CGI Group (NYSE:GIB) Cut to Hold at TD Securities

CGI Group (NYSE:GIB) (TSE:GIB.A) was downgraded by stock analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Thursday, Marketbeat.com reports.

GIB has been the subject of a number of other reports. UBS Group lowered their target price on CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada cut shares of CGI Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $150.00 to $100.00 in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $83.67.

CGI Group Stock Down 1.5%

Shares of CGI Group stock opened at $65.67 on Thursday. The firm has a market cap of $13.89 billion, a P/E ratio of 11.85 and a beta of 0.48. The business has a 50-day moving average price of $66.01 and a 200 day moving average price of $73.28. The company has a quick ratio of 0.68, a current ratio of 0.95 and a debt-to-equity ratio of 0.28. CGI Group has a fifty-two week low of $59.63 and a fifty-two week high of $103.04.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.65. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company posted $2.12 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that CGI Group will post 6.54 earnings per share for the current fiscal year.

Institutional Trading of CGI Group

Several institutional investors have recently modified their holdings of GIB. Millennium Management LLC boosted its stake in CGI Group by 786.2% during the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock valued at $8,141,000 after buying an additional 72,277 shares in the last quarter. Kepler Cheuvreux Suisse SA grew its holdings in CGI Group by 7.5% during the fourth quarter. Kepler Cheuvreux Suisse SA now owns 78,358 shares of the technology company’s stock worth $7,232,000 after acquiring an additional 5,457 shares during the period. Davis Rea LTD. raised its position in CGI Group by 15.9% in the fourth quarter. Davis Rea LTD. now owns 42,200 shares of the technology company’s stock worth $3,900,000 after acquiring an additional 5,779 shares in the last quarter. Jane Street Group LLC raised its position in CGI Group by 29.4% in the first quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock worth $1,284,000 after acquiring an additional 2,921 shares in the last quarter. Finally, Danske Bank A S lifted its holdings in CGI Group by 24.1% in the 4th quarter. Danske Bank A S now owns 10,834 shares of the technology company’s stock valued at $1,002,000 after acquiring an additional 2,103 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

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.