Cidel Asset Management Inc. increased its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 952,892 shares of the technology company’s stock after buying an additional 21,600 shares during the period. CGI Group makes up 2.3% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 15th largest position. Cidel Asset Management Inc. owned 0.32% of CGI Group worth $48,632,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of GIB. US Bancorp DE raised its stake in shares of CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the period. Quantbot Technologies LP bought a new stake in shares of CGI Group during the first quarter worth about $173,000. Quantitative Systematic Strategies LLC bought a new stake in shares of CGI Group during the second quarter worth about $202,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of CGI Group during the first quarter worth about $205,000. Finally, Checchi Capital Advisers LLC bought a new stake in shares of CGI Group during the second quarter worth about $221,000. Institutional investors and hedge funds own 71.50% of the company’s stock.
Shares of CGI Group, Inc. (NYSE GIB) opened at 50.05 on Friday. The company has a market cap of $14.78 billion, a P/E ratio of 17.65 and a beta of 0.93. The company’s 50 day moving average is $51.51 and its 200-day moving average is $49.10. CGI Group, Inc. has a 12 month low of $45.73 and a 12 month high of $53.65.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by $0.01. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the company earned $0.89 earnings per share. CGI Group’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts expect that CGI Group, Inc. will post $2.88 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on GIB. BidaskClub lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Barclays PLC restated an “overweight” rating and issued a $60.00 target price (up previously from $55.00) on shares of CGI Group in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Beacon Securities restated a “buy” rating on shares of CGI Group in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $61.00.
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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