CGI Group, Inc. (GIB) Hits New 12-Month High at $54.29

Shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.29 and last traded at $54.11, with a volume of 59100 shares traded. The stock had previously closed at $53.88.

Several research firms recently issued reports on GIB. Scotiabank increased their target price on CGI Group from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $85.00 target price (up previously from $75.00) on shares of CGI Group in a research report on Thursday, November 9th. Zacks Investment Research cut CGI Group from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. BidaskClub cut CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Barclays PLC reiterated an “overweight” rating and set a $60.00 target price (up previously from $55.00) on shares of CGI Group in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $68.75.

The company has a market cap of $13,840.00, a PE ratio of 19.39, a PEG ratio of 1.91 and a beta of 0.91. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.29.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in CGI Group by 6.9% during the 2nd quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock valued at $1,110,566,000 after buying an additional 1,400,049 shares in the last quarter. Jarislowsky Fraser Ltd grew its holdings in CGI Group by 19.8% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 8,278,011 shares of the technology company’s stock valued at $428,249,000 after buying an additional 1,366,578 shares in the last quarter. Vanguard Group Inc. grew its holdings in CGI Group by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,605,314 shares of the technology company’s stock valued at $289,794,000 after buying an additional 306,352 shares in the last quarter. Guardian Capital LP grew its holdings in CGI Group by 1.9% during the 3rd quarter. Guardian Capital LP now owns 3,369,589 shares of the technology company’s stock valued at $174,262,000 after buying an additional 64,252 shares in the last quarter. Finally, TD Asset Management Inc. grew its holdings in CGI Group by 19.5% during the 3rd quarter. TD Asset Management Inc. now owns 3,196,280 shares of the technology company’s stock valued at $165,217,000 after buying an additional 520,675 shares in the last quarter. Institutional investors and hedge funds own 58.84% of the company’s stock.

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About CGI Group

CGI Group Inc (CGI), directly or through its subsidiaries, manages information technology (IT) services, as well as business process services (BPS). The Company’s services include the management of IT and business functions (outsourcing), systems integration and consulting, as well as the sale of software solutions.

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