CGI Group (NYSE:GIB) Receives “Hold” Rating from Jefferies Financial Group

CGI Group (NYSE:GIB) (TSE:GIB.A)‘s stock had its “hold” rating restated by investment analysts at Jefferies Financial Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $81.00 price target on the technology company’s stock, down from their previous price target of $105.00. Jefferies Financial Group’s price objective would indicate a potential downside of 6.10% from the company’s previous close.

GIB has been the subject of a number of other reports. Royal Bank Of Canada lowered their price objective on shares of CGI Group from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday. TD Securities raised shares of CGI Group to a “strong-buy” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of CGI Group in a research report on Wednesday, October 8th. Finally, UBS Group decreased their price objective on CGI Group from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $117.00.

CGI Group Price Performance

GIB opened at $86.26 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $19.23 billion, a P/E ratio of 15.94, a PEG ratio of 1.46 and a beta of 0.71. The stock has a 50-day moving average price of $90.41 and a 200-day moving average price of $98.52. CGI Group has a 12-month low of $84.24 and a 12-month high of $122.79.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, November 5th. The technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $4 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.CGI Group’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $1.92 EPS. Equities analysts predict that CGI Group will post 5.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of CGI Group by 10.1% during 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 during the period. Vanguard Group Inc. boosted its holdings in CGI Group by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company’s stock valued at $802,338,000 after acquiring an additional 94,266 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its position in CGI Group by 22.5% during 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 raised its holdings in CGI Group by 0.9% in the 1st quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company’s stock worth $474,702,000 after purchasing an additional 41,631 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in CGI Group by 2.1% in the 1st quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company’s stock worth $437,770,000 after purchasing an additional 89,458 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.