CGI Group, Inc. (GIB) Stake Lowered by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. lessened its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,438 shares of the technology company’s stock after selling 155 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CGI Group were worth $737,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Delta Lloyd Asset Management N.V. acquired a new stake in shares of CGI Group in the second quarter worth $907,000. Sentry Investments Corp. boosted its position 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 worth $107,335,000 after buying an additional 388,500 shares during the period. Aviva PLC boosted its position in shares of CGI Group by 2.2% in the second quarter. Aviva PLC now owns 162,528 shares of the technology company’s stock worth $8,282,000 after buying an additional 3,490 shares during the period. Lincoln National Corp boosted its position in shares of CGI Group by 3.4% in the second quarter. Lincoln National Corp now owns 7,973 shares of the technology company’s stock worth $407,000 after buying an additional 263 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of CGI Group by 1.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 638,391 shares of the technology company’s stock worth $32,561,000 after buying an additional 6,897 shares during the period. 70.70% of the stock is owned by institutional investors and hedge funds.
CGI Group, Inc. (GIB) opened at 51.94 on Wednesday. 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 $51.02 and a 200-day moving average price of $49.36. The company has a market capitalization of $15.34 billion, a price-to-earnings ratio of 18.30 and a beta of 0.92.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ 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 net margin of 10.18% and a return on equity of 17.10%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Equities analysts predict that CGI Group, Inc. will post $3.03 earnings per share for the current year.
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GIB has been the subject of several recent research reports. Barclays PLC reiterated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CGI Group in a report on Wednesday, August 9th. Zacks Investment Research lowered CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, BidaskClub lowered CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. One 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 company has a consensus rating of “Buy” and an average target price 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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