Axa Has $15.47 Million Stake in CGI Group Inc (GIB)
Axa grew its stake in CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 85.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 298,172 shares of the technology company’s stock after buying an additional 137,700 shares during the quarter. Axa owned 0.10% of CGI Group worth $15,466,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of GIB. Advisor Group Inc. lifted its holdings in shares of CGI Group by 21.2% in the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after buying an additional 380 shares during the period. Letko Brosseau & Associates Inc. acquired a new position in shares of CGI Group in the 2nd quarter valued at about $203,000. Marshall Wace North America L.P. acquired a new position in shares of CGI Group in the 2nd quarter valued at about $214,000. Intercontinental Wealth Advisors LLC acquired a new position in shares of CGI Group in the 2nd quarter valued at about $217,000. Finally, Worth Venture Partners LLC acquired a new position in shares of CGI Group in the 2nd quarter valued at about $221,000. 66.66% of the stock is owned by institutional investors and hedge funds.
GIB has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price objective (up previously from $75.00) on shares of CGI Group in a report on Thursday, November 9th. Zacks Investment Research cut CGI Group from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Scotiabank upped their price target on CGI Group from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. CGI Group presently has a consensus rating of “Buy” and a consensus price target of $68.75.
CGI Group Inc (GIB) opened at $53.37 on Wednesday. The firm has a market capitalization of $13,641.91, a PE ratio of 19.22, a P/E/G ratio of 1.89 and a beta of 0.87. CGI Group Inc has a fifty-two week low of $45.81 and a fifty-two week high of $54.64. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.29.
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CGI Group 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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