State of Wisconsin Investment Board decreased its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 28.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,014 shares of the technology company’s stock after selling 60,200 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.05% of CGI Group worth $8,019,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of GIB. Paloma Partners Management Co purchased a new stake in CGI Group in the 1st quarter valued at about $320,000. HighTower Advisors LLC purchased a new stake in CGI Group in the 1st quarter valued at about $289,000. Mn Services Vermogensbeheer B.V. purchased a new stake in CGI Group in the 2nd quarter valued at about $1,775,000. APG Asset Management N.V. grew its holdings in CGI Group by 5.4% in the 2nd quarter. APG Asset Management N.V. now owns 887,909 shares of the technology company’s stock valued at $58,833,000 after buying an additional 45,567 shares during the period. Finally, Barometer Capital Management Inc. purchased a new stake in CGI Group in the 2nd quarter valued at about $2,096,000. Institutional investors own 60.16% of the company’s stock.
Several analysts have commented on the company. Zacks Investment Research cut CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $85.00 price target (up previously from $75.00) on shares of CGI Group in a report on Thursday, November 9th. Barclays PLC restated an “overweight” rating and issued a $60.00 price target (up previously from $55.00) on shares of CGI Group in a report on Thursday, August 3rd. BidaskClub cut CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Scotiabank lifted their price target on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. CGI Group currently has a consensus rating of “Hold” and an average price target of $68.75.
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Shares of CGI Group, Inc. (NYSE:GIB) opened at $53.46 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.29. CGI Group, Inc. has a fifty-two week low of $45.81 and a fifty-two week high of $54.07. The stock has a market capitalization of $13,600.00, a PE ratio of 19.11, a PEG ratio of 1.87 and a beta of 0.91.
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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