CGI Group (GIB) Price Target Increased to $72.00 by Analysts at Scotiabank

CGI Group (NYSE:GIB) (TSE:GIB.A) had its target price hoisted by equities research analysts at Scotiabank from $71.00 to $72.00 in a note issued to investors on Thursday, November 9th. The brokerage currently has an “outperform” rating on the technology company’s stock. Scotiabank’s target price suggests a potential upside of 34.23% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Barclays restated an “overweight” rating and set a $60.00 price target (up previously from $55.00) on shares of CGI Group in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research note on Friday, July 21st. BidaskClub lowered shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $85.00 price objective (up previously from $75.00) on shares of CGI Group in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. CGI Group has a consensus rating of “Hold” and a consensus target price of $68.75.

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

Several institutional investors have recently modified their holdings of GIB. Advisor Group Inc. increased its holdings in shares of CGI Group by 21.2% in the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after purchasing an additional 380 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in CGI Group in the second quarter valued at approximately $202,000. Letko Brosseau & Associates Inc. bought a new position in CGI Group in the second quarter valued at approximately $203,000. Marshall Wace North America L.P. bought a new position in CGI Group in the second quarter valued at approximately $214,000. Finally, Intercontinental Wealth Advisors LLC bought a new position in CGI Group in the second quarter valued at approximately $217,000. 57.46% of the stock is owned by institutional investors and hedge funds.

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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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