Goldman Sachs Group Inc. Sells 170,371 Shares of CGI Group, Inc. (GIB)
Goldman Sachs Group Inc. cut its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 45.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 208,562 shares of the technology company’s stock after selling 170,371 shares during the period. Goldman Sachs Group Inc. owned about 0.08% of CGI Group worth $10,652,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE raised its holdings in shares of CGI Group by 2.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the technology company’s stock valued at $106,000 after purchasing an additional 52 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of CGI Group by 21.2% in the second quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after purchasing an additional 380 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of CGI Group in the second quarter valued at approximately $202,000. Letko Brosseau & Associates Inc. acquired a new stake in shares of CGI Group in the second quarter valued at approximately $203,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of CGI Group in the second quarter valued at approximately $214,000. Institutional investors own 62.81% of the company’s stock.
A number of analysts have recently issued reports on GIB shares. Barclays PLC reiterated an “overweight” rating and issued a $60.00 price objective (up from $55.00) on shares of CGI Group in a report on Wednesday, August 9th. BidaskClub downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. CGI Group has an average rating of “Hold” and an average target price of $64.00.
CGI Group, Inc. (NYSE GIB) opened at 53.58 on Thursday. The company’s 50-day moving average is $51.91 and its 200-day moving average is $50.32. CGI Group, Inc. has a one year low of $45.81 and a one year high of $53.78. The firm has a market capitalization of $15.82 billion, a P/E ratio of 18.09 and a beta of 0.92.
CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. CGI Group’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts forecast that CGI Group, Inc. will post $2.95 earnings per share for the current fiscal year.
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CGI Group Company 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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