Cumberland Partners Ltd Raises Stake in CGI Group, Inc. (GIB)

Cumberland Partners Ltd boosted its position in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 32.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 488,725 shares of the technology company’s stock after buying an additional 121,005 shares during the period. CGI Group makes up 3.4% of Cumberland Partners Ltd’s holdings, making the stock its 10th biggest holding. Cumberland Partners Ltd owned about 0.17% of CGI Group worth $25,274,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in CGI Group by 6.9% in the second quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock valued at $1,110,566,000 after buying an additional 1,400,049 shares during the period. Jarislowsky Fraser Ltd lifted its holdings in CGI Group by 23.3% in the second quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock valued at $352,623,000 after buying an additional 1,304,144 shares during the period. Vanguard Group Inc. lifted its holdings in CGI Group by 5.8% in the second quarter. Vanguard Group Inc. now owns 5,605,314 shares of the technology company’s stock valued at $289,794,000 after buying an additional 306,352 shares during the period. TD Asset Management Inc. lifted its holdings in CGI Group by 5.6% in the second quarter. TD Asset Management Inc. now owns 2,675,605 shares of the technology company’s stock valued at $136,408,000 after buying an additional 141,003 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in CGI Group by 3.2% in the second quarter. Great West Life Assurance Co. Can now owns 2,523,831 shares of the technology company’s stock valued at $128,583,000 after buying an additional 77,377 shares during the period. Institutional investors and hedge funds own 62.64% of the company’s stock.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The firm 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 business earned $0.89 EPS. CGI Group’s revenue was up 6.4% on a year-over-year basis.

Several research firms recently issued reports on GIB. 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 report on Thursday, August 3rd. Zacks Investment Research upgraded shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 target price on the stock in a report on Friday, July 21st. Finally, BidaskClub lowered shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $64.00.

TRADEMARK VIOLATION NOTICE: “Cumberland Partners Ltd Raises Stake in CGI Group, Inc. (GIB)” was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another site, it was stolen and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://www.com-unik.info/2017/11/03/cumberland-partners-ltd-raises-stake-in-cgi-group-inc-gib.html.

CGI Group Company 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.

Want to see what other hedge funds are holding GIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A).

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

What are top analysts saying about CGI Group Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for CGI Group Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit