Caisse DE Depot ET Placement DU Quebec trimmed its holdings in shares of CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 9.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 46,207,295 shares of the technology company’s stock after selling 4,854,368 shares during the period. CGI Group makes up about 5.5% of Caisse DE Depot ET Placement DU Quebec’s investment portfolio, making the stock its biggest position. Caisse DE Depot ET Placement DU Quebec owned 15.65% of CGI Group worth $2,400,504,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Advisor Group Inc. lifted its holdings in CGI Group by 21.2% during the 2nd 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 last quarter. Letko Brosseau & Associates Inc. bought a new position in CGI Group during the 2nd quarter valued at about $203,000. Marshall Wace North America L.P. bought a new position in CGI Group during the 2nd quarter valued at about $214,000. Intercontinental Wealth Advisors LLC bought a new position in CGI Group during the 2nd quarter valued at about $217,000. Finally, Checchi Capital Advisers LLC bought a new position in CGI Group during the 2nd quarter valued at about $221,000. 57.46% of the stock is owned by institutional investors.
Several brokerages recently issued reports on GIB. Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday, October 4th. Scotiabank lifted their price target on shares of CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. BidaskClub downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Barclays reissued 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, Royal Bank Of Canada reissued an “outperform” rating and set a $85.00 price target (up from $75.00) on shares of CGI Group in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $68.75.
Shares of CGI Group Inc (GIB) traded down $0.31 during mid-day trading on Tuesday, reaching $52.76. 168,100 shares of the company traded hands, compared to its average volume of 175,689. CGI Group Inc has a 12-month low of $45.81 and a 12-month high of $54.42. The company has a market cap of $15,671.31, a P/E ratio of 19.02, a P/E/G ratio of 1.87 and a beta of 0.87. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.29.
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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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