9,729 CGI Group, Inc. $GIB Shares Sold by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd lessened its stake in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 407,740 shares of the technology company’s stock after selling 9,729 shares during the period. CGI Group accounts for about 3.5% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings, making the stock its 8th biggest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings in CGI Group were worth $27,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Groupe la Francaise increased its stake in CGI Group by 0.9% in the 2nd quarter. Groupe la Francaise now owns 1,722,751 shares of the technology company’s stock valued at $111,335,000 after buying an additional 14,845 shares during the period. QV Investors Inc. raised its position in CGI Group by 31.2% during the 2nd quarter. QV Investors Inc. now owns 908,728 shares of the technology company’s stock worth $58,716,000 after buying an additional 216,086 shares during the last quarter. Wellington Management Group LLP raised its position in CGI Group by 60.4% during the 2nd quarter. Wellington Management Group LLP now owns 213,433 shares of the technology company’s stock worth $13,791,000 after buying an additional 80,368 shares during the last quarter. Cardinal Point Capital Management ULC lifted its stake in shares of CGI Group by 5.1% in the 3rd quarter. Cardinal Point Capital Management ULC now owns 130,553 shares of the technology company’s stock worth $8,903,000 after acquiring an additional 6,296 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in shares of CGI Group by 14.8% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 58,052 shares of the technology company’s stock worth $3,956,000 after acquiring an additional 7,500 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TD Securities downgraded CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada restated a “sector perform” rating and issued a $100.00 price target on shares of CGI Group in a research note on Tuesday, October 6th. Finally, Weiss Ratings raised CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 21st. Seven research analysts have rated the stock with a Hold rating. According to MarketBeat.com, CGI Group currently has a consensus rating of “Hold” and an average price target of $83.67.

CGI Group Trading Down 0.5%

Shares of GIB opened at $79.25 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $72.89 and a 200-day simple moving average of $72.66. CGI Group, Inc. has a 1-year low of $59.63 and a 1-year high of $95.20. The stock has a market cap of $16.41 billion, a price-to-earnings ratio of 13.59 and a beta of 0.47.

CGI Group Profile

CGI Inc, formerly known as CGI Group, is a Canadian information technology and business consulting company headquartered in Montreal, Quebec. Founded in 1976, the company provides technology and business solutions to organizations in the private and public sectors.

CGI’s services include business and IT consulting, systems integration, application development and management, cloud computing, cybersecurity, data analytics, digital transformation, and managed IT services. The company also develops and supports proprietary software and industry-specific solutions for areas such as financial services, government, healthcare, manufacturing, telecommunications, utilities, and retail.

CGI serves clients through operations across North America, Europe, and the Asia-Pacific region.