Magnetar Financial LLC Has $1.76 Million Stock Holdings in CGI Group, Inc. $GIB

Key Points

• Magnetar Financial LLC significantly increased its holdings in CGI Group, Inc. by 633.1% during the first quarter, now owning a total of 17,594 shares valued at $1,756,000.
• CGI Group recently announced a quarterly dividend of $0.1086 per share, reflecting a positive adjustment from its previous quarterly dividend of $0.11.
• Wall Street analysts generally have a favorable outlook on CGI Group, with an average rating of "Buy" and a price target of $148.25.

Magnetar Financial LLC lifted its position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 633.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,594 shares of the technology company's stock after purchasing an additional 15,194 shares during the period. Magnetar Financial LLC's holdings in CGI Group were worth $1,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GIB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in CGI Group by 1,190.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock valued at $92,438,000 after buying an additional 780,370 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of CGI Group by 35.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 956,460 shares of the technology company's stock worth $95,499,000 after purchasing an additional 251,242 shares in the last quarter. Bank of America Corp DE grew its position in shares of CGI Group by 47.2% during the 4th quarter. Bank of America Corp DE now owns 736,901 shares of the technology company's stock worth $80,558,000 after purchasing an additional 236,333 shares in the last quarter. Nuveen LLC acquired a new position in shares of CGI Group during the 1st quarter worth approximately $16,126,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of CGI Group by 7.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company's stock worth $202,470,000 after purchasing an additional 133,750 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Trading Down 0.2%

NYSE GIB traded down $0.18 on Wednesday, hitting $96.49. The company's stock had a trading volume of 232,258 shares, compared to its average volume of 284,934. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. CGI Group, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The company's 50-day moving average is $99.09 and its 200 day moving average is $103.29. The firm has a market cap of $21.51 billion, a PE ratio of 17.84, a PEG ratio of 1.79 and a beta of 0.75.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the prior year, the company posted $1.91 EPS. The company's revenue was up 11.4% on a year-over-year basis. As a group, analysts predict that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GIB. UBS Group decreased their target price on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Royal Bank Of Canada decreased their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, CGI Group currently has an average rating of "Buy" and a consensus target price of $148.25.

CGI Group 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.