CGI Group (NYSE:GIB) Stock Rating Lowered by Royal Bank Of Canada

CGI Group (NYSE:GIB) (TSE:GIB.A) was downgraded by analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report released on Thursday, Marketbeat.com reports. They currently have a $100.00 target price on the technology company’s stock, down from their previous target price of $150.00. Royal Bank Of Canada’s price target indicates a potential upside of 50.32% from the stock’s previous close.

Several other equities research analysts also recently weighed in on GIB. Scotiabank initiated coverage on CGI Group in a research report on Tuesday, January 27th. They set a “sector perform” rating on the stock. Weiss Ratings downgraded CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Finally, TD Securities raised CGI Group to a “strong-buy” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $83.67.

CGI Group Stock Up 1.7%

GIB stock opened at $66.53 on Thursday. The firm’s fifty day simple moving average is $72.88 and its 200-day simple moving average is $82.66. The company has a market capitalization of $14.29 billion, a P/E ratio of 12.01 and a beta of 0.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.70. CGI Group has a 12 month low of $61.90 and a 12 month high of $110.07.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, April 29th. The technology company reported $1.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.65. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.05 billion. CGI Group had a net margin of 10.26% and a return on equity of 18.72%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.12 earnings per share. As a group, equities research analysts forecast that CGI Group will post 6.53 earnings per share for the current year.

Institutional Trading of CGI Group

Several institutional investors have recently bought and sold shares of GIB. First Horizon Corp acquired a new stake in CGI Group in the 3rd quarter valued at $29,000. Strive Financial Group LLC acquired a new position in CGI Group during the fourth quarter worth $37,000. Steigerwald Gordon & Koch Inc. acquired a new position in CGI Group during the third quarter worth $144,000. EverSource Wealth Advisors LLC lifted its holdings in CGI Group by 53.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after purchasing an additional 505 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in CGI Group during the third quarter valued at $174,000. 66.68% of the stock is owned by institutional investors and hedge funds.

About CGI Group

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.