54,309 Shares in CGI Group, Inc. (NYSE:GIB) Bought by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. has acquired a $5.42 million stake in CGI Group, purchasing 54,309 shares in the first quarter.
• CGI Group has reported Q2 earnings of $1.52 EPS, exceeding estimates, but revenue was below expectations at $3 billion compared to the consensus of $4.01 billion.
• The company announced a quarterly dividend of $0.1086 per share, reflecting a slight increase from the previous dividend of $0.11.

ASR Vermogensbeheer N.V. bought a new position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 54,309 shares of the technology company's stock, valued at approximately $5,421,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of CGI Group by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company's stock worth $802,338,000 after acquiring an additional 94,266 shares during the period. Mackenzie Financial Corp increased its position in CGI Group by 0.9% in the 1st quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock valued at $474,702,000 after acquiring an additional 41,631 shares during the period. Fiera Capital Corp raised its position in shares of CGI Group by 2.1% during the first quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock worth $437,770,000 after acquiring an additional 89,458 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of 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 acquiring an additional 133,750 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of CGI Group by 18.6% during the fourth quarter. Hsbc Holdings PLC now owns 1,032,579 shares of the technology company's stock worth $112,913,000 after acquiring an additional 161,821 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

Analyst Upgrades and Downgrades

GIB has been the subject of a number of research reports. UBS Group reduced their price target on shares of 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 dropped their price target on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CGI Group presently has an average rating of "Moderate Buy" and a consensus target price of $148.25.

CGI Group Stock Performance

Shares of NYSE GIB traded down $0.26 during trading on Tuesday, reaching $94.89. 81,961 shares of the stock traded hands, compared to its average volume of 277,265. The stock has a market capitalization of $21.15 billion, a P/E ratio of 17.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94. The company has a 50-day moving average of $102.95 and a 200-day moving average of $105.77. CGI Group, Inc. has a 52-week low of $92.85 and a 52-week high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.01 billion. During the same quarter in the prior year, the firm posted $1.91 EPS. The firm's quarterly revenue was up 11.4% on a year-over-year basis. Analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

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

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.