BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stake in CGI Group, Inc. $GIB

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in CGI Group, Inc. by 5.6%, now owning 269,526 shares valued at approximately $26.9 million.
• CGI Group recently announced a quarterly dividend of $0.1086, slightly higher than the previous dividend, representing an annualized payout of $0.43 with a yield of 0.5%.
• Analysts have forecasted an average price target of $148.25 for CGI Group, with varying ratings including "moderate buy" from multiple research firms.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 269,526 shares of the technology company's stock after selling 15,936 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.12% of CGI Group worth $26,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GIB. Fifth Third Bancorp raised its holdings in shares of CGI Group by 239.5% during the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after buying an additional 182 shares during the period. Caitong International Asset Management Co. Ltd grew its position in CGI Group by 292.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company's stock valued at $100,000 after acquiring an additional 749 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of CGI Group by 371.7% during the first 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 during the period. GeoWealth Management LLC raised its stake in shares of CGI Group by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after purchasing an additional 579 shares during the period. Finally, Creekmur Asset Management LLC lifted its position in shares of CGI Group by 7,051.9% during the first quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock worth $193,000 after purchasing an additional 1,904 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Group Stock Performance

Shares of GIB opened at $93.91 on Monday. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.73 and a beta of 0.72. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The business's 50 day moving average is $101.91 and its two-hundred day moving average is $105.19. 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 results 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 net margin of 11.01% and a return on equity of 18.53%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm earned $1.91 earnings per share. The business's revenue was up 11.4% compared to the same quarter last year. Analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be paid a $0.1086 dividend. This is a boost from CGI Group's previous quarterly dividend of $0.11. The ex-dividend date is Friday, August 15th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. CGI Group's dividend payout ratio (DPR) is currently 7.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada lowered their price target on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. UBS Group decreased their price objective on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.

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