Vanguard Group Inc. raised its position in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,605,314 shares of the technology company’s stock after buying an additional 306,352 shares during the quarter. Vanguard Group Inc. owned about 2.14% of CGI Group worth $289,794,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley raised its stake in shares of CGI Group by 38.4% in the first quarter. Morgan Stanley now owns 596,523 shares of the technology company’s stock valued at $28,592,000 after buying an additional 165,506 shares during the period. AXA raised its stake in shares of CGI Group by 26.8% in the second quarter. AXA now owns 160,472 shares of the technology company’s stock valued at $8,195,000 after buying an additional 33,943 shares during the period. CIBC Asset Management Inc raised its stake in shares of CGI Group by 37.0% in the second quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock valued at $103,953,000 after buying an additional 550,382 shares during the period. AGF Investments Inc. raised its stake in shares of CGI Group by 4.0% in the second quarter. AGF Investments Inc. now owns 953,691 shares of the technology company’s stock valued at $48,755,000 after buying an additional 36,312 shares during the period. Finally, Sentry Investments Corp. raised its stake in shares of CGI Group by 31.5% in the second quarter. Sentry Investments Corp. now owns 1,619,900 shares of the technology company’s stock valued at $107,335,000 after buying an additional 388,500 shares during the period. Hedge funds and other institutional investors own 62.83% of the company’s stock.
Several analysts have issued reports on GIB shares. BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Zacks Investment Research upgraded CGI Group from a “sell” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Tuesday, July 4th. Finally, Barclays PLC restated an “overweight” rating and issued a $60.00 target price (up from $55.00) on shares of CGI Group in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $64.00.
Shares of CGI Group, Inc. (GIB) opened at 52.60 on Wednesday. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 17.76 and a beta of 0.92. CGI Group, Inc. has a 1-year low of $45.73 and a 1-year high of $53.65. The company’s 50 day moving average price is $51.35 and its 200-day moving average price is $50.10.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the business posted $0.89 earnings per share. CGI Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that CGI Group, Inc. will post $2.92 earnings per share for the current year.
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CGI Group 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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