Montrusco Bolton Investments Inc. trimmed its position in CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 699,464 shares of the technology company’s stock after selling 50,516 shares during the period. CGI Group accounts for 2.1% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 13th biggest position. Montrusco Bolton Investments Inc. owned about 0.27% of CGI Group worth $38,129,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Advisor Group Inc. boosted its holdings in CGI Group by 21.2% in the 2nd 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 during the period. Letko Brosseau & Associates Inc. bought a new position in CGI Group in the 2nd quarter valued at $203,000. Marshall Wace North America L.P. bought a new position in CGI Group in the 2nd quarter valued at $214,000. Worth Venture Partners LLC bought a new position in CGI Group in the 2nd quarter valued at $221,000. Finally, GHP Investment Advisors Inc. bought a new position in CGI Group in the 3rd quarter valued at $240,000. 66.53% of the stock is owned by hedge funds and other institutional investors.
GIB has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target (up from $75.00) on shares of CGI Group in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Scotiabank raised their price objective on shares of CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.75.
CGI Group Inc (NYSE:GIB) traded up $0.07 during trading on Friday, hitting $53.10. 191,000 shares of the stock traded hands, compared to its average volume of 167,050. 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 stock has a market cap of $13,650.00, a PE ratio of 19.45, a P/E/G ratio of 1.93 and a beta of 0.87. CGI Group Inc has a 12-month low of $45.81 and a 12-month high of $54.99.
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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