CGI Group's (GIB) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• CGI Group's stock has been reaffirmed with a "hold (c)" rating by Weiss Ratings, while other analysts have variously rated it from "strong-buy" to "neutral."
• CGI Group reported earnings of $1.52 per share, exceeding estimates, but its revenue of $3 billion fell short of expectations of $4.01 billion for the quarter.
• The company's stock price has seen a fifty-two week range between $85.90 and $122.79, currently trading around $87.36.

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

A number of other research firms have also recently weighed in on GIB. Royal Bank Of Canada dropped their price target on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. TD Securities upgraded shares of CGI Group to a "strong-buy" rating in a research report on Friday, October 3rd. Finally, UBS Group dropped their target price on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.33.

CGI Group Price Performance

GIB stock traded down $0.92 during trading on Friday, hitting $87.36. The company had a trading volume of 184,188 shares, compared to its average volume of 334,639. The company has a fifty day moving average price of $92.29 and a two-hundred day moving average price of $99.76. CGI Group has a fifty-two week low of $85.90 and a fifty-two week high of $122.79. The company has a market cap of $19.47 billion, a P/E ratio of 16.15, a P/E/G ratio of 1.50 and a beta of 0.73. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

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 EPS for the quarter, beating 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 company had revenue of $3 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company earned $1.91 EPS. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts expect that CGI Group will post 5.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in 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 valued at $813,792,000 after buying an additional 747,918 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CGI Group by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company's stock valued at $802,338,000 after purchasing an additional 94,266 shares during the period. Federation des caisses Desjardins du Quebec raised its stake in shares of CGI Group by 22.5% in 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 during the period. Mackenzie Financial Corp grew its stake in shares of CGI Group by 0.9% during the 1st quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock worth $474,702,000 after acquiring an additional 41,631 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in shares of CGI Group by 2.1% during the 1st quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock worth $437,770,000 after acquiring an additional 89,458 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.