C WorldWide Group Holding A S Buys 6,388 Shares of CGI Group, Inc. (NYSE:GIB)

C WorldWide Group Holding A S raised its holdings in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 56.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 17,692 shares of the technology company's stock after purchasing an additional 6,388 shares during the period. C WorldWide Group Holding A S's holdings in CGI Group were worth $1,766,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of CGI Group in the 4th quarter valued at $925,000. Commonwealth Equity Services LLC grew its holdings in shares of CGI Group by 3.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,515 shares of the technology company's stock valued at $1,477,000 after purchasing an additional 464 shares during the period. Generali Asset Management SPA SGR purchased a new stake in shares of CGI Group in the fourth quarter valued at about $3,081,000. Magnetar Financial LLC purchased a new position in CGI Group during the fourth quarter worth about $262,000. Finally, Summit Global Investments purchased a new position in CGI Group during the fourth quarter worth about $463,000. Hedge funds and other institutional investors own 66.68% of the company's stock.

Wall Street Analysts Forecast Growth

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

CGI Group Price Performance

GIB stock traded down $0.04 during trading on Friday, hitting $100.39. The company had a trading volume of 26,994 shares, compared to its average volume of 211,774. The company has a fifty day moving average price of $106.04 and a two-hundred day moving average price of $107.11. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The company has a market cap of $22.53 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 0.76.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its 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). CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the firm earned $1.97 EPS. The company's revenue was up 7.6% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 16th were paid a $0.1086 dividend. 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 annualized dividend and a yield of 0.43%. CGI Group's dividend payout ratio is currently 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.

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