APG Asset Management N.V. Has $14.47 Million Stake in CGI Group, Inc. $GIB

Key Points

• APG Asset Management N.V. has reduced its stock position in CGI Group by 9.4% in the first quarter, now holding 156,545 shares valued at approximately $14.47 million.
• Several institutional investors increased their stakes in CGI Group, with Quantbot Technologies LP reporting a significant 1,396.4% increase.
• CGI Group recently announced a dividend payment of $0.1086 per share, effective September 19th, representing a slight adjustment from the previous quarter's dividend.

APG Asset Management N.V. reduced its position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,545 shares of the technology company's stock after selling 16,151 shares during the quarter. APG Asset Management N.V. owned 0.07% of CGI Group worth $14,465,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GIB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of CGI Group by 1,190.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock valued at $92,438,000 after acquiring an additional 780,370 shares during the period. Bank of America Corp DE lifted its stake in CGI Group by 47.2% in the 4th quarter. Bank of America Corp DE now owns 736,901 shares of the technology company's stock valued at $80,558,000 after purchasing an additional 236,333 shares during the last quarter. Nuveen LLC acquired a new stake in CGI Group in the 1st quarter valued at about $16,126,000. Massachusetts Financial Services Co. MA grew its holdings in CGI Group by 7.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company's stock worth $202,470,000 after purchasing an additional 133,750 shares during the period. Finally, Bessemer Group Inc. increased its position in CGI Group by 90.4% during the first quarter. Bessemer Group Inc. now owns 240,856 shares of the technology company's stock worth $24,068,000 after buying an additional 114,373 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

Analysts Set New Price Targets

GIB has been the subject of a number of recent analyst reports. Royal Bank Of Canada cut their price objective on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. UBS Group decreased their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $148.25.

CGI Group Stock Performance

Shares of NYSE:GIB traded up $0.71 during trading on Friday, reaching $97.13. 241,832 shares of the stock were exchanged, compared to its average volume of 348,891. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The stock has a 50-day moving average price of $99.45 and a 200-day moving average price of $103.63. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market cap of $21.65 billion, a PE ratio of 17.95, a PEG ratio of 1.79 and a beta of 0.72.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.01. The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $1.91 EPS. Research analysts expect 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. Stockholders of record on Friday, August 15th will be given a $0.1086 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a boost from CGI Group's previous quarterly dividend of $0.11. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.4%. CGI Group's dividend payout ratio (DPR) is presently 7.95%.

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.