CGI Group, Inc. (GIB) Stake Lifted by AGF Investments Inc.
AGF Investments Inc. grew its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 953,691 shares of the technology company’s stock after purchasing an additional 36,312 shares during the period. AGF Investments Inc. owned approximately 0.36% of CGI Group worth $48,755,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE grew its position in shares of CGI Group by 2.4% during the 1st quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock valued at $106,000 after purchasing an additional 52 shares in the last quarter. Quantbot Technologies LP purchased a new position in CGI Group in the first quarter worth $173,000. Quantitative Systematic Strategies LLC purchased a new position in CGI Group in the second quarter worth $202,000. Campbell & CO Investment Adviser LLC purchased a new position in CGI Group in the first quarter worth $205,000. Finally, Marshall Wace North America L.P. purchased a new position in CGI Group in the second quarter worth $214,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.
Shares of CGI Group, Inc. (GIB) traded up 0.84% on Thursday, reaching $51.91. 20,146 shares of the company traded hands. The firm has a market capitalization of $15.33 billion, a P/E ratio of 18.28 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 stock has a 50-day moving average price of $51.05 and a 200 day moving average price of $49.28.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. CGI Group’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. Analysts anticipate that CGI Group, Inc. will post $2.94 EPS for the current fiscal year.
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GIB has been the subject of several research reports. Zacks Investment Research upgraded shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 target price for the company in a research report on Friday, July 21st. BidaskClub upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $60.00 target price (up from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $61.00.
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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