Marshall Wace North America L.P. purchased a new stake in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,194 shares of the technology company’s stock, valued at approximately $214,000.
Several other large investors have also made changes to their positions in GIB. US Bancorp DE raised its position in CGI Group by 2.4% in the 1st quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares during the period. Quantbot Technologies LP purchased a new stake in CGI Group in the 1st quarter worth about $173,000. Quantitative Systematic Strategies LLC purchased a new stake in CGI Group in the 2nd quarter worth about $202,000. Checchi Capital Advisers LLC purchased a new stake in CGI Group in the 2nd quarter worth about $221,000. Finally, HighTower Advisors LLC purchased a new stake in CGI Group in the 1st quarter worth about $289,000. 70.70% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on GIB shares. BidaskClub lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Barclays PLC reaffirmed an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CGI Group in a research report on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. CGI Group has a consensus rating of “Buy” and a consensus target price of $61.00.
Shares of CGI Group, Inc. (NYSE GIB) opened at 51.48 on Friday. The firm has a 50-day moving average of $50.87 and a 200 day moving average of $49.47. CGI Group, Inc. has a 52 week low of $45.73 and a 52 week high of $53.65. The firm has a market capitalization of $15.20 billion, a P/E ratio of 17.89 and a beta of 0.92.
CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts expect that CGI Group, Inc. will post $3.01 EPS for the current fiscal year.
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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