CGI Group, Inc. (NYSE:GIB) Shares Acquired by Canoe Financial LP

Canoe Financial LP lifted its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 4.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 904,153 shares of the technology company's stock after buying an additional 40,892 shares during the quarter. Canoe Financial LP owned approximately 0.40% of CGI Group worth $90,274,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in CGI Group by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock worth $869,067,000 after acquiring an additional 128,285 shares in the last quarter. Bank of Montreal Can lifted its position in shares of CGI Group by 17.3% during the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after purchasing an additional 567,868 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of CGI Group by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after purchasing an additional 678,431 shares in the last quarter. Norges Bank purchased a new position in CGI Group in the fourth quarter valued at $286,970,000. Finally, TD Asset Management Inc. raised its stake in CGI Group by 3.5% in the fourth quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock valued at $260,697,000 after buying an additional 81,440 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CGI Group Stock Down 1.9%

Shares of CGI Group stock traded down $2.05 during trading hours on Friday, hitting $105.25. The company had a trading volume of 363,191 shares, compared to its average volume of 206,657. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 0.92. The company's 50-day moving average is $106.67 and its two-hundred day moving average is $108.07. The company has a market cap of $23.62 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78. CGI Group, Inc. has a twelve month low of $92.85 and a twelve month high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate 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 was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 EPS. Analysts anticipate that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were given a $0.1086 dividend. The ex-dividend date was Friday, May 16th. This is a boost from CGI Group's previous quarterly dividend of $0.10. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. CGI Group's dividend payout ratio 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.