CGI Group Inc (NYSE:GIB) Holdings Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of CGI Group Inc (NYSE:GIB) (TSE:GIB.A) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 179,288 shares of the technology company’s stock after purchasing an additional 17,426 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of CGI Group worth $9,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its holdings in CGI Group by 21.2% during the 2nd quarter. Advisor Group Inc. now owns 2,172 shares of the technology company’s stock valued at $111,000 after acquiring an additional 380 shares during the period. Letko Brosseau & Associates Inc. purchased a new position in CGI Group during the 2nd quarter valued at $203,000. Marshall Wace North America L.P. purchased a new stake in shares of CGI Group in the 2nd quarter worth $214,000. Intercontinental Wealth Advisors LLC purchased a new stake in shares of CGI Group in the 2nd quarter worth $217,000. Finally, Checchi Capital Advisers LLC purchased a new stake in shares of CGI Group in the 2nd quarter worth $221,000. 66.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CGI Group Inc (NYSE:GIB) traded down $0.16 during mid-day trading on Friday, hitting $54.33. The stock had a trading volume of 134,419 shares, compared to its average volume of 153,884. CGI Group Inc has a fifty-two week low of $45.81 and a fifty-two week high of $54.99. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $13,830.00, a price-to-earnings ratio of 19.97, a PEG ratio of 1.93 and a beta of 0.87.

GIB has been the subject of several research reports. Zacks Investment Research cut CGI Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target (up from $75.00) on shares of CGI Group in a research report on Thursday, November 9th. Finally, Scotiabank upped their target price on CGI Group from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $68.75.

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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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