Deutsche Bank AG cut its holdings in CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 462,915 shares of the technology company’s stock after selling 11,139 shares during the period. Deutsche Bank AG owned 0.16% of CGI Group worth $25,147,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenleaf Trust raised its position in CGI Group by 97.5% in the fourth quarter. Greenleaf Trust now owns 2,015 shares of the technology company’s stock worth $109,000 after acquiring an additional 995 shares during the period. Candriam Luxembourg S.C.A. bought a new position in CGI Group in the fourth quarter worth approximately $279,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CGI Group in the third quarter worth $318,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of CGI Group in the fourth quarter worth $344,000. Finally, Quantbot Technologies LP purchased a new stake in shares of CGI Group in the third quarter worth $356,000. Institutional investors and hedge funds own 59.69% of the company’s stock.
A number of analysts have recently issued reports on GIB shares. Zacks Investment Research raised shares of CGI Group from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Monday, February 5th. ValuEngine raised shares of CGI Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Barclays increased their price objective on shares of CGI Group from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $71.00.
GIB stock opened at $58.20 on Wednesday. The firm has a market cap of $16,745.22, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.93 and a beta of 0.73. CGI Group Inc has a 52 week low of $46.27 and a 52 week high of $59.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 0.99.
CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.78 billion. CGI Group had a net margin of 9.50% and a return on equity of 17.54%. CGI Group’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. equities analysts predict that CGI Group Inc will post 3.34 EPS for the current fiscal year.
CGI Group declared that its board has authorized a stock buyback plan on Wednesday, January 31st that authorizes the company to buyback 20,590,000 shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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CGI Group Company 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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