Swiss National Bank Sells 12,700 Shares of CGI Group, Inc. (GIB)

Swiss National Bank lessened its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 812,600 shares of the technology company’s stock after selling 12,700 shares during the quarter. Swiss National Bank owned 275,177.79% of CGI Group worth $42,148,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Advisor Group Inc. raised its stake in CGI Group by 21.2% in the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after purchasing an additional 380 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in CGI Group in the second quarter valued at about $202,000. Letko Brosseau & Associates Inc. acquired a new position in CGI Group in the second quarter valued at about $203,000. Marshall Wace North America L.P. acquired a new position in CGI Group in the second quarter valued at about $214,000. Finally, Intercontinental Wealth Advisors LLC acquired a new position in CGI Group in the second quarter valued at about $217,000. 60.16% of the stock is owned by institutional investors.

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A number of research analysts recently commented on GIB shares. Zacks Investment Research raised CGI Group from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research note on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and issued a $60.00 price target (up previously from $55.00) on shares of CGI Group in a research note on Thursday, August 3rd. BidaskClub downgraded CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $85.00 price target (up previously from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. Finally, Scotiabank boosted their price target on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. CGI Group has a consensus rating of “Hold” and an average target price of $68.75.

CGI Group, Inc. (GIB) opened at $53.14 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.72 and a current ratio of 1.06. The company has a market capitalization of $15,745.13, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.87 and a beta of 0.91. CGI Group, Inc. has a 52 week low of $45.81 and a 52 week high of $53.85.

CGI Group 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.

Institutional Ownership by Quarter for CGI Group (NYSE:GIB)

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