Rothschild Asset Management Inc. Reduces Position in CGI Group, Inc. (GIB)
Rothschild Asset Management Inc. lowered its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 22,241 shares of the technology company’s stock after selling 121 shares during the period. Rothschild Asset Management Inc.’s holdings in CGI Group were worth $1,474,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in GIB. UBS Asset Management Americas Inc. boosted its stake in CGI Group by 2.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 634,725 shares of the technology company’s stock worth $30,498,000 after buying an additional 12,257 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in CGI Group by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 72,115 shares of the technology company’s stock worth $3,450,000 after buying an additional 1,100 shares in the last quarter. Regentatlantic Capital LLC boosted its stake in CGI Group by 2.9% in the first quarter. Regentatlantic Capital LLC now owns 60,006 shares of the technology company’s stock worth $2,876,000 after buying an additional 1,680 shares in the last quarter. AMF Pensionsforsakring AB boosted its stake in CGI Group by 24.8% in the first quarter. AMF Pensionsforsakring AB now owns 175,316 shares of the technology company’s stock worth $8,376,000 after buying an additional 34,826 shares in the last quarter. Finally, Cumberland Partners Ltd purchased a new stake in CGI Group during the first quarter worth about $8,914,000. Institutional investors and hedge funds own 63.36% of the company’s stock.
Shares of CGI Group, Inc. (GIB) opened at 50.11 on Thursday. CGI Group, Inc. has a 52 week low of $45.73 and a 52 week high of $53.65. The firm has a market cap of $14.75 billion, a price-to-earnings ratio of 17.53 and a beta of 0.93. The company has a 50-day moving average price of $51.76 and a 200 day moving average price of $49.05.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.01. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.78 billion. CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. Analysts expect that CGI Group, Inc. will post $2.90 EPS for the current fiscal year.
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GIB has been the topic of a number of research reports. Beacon Securities restated a “buy” rating on shares of CGI Group in a research report on Wednesday, May 3rd. BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded CGI Group from a “sell” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Tuesday, July 4th. Finally, Barclays PLC restated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $61.00.
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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