Shell Asset Management Co. raised its position in CGI Group Inc. (NYSE:GIB) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 23,777 shares of the company’s stock after buying an additional 279 shares during the period. Shell Asset Management Co.’s holdings in CGI Group were worth $1,312,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of GIB. Royal Bank of Canada raised its position in CGI Group by 3.8% in the first quarter. Royal Bank of Canada now owns 7,065,433 shares of the company’s stock worth $337,587,000 after buying an additional 261,245 shares in the last quarter. Acadian Asset Management LLC raised its position in CGI Group by 24.7% in the second quarter. Acadian Asset Management LLC now owns 2,066,100 shares of the company’s stock worth $87,797,000 after buying an additional 409,900 shares in the last quarter. Legal & General Group Plc raised its position in CGI Group by 3.0% in the first quarter. Legal & General Group Plc now owns 1,035,854 shares of the company’s stock worth $49,707,000 after buying an additional 29,783 shares in the last quarter. GaveKal Capital LLC raised its position in CGI Group by 19.9% in the second quarter. GaveKal Capital LLC now owns 287,698 shares of the company’s stock worth $12,226,000 after buying an additional 47,678 shares in the last quarter. Finally, Credit Agricole S A raised its position in CGI Group by 7.0% in the first quarter. Credit Agricole S A now owns 279,970 shares of the company’s stock worth $13,376,000 after buying an additional 18,204 shares in the last quarter. 71.70% of the stock is owned by institutional investors.
Shares of CGI Group Inc. (NYSE:GIB) traded down 0.10% during midday trading on Friday, reaching $47.63. 176,212 shares of the company traded hands. The stock’s 50-day moving average is $48.31 and its 200-day moving average is $46.65. CGI Group Inc. has a 1-year low of $36.04 and a 1-year high of $50.58. The stock has a market capitalization of $14.42 billion, a P/E ratio of 19.30 and a beta of 0.93.
CGI Group (NYSE:GIB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The business earned $2.67 billion during the quarter, compared to the consensus estimate of $2.67 billion. CGI Group had a return on equity of 17.06% and a net margin of 9.61%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. Equities analysts predict that CGI Group Inc. will post $2.65 EPS for the current fiscal year.
GIB has been the subject of a number of recent research reports. Jefferies Group raised their price target on shares of CGI Group from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Monday, August 1st. Zacks Investment Research raised shares of CGI Group from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Canaccord Genuity reissued a “buy” rating on shares of CGI Group in a research report on Monday, August 15th. Macquarie assumed coverage on shares of CGI Group in a report on Tuesday, September 27th. They set a “neutral” rating and a $50.00 target price for the company. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of CGI Group in a report on Monday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $49.33.
About CGI Group
CGI Group Inc (CGI) is a Canada-based company that provides information technology (IT) consulting, systems integration, IT outsourcing and business solutions. The Company’s delivery model provides for work to be carried out onsite at client premises, or through its centers located globally. In addition, CGI has a range of business solutions, which helps its clients and shareholders.
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