Citadel Advisors LLC Buys 41,900 Shares of CGI Group Inc (GIB)

Citadel Advisors LLC lifted its stake in CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 1,022.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,000 shares of the technology company’s stock after purchasing an additional 41,900 shares during the period. Citadel Advisors LLC’s holdings in CGI Group were worth $2,386,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GIB. FMR LLC lifted its holdings in CGI Group by 6.9% during the 2nd quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock worth $1,110,566,000 after buying an additional 1,400,049 shares during the last quarter. Jarislowsky Fraser Ltd lifted its holdings in CGI Group by 19.8% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 8,278,011 shares of the technology company’s stock worth $428,249,000 after buying an additional 1,366,578 shares during the last quarter. Ninepoint Partners LP purchased a new stake in CGI Group during the 3rd quarter worth about $29,330,000. TD Asset Management Inc. lifted its holdings in CGI Group by 19.5% during the 3rd quarter. TD Asset Management Inc. now owns 3,196,280 shares of the technology company’s stock worth $165,217,000 after buying an additional 520,675 shares during the last quarter. Finally, Sentry Investments Corp. lifted its holdings 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 buying an additional 388,500 shares during the last quarter. Hedge funds and other institutional investors own 57.46% of the company’s stock.

Shares of CGI Group Inc (GIB) opened at $53.07 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.29. CGI Group Inc has a 52-week low of $45.81 and a 52-week high of $54.42. The company has a market capitalization of $15,671.31, a PE ratio of 19.02, a PEG ratio of 1.87 and a beta of 0.87.

GIB has been the subject of a number of recent analyst reports. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday, October 4th. BidaskClub downgraded CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Scotiabank lifted their price target on CGI Group from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $85.00 price target (up from $75.00) on shares of CGI Group in a report on Thursday, November 9th. Finally, Barclays reaffirmed an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CGI Group in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $68.75.

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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.

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

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