CGI Group, Inc. (NYSE:GIB) Stock Has Consensus Price Target of $83.67

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) has earned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $83.67.

Several equities analysts have recently issued reports on the company. Weiss Ratings raised CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 21st. TD Securities lowered CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $100.00 price objective on shares of CGI Group in a report on Tuesday, October 6th.

CGI Group Stock Up 0.2%

NYSE GIB opened at $82.46 on Friday. The stock has a fifty day moving average of $73.73 and a 200-day moving average of $72.30. The stock has a market capitalization of $17.08 billion, a P/E ratio of 14.14 and a beta of 0.42. CGI Group has a 52 week low of $59.63 and a 52 week high of $95.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.66 and a current ratio of 0.93.

Institutional Investors Weigh In On CGI Group

Several institutional investors have recently modified their holdings of GIB. Ritholtz Wealth Management raised its position in shares of CGI Group by 220.1% during the 3rd quarter. Ritholtz Wealth Management now owns 47,583 shares of the technology company’s stock valued at $3,237,000 after acquiring an additional 32,717 shares during the last quarter. D Orazio & Associates Inc. bought a new position in shares of CGI Group in the 3rd quarter worth $340,000. Fulcrum Asset Management LLP bought a new position in shares of CGI Group in the 3rd quarter worth $212,000. Ethic Inc. boosted its position in shares of CGI Group by 30.2% in the 3rd quarter. Ethic Inc. now owns 32,271 shares of the technology company’s stock worth $2,195,000 after purchasing an additional 7,486 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of CGI Group during the third quarter worth $532,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Group Company Profile

CGI Inc, formerly known as CGI Group, is a Canadian information technology and business consulting company headquartered in Montreal, Quebec. Founded in 1976, the company provides technology and business solutions to organizations in the private and public sectors.

CGI’s services include business and IT consulting, systems integration, application development and management, cloud computing, cybersecurity, data analytics, digital transformation, and managed IT services. The company also develops and supports proprietary software and industry-specific solutions for areas such as financial services, government, healthcare, manufacturing, telecommunications, utilities, and retail.

CGI serves clients through operations across North America, Europe, and the Asia-Pacific region.