APG Asset Management N.V. Trims Stock Position 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. decreased its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,545 shares of the technology company's stock after selling 16,151 shares during the period. APG Asset Management N.V. owned 0.07% of CGI Group worth $14,465,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Fifth Third Bancorp grew its holdings in shares of CGI Group by 239.5% in the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after buying an additional 182 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of CGI Group by 292.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company's stock worth $100,000 after acquiring an additional 749 shares in the last quarter. Versant Capital Management Inc raised 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 purchasing an additional 829 shares during the period. Creekmur Asset Management LLC lifted its holdings in shares of CGI Group by 7,051.9% during the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock valued at $193,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of CGI Group in the 4th quarter valued at approximately $221,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GIB shares. UBS Group lowered their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Royal Bank Of Canada reduced their price target 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $148.25.

CGI Group Price Performance

GIB stock traded up $0.63 during mid-day trading on Friday, reaching $97.05. The company's stock had a trading volume of 172,358 shares, compared to its average volume of 284,765. 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 company's 50 day moving average is $99.61 and its two-hundred day moving average is $103.92. The stock has a market cap of $21.63 billion, a PE ratio of 17.94, a P/E/G ratio of 1.77 and a beta of 0.72. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.51 by $0.01. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The business had revenue of $3 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the company posted $1.91 EPS. The company's quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts expect that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be issued a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, August 15th. This is an increase from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio (DPR) is currently 7.95%.

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.