Montrusco Bolton Investments Inc. lessened its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 6.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 749,980 shares of the technology company’s stock after selling 53,805 shares during the period. CGI Group accounts for about 2.1% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 14th largest position. Montrusco Bolton Investments Inc. owned 0.25% of CGI Group worth $38,799,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Shell Asset Management Co. grew its holdings in shares of CGI Group by 138.8% during the third quarter. Shell Asset Management Co. now owns 58,460 shares of the technology company’s stock worth $2,212,000 after purchasing an additional 33,983 shares during the last quarter. Eqis Capital Management Inc. grew its holdings in shares of CGI Group by 16.9% during the third quarter. Eqis Capital Management Inc. now owns 17,840 shares of the technology company’s stock worth $925,000 after purchasing an additional 2,581 shares during the last quarter. Scotia Capital Inc. grew its holdings in shares of CGI Group by 5.0% during the second quarter. Scotia Capital Inc. now owns 211,524 shares of the technology company’s stock worth $10,776,000 after purchasing an additional 10,108 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of CGI Group by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 2,236,931 shares of the technology company’s stock worth $114,093,000 after purchasing an additional 104,916 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of CGI Group by 44.4% during the second quarter. Cubist Systematic Strategies LLC now owns 8,855 shares of the technology company’s stock worth $452,000 after purchasing an additional 2,721 shares during the last quarter. Institutional investors own 62.81% of the company’s stock.

Shares of CGI Group, Inc. (NYSE GIB) traded down 1.12% during trading on Friday, hitting $53.00. The stock had a trading volume of 174,622 shares. The stock has a 50 day moving average price of $52.01 and a 200-day moving average price of $50.34. The stock has a market capitalization of $15.65 billion, a price-to-earnings ratio of 17.89 and a beta of 0.92. CGI Group, Inc. has a one year low of $45.81 and a one year high of $53.78.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, equities research analysts predict that CGI Group, Inc. will post $2.95 earnings per share for the current year.

Several analysts have recently commented on GIB shares. BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research raised CGI Group from a “sell” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Tuesday, July 4th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $60.00 price target (up previously from $55.00) on shares of CGI Group in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. CGI Group has an average rating of “Hold” and an average price target of $64.00.

ILLEGAL ACTIVITY WARNING: “CGI Group, Inc. (GIB) Shares Sold by Montrusco Bolton Investments Inc.” was published by Daily Political and is the property of of Daily Political. If you are reading this news story on another website, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The legal version of this news story can be read at https://www.dailypolitical.com/2017/10/20/cgi-group-inc-gib-shares-sold-by-montrusco-bolton-investments-inc.html.

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.

Want to see what other hedge funds are holding GIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A).

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

Receive News & Ratings for CGI Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.