CIBC Asset Management Inc lessened its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 33.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,360,753 shares of the technology company’s stock after selling 676,108 shares during the quarter. CIBC Asset Management Inc owned 0.46% of CGI Group worth $70,373,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. DORCHESTER WEALTH MANAGEMENT Co increased its stake in CGI Group by 13.7% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 129,745 shares of the technology company’s stock valued at $6,726,000 after purchasing an additional 15,600 shares in the last quarter. AXA increased its stake in CGI Group by 26.8% during the 2nd quarter. AXA now owns 160,472 shares of the technology company’s stock valued at $8,195,000 after purchasing an additional 33,943 shares in the last quarter. Intact Investment Management Inc. increased its stake in CGI Group by 5.5% during the 3rd quarter. Intact Investment Management Inc. now owns 327,400 shares of the technology company’s stock valued at $21,176,000 after purchasing an additional 17,200 shares in the last quarter. OxFORD Asset Management LLP increased its stake in CGI Group by 9.3% during the 2nd quarter. OxFORD Asset Management LLP now owns 47,214 shares of the technology company’s stock valued at $2,411,000 after purchasing an additional 4,010 shares in the last quarter. Finally, FMR LLC increased its stake in CGI Group by 6.9% during the 2nd quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock valued at $1,110,566,000 after purchasing an additional 1,400,049 shares in the last quarter. Institutional investors and hedge funds own 60.16% of the company’s stock.

A number of brokerages have commented on GIB. Scotiabank boosted their price target on shares of CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday. Royal Bank Of Canada restated an “outperform” rating and set a $85.00 price target (up previously from $75.00) on shares of CGI Group in a research note on Thursday. Zacks Investment Research lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. BidaskClub lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Barclays PLC restated an “overweight” rating and set a $60.00 price target (up previously from $55.00) on shares of CGI Group in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $68.75.

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CGI Group, Inc. (NYSE:GIB) traded down $0.24 during midday trading on Monday, hitting $53.11. 108,988 shares of the stock traded hands, compared to its average volume of 177,692. CGI Group, Inc. has a 12-month low of $45.81 and a 12-month high of $53.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.72 and a current ratio of 1.06. The company has a market cap of $13,970.00, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.87 and a beta of 0.91.

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.

Institutional Ownership by Quarter for CGI Group (NYSE:GIB)

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