Russell Investments Group Ltd. reduced its holdings in shares of CGI (NYSE:GIB) (TSE:GIB.A) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 842,312 shares of the technology company’s stock after selling 91,053 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.29% of CGI worth $52,898,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Daiwa SB Investments Ltd. bought a new stake in CGI during the second quarter worth $206,000. Dean Capital Investments Management LLC purchased a new stake in CGI in the second quarter worth $397,000. Raymond James Financial Services Advisors Inc. purchased a new stake in CGI in the second quarter worth $449,000. Assenagon Asset Management S.A. purchased a new stake in CGI in the second quarter worth $815,000. Finally, ETRADE Capital Management LLC increased its position in CGI by 20.6% in the first quarter. ETRADE Capital Management LLC now owns 16,759 shares of the technology company’s stock worth $966,000 after buying an additional 2,857 shares during the last quarter. Institutional investors and hedge funds own 60.14% of the company’s stock.

A number of research firms have issued reports on GIB. Desjardins downgraded CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Zacks Investment Research raised CGI from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Barclays raised their target price on CGI from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, May 3rd. Finally, Scotiabank downgraded CGI from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. CGI has a consensus rating of “Buy” and a consensus target price of $72.25.

NYSE:GIB opened at $65.29 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.99 and a quick ratio of 0.68. CGI has a 1 year low of $49.35 and a 1 year high of $66.31. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.25 and a beta of 0.58.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.24. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.98 billion. CGI had a return on equity of 18.06% and a net margin of 9.33%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.93 earnings per share. equities research analysts predict that CGI will post 3.18 EPS for the current fiscal year.

CGI Profile

CGI Group Inc provides information technology and business process services in Canada and internationally. It offers application development and maintenance, portfolio management, quality assurance and testing, modernization, and migration services; agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific business consulting services; business-to-business and customer operations support, purchase management, revenue management, and supplier payment services; and data center facilities and management, technical service desk, printing and document management, remote infrastructure, transformation, storage as a service, data vaulting, disaster recovery and archiving as a service, bottomless edge-to-core storage, and file sync and share as a service, as well as infrastructure solutions and consulting services.

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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