Eqis Capital Management Inc. boosted its stake in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,259 shares of the technology company’s stock after buying an additional 2,687 shares during the period. Eqis Capital Management Inc.’s holdings in CGI Group were worth $779,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its stake in CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock valued at $106,000 after buying an additional 52 shares during the period. Quantbot Technologies LP purchased a new stake in CGI Group during the first quarter valued at $173,000. Campbell & CO Investment Adviser LLC purchased a new stake in CGI Group during the first quarter valued at $205,000. HighTower Advisors LLC purchased a new stake in CGI Group during the first quarter valued at $289,000. Finally, Paloma Partners Management Co purchased a new stake in CGI Group during the first quarter valued at $320,000. 62.90% of the stock is currently owned by institutional investors.
Shares of CGI Group, Inc. (GIB) opened at 52.22 on Tuesday. The stock has a 50 day moving average price of $49.84 and a 200 day moving average price of $48.34. CGI Group, Inc. has a 12 month low of $43.64 and a 12 month high of $53.08. The stock has a market capitalization of $15.47 billion, a P/E ratio of 19.07 and a beta of 0.92.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, May 3rd. The technology company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.01. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.74 billion. CGI Group had a return on equity of 17.38% and a net margin of 10.31%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. On average, analysts anticipate that CGI Group, Inc. will post $2.92 EPS for the current fiscal year.
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GIB has been the topic of several research reports. Zacks Investment Research raised CGI Group from a “sell” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Tuesday, July 4th. BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Beacon Securities restated a “buy” rating on shares of CGI Group in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.00.
About CGI Group
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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