the fourth quarter valued at $925,000. Prudential Financial Inc. lifted its position in CGI Group by 158.0% during the fourth quarter. Prudential Financial Inc. now owns 17,400 shares of the technology company's stock valued at $1,903,000 after buying an additional 10,655 shares during the period. JPMorgan Chase & Co. lifted its position in CGI Group by 5.6% during the fourth quarter. JPMorgan Chase & Co. now owns 931,992 shares of the technology company's stock valued at $101,885,000 after buying an additional 49,362 shares during the period. Orion Portfolio Solutions LLC lifted its position in CGI Group by 8.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 9,898 shares of the technology company's stock valued at $1,082,000 after buying an additional 805 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in CGI Group by 840.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,244 shares of the technology company's stock valued at $354,000 after buying an additional 2,899 shares during the period. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Group Company Profile

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.