1832 Asset Management L.P. cut its stake in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 10.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,002,791 shares of the company’s stock after selling 695,067 shares during the period. CGI Group makes up about 1.1% of 1832 Asset Management L.P.’s portfolio, making the stock its 23rd largest position. 1832 Asset Management L.P. owned 1.99% of CGI Group worth $285,958,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Creative Planning raised its stake in CGI Group by 1.7% in the third quarter. Creative Planning now owns 22,575 shares of the company’s stock valued at $1,075,000 after buying an additional 379 shares during the last quarter. Quantbot Technologies LP raised its stake in CGI Group by 57.2% in the third quarter. Quantbot Technologies LP now owns 2,221 shares of the company’s stock valued at $105,000 after buying an additional 808 shares during the last quarter. BerganKDV Wealth Management LLC raised its stake in CGI Group by 8.5% in the third quarter. BerganKDV Wealth Management LLC now owns 13,256 shares of the company’s stock valued at $631,000 after buying an additional 1,033 shares during the last quarter. World Asset Management Inc raised its stake in CGI Group by 8.1% in the third quarter. World Asset Management Inc now owns 18,266 shares of the company’s stock valued at $870,000 after buying an additional 1,371 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in CGI Group by 302.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,429 shares of the company’s stock valued at $103,000 after buying an additional 1,825 shares during the last quarter. 72.50% of the stock is currently owned by institutional investors and hedge funds.
CGI Group, Inc. (NYSE:GIB) opened at 48.60 on Friday. The firm’s 50-day moving average is $48.47 and its 200-day moving average is $48.06. The firm has a market capitalization of $14.60 billion, a P/E ratio of 17.86 and a beta of 0.87. CGI Group, Inc. has a 52-week low of $39.92 and a 52-week high of $50.58.
CGI Group (NYSE:GIB) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.21. CGI Group had a return on equity of 17.56% and a net margin of 10.37%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the business earned $0.84 earnings per share. CGI Group’s revenue was down .3% on a year-over-year basis. On average, equities analysts expect that CGI Group, Inc. will post $2.83 earnings per share for the current year.
Several equities research analysts have recently weighed in on the stock. National Bank Financial reaffirmed an “outperform overweight” rating on shares of CGI Group in a report on Sunday, January 29th. Zacks Investment Research upgraded shares of CGI Group from a “sell” rating to a “hold” rating in a research report on Tuesday, December 20th. Societe Generale downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Dundee Securities upped their price target on shares of CGI Group from $68.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, November 10th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of CGI Group in a research report on Wednesday, November 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $52.33.
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.
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