Gotham Asset Management LLC Has $738,000 Stake in CGI Group, Inc. (GIB)
Gotham Asset Management LLC decreased its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 68.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,444 shares of the technology company’s stock after selling 30,763 shares during the quarter. Gotham Asset Management LLC’s holdings in CGI Group were worth $738,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of CGI Group by 38.4% during the first quarter. Morgan Stanley now owns 596,523 shares of the technology company’s stock valued at $28,592,000 after buying an additional 165,506 shares during the last quarter. AXA grew its stake in shares of CGI Group by 26.8% during the second quarter. AXA now owns 160,472 shares of the technology company’s stock valued at $8,195,000 after buying an additional 33,943 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of CGI Group by 37.0% during the second quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock valued at $103,953,000 after buying an additional 550,382 shares during the last quarter. OxFORD Asset Management LLP grew its stake in shares of CGI Group by 9.3% during the second quarter. OxFORD Asset Management LLP now owns 47,214 shares of the technology company’s stock valued at $2,411,000 after buying an additional 4,010 shares during the last quarter. Finally, FMR LLC grew its stake in shares of CGI Group by 6.9% during the second quarter. FMR LLC now owns 21,735,317 shares of the technology company’s stock valued at $1,110,566,000 after buying an additional 1,400,049 shares during the last quarter. 62.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on GIB shares. Barclays PLC reaffirmed an “overweight” rating and set a $60.00 target price (up previously from $55.00) on shares of CGI Group in a research note on Wednesday, August 9th. BidaskClub cut CGI Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research cut CGI Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $64.00.
CGI Group, Inc. (GIB) opened at 53.58 on Thursday. The stock’s 50 day moving average price is $51.91 and its 200-day moving average price is $50.32. The company has a market cap of $15.82 billion, a PE ratio of 18.09 and a beta of 0.92. CGI Group, Inc. has a 1-year low of $45.81 and a 1-year high of $53.78.
CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). CGI Group had a net margin of 10.18% and a return on equity of 17.10%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the firm posted $0.89 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that CGI Group, Inc. will post $2.95 earnings per share for the current 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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