Wells Fargo & Company MN raised its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 28.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,902 shares of the technology company’s stock after acquiring an additional 12,987 shares during the period. Wells Fargo & Company MN’s holdings in CGI Group were worth $3,008,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GIB. Jarislowsky Fraser Ltd grew its holdings in shares of 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 last quarter. CIBC Asset Management Inc grew its holdings in shares of 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 last quarter. Sentry Investments Corp. grew its holdings in shares of CGI Group by 31.5% during the second quarter. Sentry Investments Corp. now owns 1,619,900 shares of the technology company’s stock worth $107,335,000 after purchasing an additional 388,500 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of CGI Group by 470.6% during the first quarter. Renaissance Technologies LLC now owns 248,800 shares of the technology company’s stock worth $11,929,000 after purchasing an additional 205,200 shares during the last quarter. Finally, Cumberland Partners Ltd grew its holdings in shares of CGI Group by 97.3% during the second quarter. Cumberland Partners Ltd now owns 367,720 shares of the technology company’s stock worth $18,767,000 after purchasing an additional 181,355 shares during the last quarter. Hedge funds and other institutional investors own 62.81% of the company’s stock.

Shares of CGI Group, Inc. (NYSE:GIB) opened at 53.00 on Friday. The company has a market capitalization of $15.65 billion, a PE ratio of 17.89 and a beta of 0.92. CGI Group, Inc. has a 12-month low of $45.81 and a 12-month high of $53.78. The stock’s 50 day moving average price is $52.07 and its 200 day moving average price is $50.38.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data 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 the consensus estimate of $2.78 billion. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. CGI Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 earnings per share. On average, equities research analysts forecast that CGI Group, Inc. will post $2.95 earnings per share for the current year.

GIB has been the topic of several research reports. Zacks Investment Research upgraded CGI Group from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Wednesday, October 4th. Barclays PLC restated an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CGI Group in a report on Wednesday, August 9th. Finally, BidaskClub cut CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $64.00.

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

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