CGI Group, Inc. $GIB Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 59.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,661 shares of the technology company’s stock after selling 6,924 shares during the period. Farther Finance Advisors LLC’s holdings in CGI Group were worth $430,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Danske Bank A S acquired a new stake in CGI Group in the 3rd quarter worth about $768,000. Hughes Financial Services LLC acquired a new stake in CGI Group in the 3rd quarter worth about $174,000. Entropy Technologies LP acquired a new stake in CGI Group in the 3rd quarter worth about $236,000. Kepler Cheuvreux Suisse SA acquired a new stake in CGI Group in the 3rd quarter worth about $6,498,000. Finally, Rossby Financial LCC boosted its stake in CGI Group by 49,840.0% in the 3rd quarter. Rossby Financial LCC now owns 4,994 shares of the technology company’s stock worth $449,000 after buying an additional 4,984 shares during the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Scotiabank assumed coverage on CGI Group in a research note on Tuesday, January 27th. They issued a “sector perform” rating on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $150.00 price target on shares of CGI Group in a research note on Wednesday, April 1st. Weiss Ratings lowered CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Finally, TD Securities raised CGI Group to a “strong-buy” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.00.

CGI Group Stock Performance

NYSE GIB opened at $73.45 on Tuesday. The firm has a market capitalization of $15.77 billion, a P/E ratio of 13.75 and a beta of 0.58. CGI Group, Inc. has a 1-year low of $69.40 and a 1-year high of $110.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.70. The business’s 50-day simple moving average is $73.21 and its 200-day simple moving average is $83.01.

CGI Group (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings data on Wednesday, January 28th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.04). The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $4.08 billion. CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.97 earnings per share. Equities analysts predict that CGI Group, Inc. will post 6.51 EPS for the current year.

CGI Group Profile

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.