GHP Investment Advisors Inc. grew its stake in shares of CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 74.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,055 shares of the technology company’s stock after purchasing an additional 3,425 shares during the period. GHP Investment Advisors Inc.’s holdings in CGI Group were worth $438,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of CGI Group by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 169,099 shares of the technology company’s stock worth $8,636,000 after buying an additional 3,110 shares in the last quarter. State Street Corp bought a new position in shares of CGI Group in the second quarter worth approximately $684,000. DekaBank Deutsche Girozentrale lifted its stake in shares of CGI Group by 42.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 144,814 shares of the technology company’s stock worth $7,296,000 after buying an additional 43,182 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CGI Group by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 256,329 shares of the technology company’s stock worth $13,296,000 after buying an additional 7,365 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of CGI Group in the third quarter worth approximately $356,000. 59.69% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, February 5th. ValuEngine raised shares of CGI Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, Barclays increased their price objective on shares of CGI Group from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. CGI Group presently has a consensus rating of “Buy” and an average price target of $71.00.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.78 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. CGI Group had a net margin of 9.50% and a return on equity of 17.54%. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business earned $0.90 earnings per share. CGI Group’s quarterly revenue was up 5.3% compared to the same quarter last year. research analysts anticipate that CGI Group Inc will post 3.34 EPS for the current fiscal year.
CGI Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 31st that permits the company to repurchase 20,590,000 outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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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