C WorldWide Group Holding A S Buys 6,388 Shares of CGI Group, Inc. (NYSE:GIB)

C WorldWide Group Holding A S lifted its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 56.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 17,692 shares of the technology company’s stock after buying an additional 6,388 shares during the period. C WorldWide Group Holding A S’s holdings in CGI Group were worth $1,766,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Fifth Third Bancorp increased its holdings in CGI Group by 239.5% during the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company’s stock worth $26,000 after purchasing an additional 182 shares in the last quarter. Hoey Investments Inc. purchased a new position in CGI Group in the fourth quarter valued at approximately $99,000. Versant Capital Management Inc lifted its position in shares of CGI Group by 371.7% during the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company’s stock worth $105,000 after acquiring an additional 829 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of CGI Group by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company’s stock worth $142,000 after acquiring an additional 579 shares in the last quarter. Finally, Creekmur Asset Management LLC lifted its position in shares of CGI Group by 7,051.9% during the first quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company’s stock worth $193,000 after acquiring an additional 1,904 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada restated an “outperform” rating and set a $192.00 target price on shares of CGI Group in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $156.75.

CGI Group Price Performance

Shares of CGI Group stock traded down $0.04 during trading on Friday, hitting $100.39. The stock had a trading volume of 26,994 shares, compared to its average volume of 211,774. The business’s 50-day moving average is $106.04 and its 200 day moving average is $107.11. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The firm has a market cap of $22.53 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 0.76.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 16th were paid a dividend of $0.1086 per share. This is an increase from CGI Group’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.43%. CGI Group’s dividend payout ratio (DPR) is currently 7.83%.

CGI Group Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.