CGI Group Inc (GIB) Stake Decreased by Addenda Capital Inc.

Addenda Capital Inc. reduced its holdings in CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 400,148 shares of the technology company’s stock after selling 19,560 shares during the quarter. CGI Group comprises 1.5% of Addenda Capital Inc.’s investment portfolio, making the stock its 15th largest position. Addenda Capital Inc.’s holdings in CGI Group were worth $21,811,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GIB. FMR LLC grew its position in shares of CGI Group by 6.9% in 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 boosted its position in shares of CGI Group by 19.8% during the third quarter. Jarislowsky Fraser Ltd now owns 8,278,011 shares of the technology company’s stock valued at $428,249,000 after purchasing an additional 1,366,578 shares in the last quarter. Ninepoint Partners LP bought a new stake in shares of CGI Group during the third quarter valued at approximately $29,330,000. TD Asset Management Inc. boosted its position in shares of CGI Group by 19.5% during the third quarter. TD Asset Management Inc. now owns 3,196,280 shares of the technology company’s stock valued at $165,217,000 after purchasing an additional 520,675 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of CGI Group by 1,725.1% during the third quarter. Mackenzie Financial Corp now owns 463,074 shares of the technology company’s stock valued at $24,020,000 after purchasing an additional 437,702 shares in the last quarter. Hedge funds and other institutional investors own 66.53% of the company’s stock.

CGI Group Inc (GIB) traded up $0.07 during midday trading on Friday, hitting $53.10. The company had a trading volume of 191,000 shares, compared to its average volume of 167,050. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.29. CGI Group Inc has a one year low of $45.81 and a one year high of $54.99. The company has a market capitalization of $13,520.00, a price-to-earnings ratio of 19.45, a PEG ratio of 1.93 and a beta of 0.87.

GIB has been the topic of several research reports. Zacks Investment Research lowered CGI Group from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price target (up from $75.00) on shares of CGI Group in a research report on Thursday, November 9th. Finally, Scotiabank lifted their price target on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CGI Group currently has an average rating of “Buy” and an average price target 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.

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

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