Banco Bilbao Vizcaya Argentaria S.A. Cuts Stake in CGI Group, Inc. $GIB

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has reduced its stake in CGI Group by 48.1%, bringing its holdings down to 14,552 shares worth approximately $1.45 million.
• Other institutional investors have significantly adjusted their positions, with GAMMA Investing LLC increasing its stake by 9,881.5% during the same quarter.
• CGI Group recently announced a quarterly dividend increase to $0.1086 per share, reflecting an annualized yield of 0.4% and a payout ratio of 7.95%.

Banco Bilbao Vizcaya Argentaria S.A. lessened its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 48.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,552 shares of the technology company's stock after selling 13,511 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in CGI Group were worth $1,453,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of CGI Group by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company's stock worth $802,338,000 after purchasing an additional 94,266 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of CGI Group by 0.9% during the first quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock worth $474,702,000 after purchasing an additional 41,631 shares during the last quarter. Fiera Capital Corp boosted its holdings 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 purchasing an additional 89,458 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 purchasing an additional 133,750 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of CGI Group by 0.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 932,423 shares of the technology company's stock worth $90,713,000 after purchasing an additional 8,369 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Trading Down 0.0%

Shares of GIB traded down $0.03 during trading hours on Thursday, hitting $96.46. The stock had a trading volume of 79,216 shares, compared to its average volume of 283,797. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. The firm has a market cap of $21.50 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.75 and a beta of 0.72. The company's fifty day simple moving average is $99.82 and its 200 day simple moving average is $104.08. 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 issued its 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 for the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $1.91 EPS. Equities research analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be given a $0.1086 dividend. This represents a $0.43 annualized dividend and a yield of 0.5%. This is a boost from CGI Group's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, August 15th. CGI Group's dividend payout ratio is 7.95%.

Wall Street Analyst Weigh In

GIB has been the topic of several analyst reports. UBS Group decreased their price objective on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada decreased their price objective on CGI Group from $185.00 to $175.00 and set an "outperform" 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $148.25.

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.