CGI Group (GIB) Rating Reiterated by Royal Bank Of Canada

CGI Group (NYSE:GIB) (TSE:GIB.A)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank Of Canada in a research report issued on Thursday, November 9th, Marketbeat.com reports. They presently have a $85.00 target price on the technology company’s stock, up from their prior target price of $75.00. Royal Bank Of Canada’s target price suggests a potential upside of 58.46% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Friday, July 21st. Barclays restated an “overweight” rating and set a $60.00 target price (up previously from $55.00) on shares of CGI Group in a research note on Thursday, August 3rd. Finally, BidaskClub cut shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $68.75.

Shares of CGI Group (NYSE GIB) opened at $53.64 on Thursday. The company has a market cap of $15,978.41, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.91 and a beta of 0.91. CGI Group has a 1 year low of $45.81 and a 1 year high of $54.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.06 and a quick ratio of 0.72.

Several institutional investors have recently bought and sold shares of the company. Guardian Capital LP increased its holdings in shares of CGI Group by 1.9% in the 3rd quarter. Guardian Capital LP now owns 3,369,589 shares of the technology company’s stock worth $174,262,000 after buying an additional 64,252 shares during the last quarter. Bank of Nova Scotia Trust Co. increased its holdings in shares of CGI Group by 26.1% in the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 66,167 shares of the technology company’s stock worth $3,432,000 after buying an additional 13,682 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of CGI Group by 19.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,226 shares of the technology company’s stock worth $894,000 after buying an additional 2,788 shares during the last quarter. Lenox Wealth Management Inc. increased its holdings in shares of CGI Group by 31.5% in the 3rd quarter. Lenox Wealth Management Inc. now owns 26,658 shares of the technology company’s stock worth $1,382,000 after buying an additional 6,393 shares during the last quarter. Finally, AMP Capital Investors Ltd increased its holdings in shares of CGI Group by 12.1% in the 3rd quarter. AMP Capital Investors Ltd now owns 149,877 shares of the technology company’s stock worth $7,753,000 after buying an additional 16,214 shares during the last quarter. Hedge funds and other institutional investors own 57.46% of the company’s stock.

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CGI Group Company Profile

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.

Analyst Recommendations for CGI Group (NYSE:GIB)

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