ETRADE Capital Management LLC Grows Holdings in CGI Group (GIB)

ETRADE Capital Management LLC boosted its position in shares of CGI Group (NYSE:GIB) (TSE:GIB.A) by 20.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,759 shares of the technology company’s stock after purchasing an additional 2,857 shares during the period. ETRADE Capital Management LLC’s holdings in CGI Group were worth $966,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. RDL Financial Inc. increased its holdings in CGI Group by 5.7% during the 4th quarter. RDL Financial Inc. now owns 18,198 shares of the technology company’s stock worth $989,000 after purchasing an additional 975 shares in the last quarter. Greenleaf Trust increased its holdings in CGI Group by 97.5% during the 4th quarter. Greenleaf Trust now owns 2,015 shares of the technology company’s stock worth $109,000 after purchasing an additional 995 shares in the last quarter. LPL Financial LLC increased its holdings in CGI Group by 15.1% during the 4th quarter. LPL Financial LLC now owns 8,340 shares of the technology company’s stock worth $453,000 after purchasing an additional 1,091 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in CGI Group by 22.0% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 12,151 shares of the technology company’s stock worth $660,000 after purchasing an additional 2,190 shares in the last quarter. Finally, Regentatlantic Capital LLC increased its holdings in CGI Group by 5.5% during the 4th quarter. Regentatlantic Capital LLC now owns 64,946 shares of the technology company’s stock worth $3,529,000 after purchasing an additional 3,405 shares in the last quarter. Hedge funds and other institutional investors own 59.61% of the company’s stock.

CGI Group stock opened at $59.98 on Friday. CGI Group has a one year low of $48.16 and a one year high of $60.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market cap of $17.23 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 2.04 and a beta of 0.70.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). CGI Group had a return on equity of 17.67% and a net margin of 9.31%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. sell-side analysts expect that CGI Group will post 3.26 earnings per share for the current fiscal year.

CGI Group declared that its board has approved a share buyback program on Wednesday, January 31st that allows the company to buyback 20,590,000 shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

A number of equities analysts have issued reports on GIB shares. Barclays increased their target price on CGI Group from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. ValuEngine upgraded CGI Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, Zacks Investment Research upgraded CGI Group from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $71.25.

CGI Group Company Profile

CGI Group Inc provides information technology and business process services in Canada and internationally. It offers application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; business-to-business and customer operations support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services.

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Institutional Ownership by Quarter for CGI Group (NYSE:GIB)

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