Mediolanum International Funds Ltd Acquires Shares of 48,317 CGI Group, Inc. (NYSE:GIB)

Key Points

• Mediolanum International Funds Ltd acquired 48,317 shares of CGI Group, valued at approximately $4.75 million, marking a significant movement in institutional investments in the company.
• CGI Group's latest earnings report indicated an EPS of $1.48, missing analysts' expectations, while the company reported a 7.6% year-over-year revenue growth.
• The company announced a quarterly dividend increase to $0.1086 per share, raising its annual yield to 0.43% with a low payout ratio of 7.83%.

Mediolanum International Funds Ltd purchased a new stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,317 shares of the technology company's stock, valued at approximately $4,754,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in CGI Group by 239.5% during the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after acquiring an additional 182 shares during the period. Hoey Investments Inc. purchased a new stake in CGI Group during the fourth quarter valued at about $99,000. Versant Capital Management Inc boosted its position 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 buying an additional 829 shares during the period. GeoWealth Management LLC boosted its position in shares of CGI Group by 80.4% in the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after buying an additional 579 shares during the period. Finally, Creekmur Asset Management LLC boosted its position in shares of CGI Group by 7,051.9% in the first quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock worth $193,000 after buying an additional 1,904 shares during the period. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analyst Upgrades and Downgrades

GIB has been the subject of several analyst reports. Royal Bank Of Canada decreased their target price on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday. UBS Group decreased their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday. Two 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's stock. Based on data from MarketBeat.com, CGI Group has a consensus rating of "Buy" and an average price target of $148.25.

CGI Group Stock Down 0.2%

NYSE GIB traded down $0.20 on Thursday, hitting $96.87. 181,536 shares of the stock traded hands, compared to its average volume of 274,512. The stock has a 50-day moving average of $104.72 and a 200 day moving average of $106.56. CGI Group, Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The company has a market capitalization of $21.74 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. 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 (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the company earned $1.97 EPS. The company's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

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.