Oppenheimer Asset Management Inc. increased its stake in CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 19.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,226 shares of the technology company’s stock after purchasing an additional 2,788 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CGI Group were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in GIB. FMR LLC boosted its stake in CGI Group by 6.9% in the 2nd quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock worth $1,110,566,000 after purchasing an additional 1,400,049 shares in the last quarter. Jarislowsky Fraser Ltd lifted its stake in CGI Group by 19.8% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 8,278,011 shares of the technology company’s stock valued at $428,249,000 after acquiring an additional 1,366,578 shares during the period. Ninepoint Partners LP acquired a new stake in CGI Group during the 3rd quarter valued at approximately $29,330,000. TD Asset Management Inc. lifted its stake in CGI Group by 19.5% during the 3rd quarter. TD Asset Management Inc. now owns 3,196,280 shares of the technology company’s stock valued at $165,217,000 after acquiring an additional 520,675 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in CGI Group by 1,725.1% during the 3rd quarter. Mackenzie Financial Corp now owns 463,074 shares of the technology company’s stock valued at $24,020,000 after acquiring an additional 437,702 shares during the period. Institutional investors own 57.46% of the company’s stock.
Shares of CGI Group Inc (GIB) traded up $0.26 during midday trading on Friday, reaching $53.47. 107,700 shares of the company’s stock traded hands, compared to its average volume of 174,663. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.72 and a current ratio of 1.06. CGI Group Inc has a twelve month low of $45.81 and a twelve month high of $54.42. The firm has a market cap of $13,535.08, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.88 and a beta of 0.87.
Several analysts have commented on GIB shares. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective (up from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. Zacks Investment Research cut shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Scotiabank lifted their price objective on shares of CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research note 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. The company has a consensus rating of “Hold” and a consensus target price of $68.75.
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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.
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