Fiera Capital Corp lessened its stake in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 13.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,594,345 shares of the technology company’s stock after selling 707,643 shares during the quarter. CGI Group makes up approximately 1.1% of Fiera Capital Corp’s holdings, making the stock its 27th largest holding. Fiera Capital Corp owned 1.75% of CGI Group worth $234,332,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of GIB. Jarislowsky Fraser Ltd increased its position in CGI Group by 23.3% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock worth $352,623,000 after purchasing an additional 1,304,144 shares in the last quarter. CIBC Asset Management Inc increased its position in CGI Group by 37.0% during the 2nd quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock worth $103,953,000 after purchasing an additional 550,382 shares in the last quarter. Sentry Investments Corp. increased its position in CGI Group by 31.5% during the 2nd quarter. Sentry Investments Corp. now owns 1,619,900 shares of the technology company’s stock worth $107,335,000 after purchasing an additional 388,500 shares in the last quarter. Renaissance Technologies LLC increased its position in CGI Group by 470.6% during the 1st quarter. Renaissance Technologies LLC now owns 248,800 shares of the technology company’s stock worth $11,929,000 after purchasing an additional 205,200 shares in the last quarter. Finally, Cumberland Partners Ltd increased its position in CGI Group by 97.3% during the 2nd quarter. Cumberland Partners Ltd now owns 367,720 shares of the technology company’s stock worth $18,767,000 after purchasing an additional 181,355 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.
GIB has been the subject of a number of recent research reports. BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded CGI Group from a “sell” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Tuesday, July 4th. Finally, Barclays PLC reiterated an “overweight” rating and set a $60.00 price objective (up previously from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $61.00.
CGI Group, Inc. (NYSE:GIB) traded up 0.0768% during mid-day trading on Tuesday, reaching $52.2601. The company had a trading volume of 45,363 shares. The stock’s 50-day moving average is $50.99 and its 200 day moving average is $49.34. CGI Group, Inc. has a 12 month low of $45.73 and a 12 month high of $53.65. The firm has a market capitalization of $15.43 billion, a P/E ratio of 18.4079 and a beta of 0.92.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.01). The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.78 billion. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, analysts predict that CGI Group, Inc. will post $3.03 earnings per share for the current fiscal year.
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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