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CGI Group Inc. (GIB) Formed Multiple Top; Buyers Could Thrive

CGI Group Inc. (NYSE:GIB) Logo

The stock of CGI Group Inc. (GIB) shows a multiple tops pattern with $66.86 target or 8.00 % above today’s $61.91 share price. The 8 months chart pattern indicates low risk for the $17.22B company. It was reported on Nov, 10 by Finviz.com. If the $66.86 price target is reached, the company will be worth $1.38B more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.86% or $0.54 during the last trading session, reaching $61.91. About 174,254 shares traded. CGI Group Inc. (NYSE:GIB) has risen 25.68% since November 10, 2017 and is uptrending. It has outperformed by 10.06% the S&P500.

CGI Group Inc. (NYSE:GIB) Ratings Coverage

Among 2 analysts covering CGI Group (NYSE:GIB), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. CGI Group had 2 analyst reports since August 2, 2018 according to SRatingsIntel. The stock of CGI Group Inc. (NYSE:GIB) earned “Outperform” rating by RBC Capital Markets on Thursday, November 8. As per Thursday, August 2, the company rating was maintained by Barclays Capital.

More recent CGI Group Inc. (NYSE:GIB) news were published by: Prnewswire.com which released: “CGI partners with Hydro-Québec to launch MILES, a solution to address the root causes of electricity outages before …” on October 18, 2018. Also Streetinsider.com published the news titled: “CGI Group (GIB) Announces Alison Reed to Board” on November 07, 2018. Seekingalpha.com‘s news article titled: “CGI Group (GIB) Q4 2018 Results – Earnings Call Transcript” with publication date: November 07, 2018 was also an interesting one.

CGI Group Inc. provides information technology and business process services in Canada and internationally. The company has market cap of $17.22 billion. It offers agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; business-to-business and customer activities support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services. It has a 22.81 P/E ratio. The firm also provides IT outsourcing services; and data analytics, enterprise application integration, enterprise architecture and content management, enterprise resource planning , and geospatial solutions.

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