Gotham Asset Management LLC lowered its stake in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 68.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,444 shares of the technology company’s stock after selling 30,763 shares during the period. Gotham Asset Management LLC’s holdings in CGI Group were worth $738,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisor Group Inc. raised its holdings in shares of CGI Group by 21.2% during the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after purchasing an additional 380 shares during the period. US Bancorp DE raised its holdings in shares of CGI Group by 2.4% during the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock valued at $106,000 after purchasing an additional 52 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of CGI Group during the second quarter valued at about $202,000. Letko Brosseau & Associates Inc. acquired a new position in shares of CGI Group during the second quarter valued at about $203,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of CGI Group during the second quarter valued at about $214,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.
Several brokerages have recently weighed in on GIB. Zacks Investment Research upgraded shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective on the stock in a report on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and set a $60.00 price objective (up previously from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. Finally, BidaskClub lowered shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $64.00.
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CGI Group, Inc. (NYSE GIB) traded up 0.62% during midday trading on Friday, hitting $53.61. 114,026 shares of the stock traded hands. The stock has a market capitalization of $15.83 billion, a P/E ratio of 18.10 and a beta of 0.92. The stock’s 50-day moving average price is $52.22 and its 200-day moving average price is $50.53. CGI Group, Inc. has a 52 week low of $45.81 and a 52 week high of $53.78.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the business earned $0.89 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Equities research analysts expect that CGI Group, Inc. will post $2.94 EPS for the current fiscal year.
CGI Group Company 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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