CGI Group Inc (GIB) Holdings Trimmed by Cidel Asset Management Inc.

Cidel Asset Management Inc. lessened its position in shares of CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 784,800 shares of the technology company’s stock after selling 15,092 shares during the period. CGI Group makes up approximately 1.8% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 20th largest position. Cidel Asset Management Inc.’s holdings in CGI Group were worth $42,639,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in shares of CGI Group by 13.7% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 129,745 shares of the technology company’s stock worth $6,726,000 after acquiring an additional 15,600 shares during the period. Intact Investment Management Inc. boosted its holdings in shares of CGI Group by 5.5% during the third quarter. Intact Investment Management Inc. now owns 327,400 shares of the technology company’s stock worth $21,176,000 after acquiring an additional 17,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CGI Group by 2.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,044 shares of the technology company’s stock worth $4,865,000 after acquiring an additional 2,278 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of CGI Group by 19.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 17,226 shares of the technology company’s stock worth $894,000 after acquiring an additional 2,788 shares during the period. Finally, Commonwealth Bank of Australia boosted its holdings in shares of CGI Group by 9.1% during the third quarter. Commonwealth Bank of Australia now owns 28,861 shares of the technology company’s stock worth $1,491,000 after acquiring an additional 2,417 shares during the period. Institutional investors own 58.86% of the company’s stock.

Shares of CGI Group Inc (NYSE:GIB) opened at $57.96 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.70. The stock has a market capitalization of $16,632.92, a P/E ratio of 21.47, a P/E/G ratio of 1.91 and a beta of 0.77. CGI Group Inc has a 12 month low of $45.81 and a 12 month high of $58.93.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.78 billion. CGI Group had a return on equity of 17.54% and a net margin of 9.50%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. research analysts predict that CGI Group Inc will post 3.36 EPS for the current year.

CGI Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 31st that authorizes the company to repurchase 20,590,000 shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

A number of brokerages have recently issued reports on GIB. Barclays boosted their price objective on CGI Group from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Zacks Investment Research upgraded CGI Group from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, February 5th. ValuEngine upgraded CGI Group from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Scotiabank boosted their price objective on CGI Group from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective (up previously from $75.00) on shares of CGI Group in a report on Thursday, November 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $71.00.

TRADEMARK VIOLATION NOTICE: This article was first published by Markets Daily and is owned by of Markets Daily. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.themarketsdaily.com/2018/02/15/cgi-group-inc-gib-holdings-trimmed-by-cidel-asset-management-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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply