TD Asset Management Inc. boosted its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 5.6% during the second quarter, Holdings Channel reports. The firm owned 2,675,605 shares of the technology company’s stock after buying an additional 141,003 shares during the period. TD Asset Management Inc.’s holdings in CGI Group were worth $136,408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Jarislowsky Fraser Ltd increased its position in shares of CGI Group by 23.3% in the second quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock worth $352,623,000 after buying an additional 1,304,144 shares during the period. Vanguard Group Inc. increased its position in shares of CGI Group by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,298,962 shares of the technology company’s stock worth $253,979,000 after buying an additional 133,978 shares during the period. Great West Life Assurance Co. Can increased its position in shares of CGI Group by 3.2% in the second quarter. Great West Life Assurance Co. Can now owns 2,523,831 shares of the technology company’s stock worth $128,583,000 after buying an additional 77,377 shares during the period. CIBC Asset Management Inc increased its position in shares of CGI Group by 37.0% in the second quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock worth $103,953,000 after buying an additional 550,382 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of CGI Group by 0.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,238,538 shares of the technology company’s stock worth $59,363,000 after buying an additional 9,599 shares during the period. 63.36% of the stock is owned by institutional investors.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. CGI Group’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS.

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A number of research analysts have recently commented on GIB shares. Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Barclays PLC reissued an “overweight” rating and issued a $60.00 price objective (up previously from $55.00) on shares of CGI Group in a research report on Thursday. BidaskClub raised shares of CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Beacon Securities reissued a “buy” rating on shares of CGI Group in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. CGI Group presently has an average rating of “Buy” and an average target price of $61.00.

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

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