OxFORD Asset Management LLP increased its stake in shares of CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,912 shares of the technology company’s stock after buying an additional 3,698 shares during the quarter. OxFORD Asset Management LLP’s holdings in CGI Group were worth $2,630,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of GIB. Advisor Group Inc. lifted its position in shares of CGI Group by 21.2% during the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock worth $111,000 after buying an additional 380 shares during the period. Letko Brosseau & Associates Inc. bought a new position in shares of CGI Group during the 2nd quarter worth approximately $203,000. Marshall Wace North America L.P. bought a new position in shares of CGI Group during the 2nd quarter worth approximately $214,000. Intercontinental Wealth Advisors LLC bought a new position in shares of CGI Group during the 2nd quarter worth approximately $217,000. Finally, Checchi Capital Advisers LLC bought a new position in shares of CGI Group during the 2nd quarter worth approximately $221,000. Institutional investors and hedge funds own 57.46% of the company’s stock.
Shares of CGI Group Inc (NYSE:GIB) traded down $0.40 on Tuesday, reaching $52.90. The company’s stock had a trading volume of 133,700 shares, compared to its average volume of 174,650. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.29. CGI Group Inc has a 52-week low of $45.81 and a 52-week high of $54.42. The company has a market cap of $13,557.97, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 1.88 and a beta of 0.87.
GIB has been the subject of several analyst reports. Zacks Investment Research downgraded CGI Group from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price objective (up previously from $75.00) on shares of CGI Group in a research report on Thursday, November 9th. Finally, Scotiabank lifted their price objective on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. CGI Group has a consensus rating of “Hold” and a consensus target price of $68.75.
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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