Magnetar Financial LLC Acquires 15,194 Shares of 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 grew its stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 633.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,594 shares of the technology company's stock after buying an additional 15,194 shares during the quarter. Magnetar Financial LLC's holdings in CGI Group were worth $1,756,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vontobel Holding Ltd. grew its position in shares of CGI Group by 1.7% in the first quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company's stock valued at $613,000 after purchasing an additional 100 shares during the period. Townsquare Capital LLC lifted its stake in shares of CGI Group by 3.7% in the first quarter. Townsquare Capital LLC now owns 2,870 shares of the technology company's stock valued at $287,000 after buying an additional 102 shares during the period. First Affirmative Financial Network increased its holdings 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 worth $290,000 after buying an additional 106 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in CGI Group by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock valued at $1,380,000 after acquiring an additional 115 shares during the last quarter. Finally, Callan Family Office LLC increased its stake in CGI Group by 4.4% in the 1st quarter. Callan Family Office LLC now owns 3,284 shares of the technology company's stock valued at $328,000 after buying an additional 139 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Group Stock Up 0.9%

NYSE GIB traded up $0.83 on Friday, reaching $96.12. The company had a trading volume of 60,549 shares, compared to its average volume of 284,793. The firm has a 50-day moving average of $98.78 and a 200-day moving average of $103.07. CGI Group, Inc. has a 1 year low of $92.85 and a 1 year high of $122.79. The firm has a market capitalization of $21.43 billion, a PE ratio of 17.80, a P/E/G ratio of 1.77 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.01. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 EPS. On average, equities research analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be paid a $0.1086 dividend. 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%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group cut 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 lowered their price objective on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, CGI Group currently has an average rating of "Buy" and an average price target of $148.25.

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.