ASR Vermogensbeheer N.V. Takes $5.42 Million Position in CGI Group, Inc. (NYSE:GIB)

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. acquired a new stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 54,309 shares of the technology company's stock, valued at approximately $5,421,000.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of CGI Group by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company's stock valued at $802,338,000 after acquiring an additional 94,266 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of 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 in the last quarter. Fiera Capital Corp increased its stake in CGI Group by 2.1% during the 1st quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock valued at $437,770,000 after purchasing an additional 89,458 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in CGI Group by 7.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company's stock valued at $202,470,000 after purchasing an additional 133,750 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in CGI Group by 18.6% during the 4th quarter. Hsbc Holdings PLC now owns 1,032,579 shares of the technology company's stock valued at $112,913,000 after purchasing an additional 161,821 shares in the last quarter. Institutional investors own 66.68% of the company's stock.

CGI Group Stock Performance

Shares of GIB stock opened at $95.14 on Friday. The firm has a market capitalization of $21.21 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The firm has a fifty day simple moving average of $103.43 and a two-hundred day simple moving average of $106.07. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted 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. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.91 EPS. 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. Shareholders 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 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 presently 7.95%.

Wall Street Analysts Forecast Growth

GIB has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Royal Bank Of Canada decreased their price target on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Two research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.25.

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.

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