GHP Investment Advisors Inc. boosted its position in shares of CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 74.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,055 shares of the technology company’s stock after buying an additional 3,425 shares during the period. GHP Investment Advisors Inc.’s holdings in CGI Group were worth $438,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Greenleaf Trust grew its stake in CGI Group by 97.5% during 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 in the last quarter. Premia Global Advisors LLC acquired a new stake in CGI Group during the fourth quarter worth about $188,000. Two Sigma Securities LLC acquired a new stake in shares of CGI Group in the 4th quarter valued at approximately $216,000. Candriam Luxembourg S.C.A. acquired a new stake in shares of CGI Group in the 4th quarter valued at approximately $279,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of CGI Group in the 3rd quarter valued at approximately $318,000. Hedge funds and other institutional investors own 59.79% of the company’s stock.
CGI Group Inc (GIB) opened at $58.74 on Thursday. The stock has a market cap of $16,894.96, a P/E ratio of 20.23, a P/E/G ratio of 1.95 and a beta of 0.73. CGI Group Inc has a fifty-two week low of $46.27 and a fifty-two week high of $59.89. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.24.
CGI Group declared that its board has initiated a stock repurchase program on Wednesday, January 31st that permits the company to buyback 20,590,000 shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
A number of research firms have recently weighed in on GIB. Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. ValuEngine upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, Barclays raised their price objective on shares of CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $71.00.
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CGI Group Company 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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