Ativo Capital Management LLC Reduces Stake in CGI Group, Inc. (GIB)
Ativo Capital Management LLC lessened its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 21.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,683 shares of the technology company’s stock after selling 13,768 shares during the period. CGI Group accounts for approximately 0.7% of Ativo Capital Management LLC’s holdings, making the stock its 12th biggest position. Ativo Capital Management LLC’s holdings in CGI Group were worth $2,639,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. US Bancorp DE boosted its holdings 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 buying an additional 52 shares in the last quarter. World Asset Management Inc boosted its holdings in shares of CGI Group by 0.8% during the 1st quarter. World Asset Management Inc now owns 16,825 shares of the technology company’s stock valued at $806,000 after buying an additional 134 shares in the last quarter. BerganKDV Wealth Management LLC boosted its holdings in shares of CGI Group by 1.5% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 15,973 shares of the technology company’s stock valued at $816,000 after buying an additional 238 shares in the last quarter. Lincoln National Corp boosted its holdings in shares of CGI Group by 3.4% during the 2nd quarter. Lincoln National Corp now owns 7,973 shares of the technology company’s stock valued at $407,000 after buying an additional 263 shares in the last quarter. Finally, Regentatlantic Capital LLC boosted its holdings in shares of CGI Group by 1.0% during the 2nd quarter. Regentatlantic Capital LLC now owns 60,581 shares of the technology company’s stock valued at $3,094,000 after buying an additional 575 shares in the last quarter. Hedge funds and other institutional investors own 70.69% of the company’s stock.
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A number of analysts have recently commented on GIB shares. Zacks Investment Research upgraded shares of CGI Group from a “sell” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Tuesday, July 4th. BidaskClub upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Barclays PLC restated an “overweight” rating and set a $60.00 target price (up previously from $55.00) on shares of CGI Group in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $61.00.
Shares of CGI Group, Inc. (NYSE GIB) traded up 0.736% during mid-day trading on Tuesday, hitting $51.627. 104,895 shares of the stock were exchanged. The stock’s 50 day moving average is $50.82 and its 200 day moving average is $49.55. The firm has a market cap of $15.24 billion, a P/E ratio of 17.945 and a beta of 0.92. CGI Group, Inc. has a 12 month low of $45.73 and a 12 month high of $53.65.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.78 billion. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 EPS. Analysts expect that CGI Group, Inc. will post $3.01 EPS for the current fiscal year.
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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