Wells Fargo & Company MN Sells 2,013 Shares of CGI Group Inc (GIB)

Wells Fargo & Company MN lowered its holdings in CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 3.4% during the 3rd quarter, Holdings Channel reports. The firm owned 56,889 shares of the technology company’s stock after selling 2,013 shares during the quarter. Wells Fargo & Company MN’s holdings in CGI Group were worth $2,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Citadel Advisors LLC grew its stake in shares of CGI Group by 1,022.0% in the 3rd quarter. Citadel Advisors LLC now owns 46,000 shares of the technology company’s stock worth $2,386,000 after purchasing an additional 41,900 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of CGI Group by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,682 shares of the technology company’s stock worth $5,149,000 after purchasing an additional 3,175 shares during the last quarter. Legal & General Group Plc grew its stake in shares of CGI Group by 8.7% in the 3rd quarter. Legal & General Group Plc now owns 1,156,510 shares of the technology company’s stock worth $59,827,000 after purchasing an additional 92,927 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of CGI Group by 13.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 2,857,687 shares of the technology company’s stock worth $147,850,000 after purchasing an additional 333,856 shares during the last quarter. Finally, ETRADE Capital Management LLC grew its stake in shares of CGI Group by 14.6% in the 3rd quarter. ETRADE Capital Management LLC now owns 13,968 shares of the technology company’s stock worth $725,000 after purchasing an additional 1,784 shares during the last quarter. 66.53% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on GIB shares. Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Wednesday, October 4th. Scotiabank lifted their price objective on shares of CGI Group from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price objective (up previously from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. CGI Group currently has a consensus rating of “Buy” and a consensus price target of $68.75.

CGI Group Inc (NYSE:GIB) opened at $53.10 on Friday. CGI Group Inc has a fifty-two week low of $45.81 and a fifty-two week high of $54.99. The company has a market cap of $13,510.00, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.93 and a beta of 0.87. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.29.

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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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Institutional Ownership by Quarter for CGI Group (NYSE:GIB)

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