Bessemer Group Inc. Has $24.07 Million Stock Holdings in CGI Group, Inc. (NYSE:GIB)

Bessemer Group Inc. increased its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 90.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,856 shares of the technology company's stock after purchasing an additional 114,373 shares during the quarter. Bessemer Group Inc. owned 0.11% of CGI Group worth $24,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GIB. Fifth Third Bancorp raised its holdings in shares of CGI Group by 239.5% during the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after purchasing an additional 182 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in CGI Group in the 4th quarter valued at about $83,000. Hoey Investments Inc. bought a new position in shares of CGI Group during the 4th quarter valued at about $99,000. Versant Capital Management Inc boosted its position in shares of CGI Group by 371.7% during the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after purchasing an additional 829 shares in the last quarter. Finally, GeoWealth Management LLC boosted its holdings in shares of CGI Group by 80.4% in the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after buying an additional 579 shares during the period. 66.68% of the stock is currently owned by institutional investors.

CGI Group Price Performance

Shares of CGI Group stock traded down $0.92 during midday trading on Friday, reaching $103.17. The company had a trading volume of 360,807 shares, compared to its average volume of 208,436. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 1.88 and a beta of 0.77. The stock has a fifty day simple moving average of $106.73 and a 200 day simple moving average of $107.87. CGI Group, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79.

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

CGI Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were issued a $0.1086 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.42%. This is a positive change from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio (DPR) is currently 7.83%.

Wall Street Analysts Forecast Growth

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

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.