Park Avenue Securities LLC Invests $450,000 in CGI Group, Inc. (NYSE:GIB)

Park Avenue Securities LLC purchased a new position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,512 shares of the technology company's stock, valued at approximately $450,000.

Other hedge funds have also recently modified their holdings of the company. Sierra Ocean LLC purchased a new position in shares of CGI Group in the fourth quarter worth $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of CGI Group in the fourth quarter worth $83,000. Hoey Investments Inc. bought a new stake in shares of CGI Group in the fourth quarter worth $99,000. Versant Capital Management Inc grew its holdings in shares of CGI Group by 371.7% in 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 during the period. Finally, Blue Trust Inc. grew its holdings in shares of CGI Group by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock worth $134,000 after acquiring an additional 375 shares during the period. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Group Stock Performance

GIB traded down $0.49 during midday trading on Wednesday, reaching $107.36. The company had a trading volume of 182,558 shares, compared to its average volume of 205,748. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $106.42 and a two-hundred day moving average of $108.19. The company has a market cap of $24.09 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.95 and a beta of 0.77. CGI Group, Inc. has a 1 year low of $92.85 and a 1 year high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.97 EPS. As a group, equities research analysts predict that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be given a $0.1086 dividend. This is a boost from CGI Group's previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a yield of 0.40%. CGI Group's dividend payout ratio is presently 7.83%.

Analysts Set New Price Targets

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

CGI Group Company 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.