Dimensional Fund Advisors LP decreased its stake in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,989 shares of the technology company’s stock after selling 2,157 shares during the period. Dimensional Fund Advisors LP owned 0.06% of CGI Group worth $7,956,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in GIB. Vanguard Group Inc. increased its stake in shares of CGI Group by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,298,962 shares of the technology company’s stock valued at $253,979,000 after buying an additional 133,978 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of CGI Group by 0.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,238,538 shares of the technology company’s stock valued at $59,363,000 after buying an additional 9,599 shares during the period. EULAV Asset Management increased its stake in shares of CGI Group by 2.1% in the first quarter. EULAV Asset Management now owns 29,500 shares of the technology company’s stock valued at $1,414,000 after buying an additional 600 shares during the period. Legal & General Group Plc increased its stake in shares of CGI Group by 2.0% in the first quarter. Legal & General Group Plc now owns 1,068,715 shares of the technology company’s stock valued at $51,064,000 after buying an additional 21,086 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of CGI Group by 8.4% in the first quarter. Alliancebernstein L.P. now owns 653,771 shares of the technology company’s stock valued at $31,335,000 after buying an additional 50,487 shares during the period. Hedge funds and other institutional investors own 71.50% of the company’s stock.
CGI Group, Inc. (NYSE:GIB) traded up 0.4971% during mid-day trading on Wednesday, hitting $50.0576. 30,633 shares of the stock were exchanged. CGI Group, Inc. has a 1-year low of $45.73 and a 1-year high of $53.65. The stock has a 50 day moving average price of $51.45 and a 200 day moving average price of $49.14. The company has a market capitalization of $14.78 billion, a PE ratio of 17.6570 and a beta of 0.93.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.01. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the firm posted $0.89 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that CGI Group, Inc. will post $2.92 earnings per share for the current fiscal year.
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Several analysts have commented on the stock. BidaskClub downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Barclays PLC restated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CGI Group in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 target price on the stock in a report on Friday, July 21st. Finally, Beacon Securities restated a “buy” rating on shares of CGI Group in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. CGI Group presently has a consensus rating of “Buy” and a consensus price target of $61.00.
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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