CGI Group, Inc. $GIB Stock Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. reduced its position in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 11.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,845,117 shares of the technology company’s stock after selling 381,732 shares during the period. Beutel Goodman & Co Ltd.’s holdings in CGI Group were worth $193,882,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fulcrum Asset Management LLP acquired a new stake in CGI Group during the 3rd quarter valued at $212,000. Ethic Inc. lifted its stake in shares of CGI Group by 30.2% during the 3rd quarter. Ethic Inc. now owns 32,271 shares of the technology company’s stock worth $2,195,000 after buying an additional 7,486 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of CGI Group during the 3rd quarter worth about $532,000. Ascent Group LLC bought a new stake in shares of CGI Group during the 3rd quarter worth about $486,000. Finally, Vise Technologies Inc. grew its stake in CGI Group by 36.5% in the 3rd quarter. Vise Technologies Inc. now owns 11,315 shares of the technology company’s stock valued at $770,000 after buying an additional 3,028 shares during the last quarter. Institutional investors own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GIB. TD Securities downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report 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 reaffirmed a “sector perform” rating and issued a $100.00 target price on shares of CGI Group in a research report on Tuesday, October 6th. Six equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $85.00.

CGI Group Stock Down 0.8%

GIB opened at $82.63 on Tuesday. The stock has a fifty day moving average of $74.07 and a 200-day moving average of $72.25. The company has a market capitalization of $17.11 billion, a P/E ratio of 12.91 and a beta of 0.42. CGI Group, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $95.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.66 and a current ratio of 0.93.

About CGI Group

CGI Inc, formerly known as CGI Group, is a Canadian information technology and business consulting company founded in 1976 in Montréal. It works with businesses and government organizations to plan, build and operate technology and business systems.

The company provides IT and business consulting, systems integration, application development and maintenance, managed IT services, and business process services. Its work also covers areas such as cloud computing, cybersecurity, data analytics and digital transformation.

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