CGI (NYSE:GIB) Stake Increased by AQR Capital Management LLC

AQR Capital Management LLC increased its holdings in shares of CGI (NYSE:GIB) (TSE:GIB.A) by 25.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,017,091 shares of the technology company’s stock after buying an additional 413,081 shares during the period. AQR Capital Management LLC owned 0.72% of CGI worth $129,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CGI by 4.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,999,332 shares of the technology company’s stock worth $257,670,000 after purchasing an additional 170,475 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in CGI by 4.5% in the third quarter. The Manufacturers Life Insurance Company now owns 3,644,680 shares of the technology company’s stock valued at $235,009,000 after acquiring an additional 155,719 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in CGI by 0.7% in the third quarter. Great West Life Assurance Co. Can now owns 2,881,849 shares of the technology company’s stock valued at $186,039,000 after acquiring an additional 20,888 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in CGI by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,042,670 shares of the technology company’s stock valued at $131,711,000 after acquiring an additional 5,352 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in CGI by 13.3% in the third quarter. Franklin Resources Inc. now owns 1,892,098 shares of the technology company’s stock valued at $121,908,000 after acquiring an additional 222,012 shares during the last quarter. 58.54% of the stock is owned by institutional investors and hedge funds.

GIB stock traded down $0.37 during mid-day trading on Friday, hitting $64.84. The stock had a trading volume of 236,406 shares, compared to its average volume of 232,350. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. CGI has a 52 week low of $52.84 and a 52 week high of $66.53. The firm has a market cap of $17.93 billion, a P/E ratio of 20.20, a P/E/G ratio of 2.03 and a beta of 0.61.

CGI (NYSE:GIB) (TSE:GIB.A) last released its earnings results on Wednesday, November 7th. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. CGI had a net margin of 9.92% and a return on equity of 17.97%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period last year, the firm earned $0.93 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts predict that CGI will post 3.53 EPS for the current year.

A number of analysts have commented on the stock. Desjardins reiterated a “buy” rating on shares of CGI in a research note on Friday, November 9th. BMO Capital Markets reiterated a “buy” rating on shares of CGI in a research note on Tuesday, December 4th. Zacks Investment Research cut shares of CGI from a “hold” rating to a “sell” rating in a research note on Tuesday. Raymond James restated a “buy” rating on shares of CGI in a research note on Tuesday. Finally, Royal Bank of Canada raised their price target on shares of CGI from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. CGI currently has an average rating of “Buy” and an average target price of $77.67.

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CGI Company Profile

CGI Group Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

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Institutional Ownership by Quarter for CGI (NYSE:GIB)

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