CGI Group, Inc. (NYSE:GIB) Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. lifted its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 90.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 240,856 shares of the technology company's stock after buying an additional 114,373 shares during the period. Bessemer Group Inc. owned approximately 0.11% of CGI Group worth $24,068,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GIB. First Affirmative Financial Network increased its position in CGI Group by 3.8% during the 1st quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company's stock valued at $290,000 after buying an additional 106 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of CGI Group by 1.0% during the fourth quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company's stock worth $1,153,000 after acquiring an additional 108 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of CGI Group by 0.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock valued at $3,412,000 after acquiring an additional 111 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of CGI Group by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock valued at $1,380,000 after purchasing an additional 115 shares during the last quarter. Finally, Manhattan West Asset Management LLC raised its position in shares of CGI Group by 0.5% in the 4th quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company's stock valued at $2,779,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada reissued an "outperform" rating and set a $192.00 target price on shares of CGI Group in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $156.75.

CGI Group Stock Performance

Shares of NYSE:GIB traded up $1.60 during trading on Monday, hitting $104.93. The stock had a trading volume of 237,403 shares, compared to its average volume of 208,478. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. CGI Group, Inc. has a 12-month low of $92.85 and a 12-month high of $122.79. The stock has a market capitalization of $23.55 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.87 and a beta of 0.78. The stock has a 50-day simple moving average of $106.69 and a two-hundred day simple moving average of $107.66.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. CGI Group's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. On average, equities research analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 16th were given a dividend of $0.1086 per share. This is a positive change from CGI Group's previous quarterly dividend of $0.10. The ex-dividend date was Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. CGI Group's dividend payout ratio (DPR) is 7.83%.

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.