CGI Group, Inc. $GIB Stake Lessened by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd reduced its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 407,740 shares of the technology company’s stock after selling 9,729 shares during the quarter. CGI Group accounts for 3.5% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s portfolio, making the stock its 8th largest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings in CGI Group were worth $27,739,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Groupe la Francaise boosted its position in CGI Group by 0.9% during the 2nd quarter. Groupe la Francaise now owns 1,722,751 shares of the technology company’s stock worth $111,335,000 after purchasing an additional 14,845 shares during the period. QV Investors Inc. raised its position in CGI Group by 31.2% in the second quarter. QV Investors Inc. now owns 908,728 shares of the technology company’s stock valued at $58,716,000 after purchasing an additional 216,086 shares during the period. Wellington Management Group LLP raised its position in CGI Group by 60.4% in the second quarter. Wellington Management Group LLP now owns 213,433 shares of the technology company’s stock valued at $13,791,000 after purchasing an additional 80,368 shares during the period. Cardinal Point Capital Management ULC raised its position in CGI Group by 5.1% in the third quarter. Cardinal Point Capital Management ULC now owns 130,553 shares of the technology company’s stock valued at $8,903,000 after purchasing an additional 6,296 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in shares of CGI Group by 14.8% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 58,052 shares of the technology company’s stock worth $3,956,000 after purchasing an additional 7,500 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Group Trading Down 0.5%

GIB opened at $79.25 on Thursday. CGI Group, Inc. has a 12-month low of $59.63 and a 12-month high of $95.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.66. The stock has a market capitalization of $16.41 billion, a PE ratio of 13.59 and a beta of 0.47. The firm’s fifty day moving average price is $72.89 and its 200 day moving average price is $72.66.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. TD Securities lowered CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 21st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $100.00 price target on shares of CGI Group in a research report on Tuesday, October 6th. Seven research analysts have rated the stock with a Hold rating. According to MarketBeat.com, CGI Group currently has an average rating of “Hold” and an average target price of $83.67.

CGI Group Profile

CGI Inc, formerly known as CGI Group, is a Canadian information technology and business consulting company headquartered in Montreal, Quebec. Founded in 1976, the company provides technology and business solutions to organizations in the private and public sectors.

CGI’s services include business and IT consulting, systems integration, application development and management, cloud computing, cybersecurity, data analytics, digital transformation, and managed IT services. The company also develops and supports proprietary software and industry-specific solutions for areas such as financial services, government, healthcare, manufacturing, telecommunications, utilities, and retail.

CGI serves clients through operations across North America, Europe, and the Asia-Pacific region.