Canoe Financial LP Boosts Stock Holdings in CGI Group, Inc. (NYSE:GIB)

Canoe Financial LP increased its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 904,153 shares of the technology company's stock after buying an additional 40,892 shares during the quarter. Canoe Financial LP owned 0.40% of CGI Group worth $90,274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIB. First Affirmative Financial Network raised its stake in shares of CGI Group by 3.8% during the first quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company's stock valued at $290,000 after acquiring an additional 106 shares during the last quarter. Metis Global Partners LLC increased its holdings in CGI Group by 1.0% during the 4th quarter. Metis Global Partners LLC now owns 10,534 shares of the technology company's stock valued at $1,153,000 after purchasing an additional 108 shares during the period. Sequoia Financial Advisors LLC raised its position in CGI Group by 0.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock valued at $3,412,000 after purchasing an additional 111 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in CGI Group by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock worth $1,380,000 after buying an additional 115 shares during the period. Finally, Manhattan West Asset Management LLC grew 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 worth $2,779,000 after buying an additional 126 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

CGI Group Stock Down 0.5%

GIB traded down $0.56 during trading on Tuesday, reaching $105.51. The stock had a trading volume of 257,530 shares, compared to its average volume of 206,979. 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 $23.67 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.91 and a beta of 0.78. The stock's 50 day moving average is $106.72 and its two-hundred day moving average is $107.99. CGI Group, Inc. has a one year low of $92.85 and a one 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 (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the business earned $1.97 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect 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 paid a $0.1086 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.43 annualized dividend and a dividend yield of 0.41%. This is an increase from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio is presently 7.83%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $192.00 price target on shares of CGI Group in a research note on Wednesday, March 26th. Two investment 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 stock. Based on data from MarketBeat, the company currently 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.