Two Sigma Securities LLC acquired a new position in CGI Group Inc (NYSE:GIB) (TSE:GIB.A) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,976 shares of the technology company’s stock, valued at approximately $216,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. RDL Financial Inc. increased its holdings in CGI Group by 5.7% in the fourth quarter. RDL Financial Inc. now owns 18,198 shares of the technology company’s stock worth $989,000 after buying an additional 975 shares during the last quarter. Greenleaf Trust increased its holdings in CGI Group by 97.5% in the fourth quarter. Greenleaf Trust now owns 2,015 shares of the technology company’s stock worth $109,000 after buying an additional 995 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in CGI Group by 0.9% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 130,860 shares of the technology company’s stock worth $7,125,000 after buying an additional 1,115 shares during the last quarter. ETRADE Capital Management LLC increased its holdings in CGI Group by 14.6% in the third quarter. ETRADE Capital Management LLC now owns 13,968 shares of the technology company’s stock worth $725,000 after buying an additional 1,784 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its holdings in CGI Group by 22.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 12,151 shares of the technology company’s stock worth $660,000 after buying an additional 2,190 shares during the last quarter. Hedge funds and other institutional investors own 59.69% of the company’s stock.
Shares of CGI Group stock opened at $58.26 on Monday. The stock has a market capitalization of $16,776.90, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 1.94 and a beta of 0.73. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. CGI Group Inc has a 12-month low of $46.27 and a 12-month high of $59.89.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.78 billion. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. equities analysts forecast that CGI Group Inc will post 3.34 EPS for the current fiscal year.
CGI Group announced that its board has authorized a stock repurchase plan on Wednesday, January 31st that allows the company to repurchase 20,590,000 shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
A number of equities analysts recently commented on the company. Barclays increased their price objective on CGI Group from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Zacks Investment Research raised CGI Group from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, February 5th. Finally, ValuEngine raised CGI Group from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $71.00.
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CGI Group 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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