United Services Automobile Association Invests $616,000 in CGI Group, Inc. $GIB

United Services Automobile Association bought a new stake in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) in the first quarter, HoldingsChannel reports. The fund bought 6,274 shares of the technology company’s stock, valued at approximately $616,000.

A number of other hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of CGI Group by 9,881.5% in the 1st quarter. GAMMA Investing LLC now owns 2,695 shares of the technology company’s stock valued at $269,000 after acquiring an additional 2,668 shares during the period. Fifth Third Bancorp lifted 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 during the last quarter. Vontobel Holding Ltd. lifted its holdings in CGI Group by 1.7% during the 1st quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company’s stock worth $613,000 after purchasing an additional 100 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in CGI Group in the 1st quarter worth about $494,000. Finally, Principal Financial Group Inc. raised its stake in CGI Group by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company’s stock worth $5,505,000 after purchasing an additional 500 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors.

CGI Group Price Performance

Shares of NYSE:GIB opened at $95.63 on Wednesday. The company has a 50 day moving average of $98.28 and a 200 day moving average of $102.54. The stock has a market cap of $21.32 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.77 and a beta of 0.75. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.01. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $1.91 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.1086 per share. This is an increase from CGI Group’s previous quarterly dividend of $0.11. This represents a $0.43 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 15th. CGI Group’s dividend payout ratio is currently 7.95%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group decreased their price target on CGI Group from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, July 31st. Royal Bank Of Canada dropped their price target on CGI Group from $185.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $148.25.

About CGI Group

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.