AGF Investments Inc. increased its holdings in shares of CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 947,256 shares of the technology company’s stock after acquiring an additional 57,316 shares during the quarter. AGF Investments Inc.’s holdings in CGI Group were worth $51,470,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of GIB. Jarislowsky Fraser Ltd increased its holdings in shares of CGI Group by 19.8% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 8,278,011 shares of the technology company’s stock worth $428,249,000 after acquiring an additional 1,366,578 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of CGI Group during the 4th quarter worth approximately $60,517,000. Ninepoint Partners LP acquired a new position in shares of CGI Group during the 3rd quarter worth approximately $29,330,000. TD Asset Management Inc. increased its holdings in shares of CGI Group by 19.5% during the 3rd quarter. TD Asset Management Inc. now owns 3,196,280 shares of the technology company’s stock worth $165,217,000 after acquiring an additional 520,675 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of CGI Group by 1,725.1% during the 3rd quarter. Mackenzie Financial Corp now owns 463,074 shares of the technology company’s stock worth $24,020,000 after acquiring an additional 437,702 shares during the last quarter. 58.86% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on GIB. Barclays boosted their price target on CGI Group from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Zacks Investment Research upgraded CGI Group from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, February 5th. ValuEngine upgraded CGI Group from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Scotiabank boosted their price target on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price target (up from $75.00) on shares of CGI Group in a research note on Thursday, November 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.00.
Shares of CGI Group Inc (NYSE GIB) opened at $55.97 on Tuesday. The stock has a market capitalization of $14,260.00, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.82 and a beta of 0.77. CGI Group Inc has a one year low of $45.81 and a one year high of $58.93. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 0.24.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.78 billion. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. equities analysts predict that CGI Group Inc will post 3.36 earnings per share for the current fiscal year.
CGI Group announced that its board has initiated a stock buyback plan on Wednesday, January 31st that permits the company to repurchase 20,590,000 shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors 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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