CGI Group, Inc. (GIB) Shares Bought by Public Sector Pension investment Board
Public Sector Pension investment Board boosted its stake in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 22.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 522,880 shares of the technology company’s stock after purchasing an additional 94,300 shares during the quarter. Public Sector Pension investment Board owned about 0.20% of CGI Group worth $26,677,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Jarislowsky Fraser Ltd boosted its position in CGI Group by 23.3% during the second quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock worth $352,623,000 after purchasing an additional 1,304,144 shares during the period. Vanguard Group Inc. boosted its position in CGI Group by 2.6% during the first quarter. Vanguard Group Inc. now owns 5,298,962 shares of the technology company’s stock worth $253,979,000 after purchasing an additional 133,978 shares during the period. TD Asset Management Inc. boosted its position in CGI Group by 5.6% during the second quarter. TD Asset Management Inc. now owns 2,675,605 shares of the technology company’s stock worth $136,408,000 after purchasing an additional 141,003 shares during the period. Great West Life Assurance Co. Can boosted its position in CGI Group by 3.2% during the second quarter. Great West Life Assurance Co. Can now owns 2,523,831 shares of the technology company’s stock worth $128,583,000 after purchasing an additional 77,377 shares during the period. Finally, CIBC Asset Management Inc boosted its position in CGI Group by 37.0% during the second quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock worth $103,953,000 after purchasing an additional 550,382 shares during the period. 70.69% of the stock is owned by hedge funds and other institutional investors.
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A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays PLC reaffirmed an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd. Finally, BidaskClub raised shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $61.00.
CGI Group, Inc. (GIB) traded up 0.46% during midday trading on Wednesday, hitting $52.20. The stock had a trading volume of 30,941 shares. The stock has a market cap of $15.41 billion, a P/E ratio of 18.14 and a beta of 0.92. CGI Group, Inc. has a 52 week low of $45.73 and a 52 week high of $53.65. The company has a 50-day moving average price of $50.80 and a 200-day moving average price of $49.58.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share 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 the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. Equities analysts expect that CGI Group, Inc. will post $2.99 EPS for the current year.
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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