UBS Group Cuts CGI Group (NYSE:GIB) Price Target to $105.00

Key Points

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CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A had its price objective dropped by UBS Group from $112.00 to $105.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. UBS Group's target price would indicate a potential upside of 8.40% from the stock's previous close.

CGI Group Stock Up 1.4%

Shares of GIB stock traded up $1.38 during midday trading on Thursday, reaching $96.86. 244,483 shares of the stock were exchanged, compared to its average volume of 312,552. CGI Group has a 1 year low of $92.85 and a 1 year high of $122.79. The firm has a market cap of $21.59 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.76 and a beta of 0.72. The company's 50 day moving average is $104.29 and its two-hundred day moving average is $106.37. 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 quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.01. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 earnings per share. On average, equities research analysts predict that CGI Group will post 5.79 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC bought a new position in shares of CGI Group during the first quarter valued at $25,000. Fifth Third Bancorp increased its stake in CGI Group by 239.5% during the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after purchasing an additional 182 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of CGI Group by 292.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company's stock valued at $100,000 after acquiring an additional 749 shares in the last quarter. Versant Capital Management Inc raised its holdings in CGI Group by 371.7% in the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock worth $105,000 after acquiring an additional 829 shares during the last quarter. Finally, GeoWealth Management LLC lifted its position in CGI Group by 80.4% in the 4th quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after acquiring an additional 579 shares in the last quarter. 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.