JPMorgan Chase & Co. cut its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 50.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,507 shares of the technology company’s stock after selling 96,742 shares during the quarter. JPMorgan Chase & Co.’s holdings in CGI Group were worth $4,928,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Jarislowsky Fraser Ltd increased its position in shares of CGI Group by 23.3% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 6,911,433 shares of the technology company’s stock valued at $352,623,000 after purchasing an additional 1,304,144 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CGI Group by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,298,962 shares of the technology company’s stock valued at $253,979,000 after purchasing an additional 133,978 shares during the last quarter. TD Asset Management Inc. increased its position in shares of CGI Group by 5.6% during the 2nd quarter. TD Asset Management Inc. now owns 2,675,605 shares of the technology company’s stock valued at $136,408,000 after purchasing an additional 141,003 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of CGI Group by 3.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 2,523,831 shares of the technology company’s stock valued at $128,583,000 after purchasing an additional 77,377 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of CGI Group by 37.0% during the 2nd quarter. CIBC Asset Management Inc now owns 2,036,861 shares of the technology company’s stock valued at $103,953,000 after purchasing an additional 550,382 shares during the last quarter. Hedge funds and other institutional investors own 70.69% of the company’s stock.

CGI Group, Inc. (NYSE:GIB) opened at 52.39 on Friday. The company’s 50-day moving average price is $51.20 and its 200 day moving average price is $49.97. The company has a market capitalization of $15.47 billion, a price-to-earnings ratio of 17.69 and a beta of 0.92. CGI Group, Inc. has a 52-week low of $45.73 and a 52-week high of $53.65.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). CGI Group had a return on equity of 17.10% and a net margin of 10.18%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts expect that CGI Group, Inc. will post $2.92 EPS for the current fiscal year.

Several equities analysts have recently commented on the company. Zacks Investment Research lowered CGI Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Barclays PLC reiterated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CGI Group in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded CGI Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. CGI Group currently has a consensus rating of “Hold” and a consensus price target of $64.00.

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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.

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

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