State of Wyoming Acquires 3,680 Shares of CGI Group, Inc. $GIB

Key Points

• The State of Wyoming increased its stake in CGI Group, Inc. by an impressive 1,593.1%, holding a total of 3,911 shares valued at $390,000.
• CGI Group reported a quarterly earnings per share of $1.52, exceeding analysts' expectations, despite revenue of $3 billion falling short of projections.
• The company has announced an increased quarterly dividend of $0.1086 per share, reflecting a positive change from its previous dividend amount.

State of Wyoming increased its holdings in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1,593.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,911 shares of the technology company's stock after acquiring an additional 3,680 shares during the quarter. State of Wyoming's holdings in CGI Group were worth $390,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of CGI Group during the 1st quarter worth approximately $25,000. Fifth Third Bancorp increased its holdings in shares of CGI Group by 239.5% during the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after acquiring an additional 182 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in CGI Group by 292.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company's stock valued at $100,000 after buying an additional 749 shares in the last quarter. Versant Capital Management Inc grew its holdings in CGI Group by 371.7% in the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after buying an additional 829 shares in the last quarter. Finally, Creekmur Asset Management LLC grew its holdings in CGI Group by 7,051.9% in the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock valued at $193,000 after buying an additional 1,904 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on GIB shares. UBS Group decreased their price objective on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada decreased their price objective on CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $148.25.

CGI Group Price Performance

Shares of NYSE:GIB traded up $1.33 during trading on Friday, reaching $96.62. 183,203 shares of the company traded hands, compared to its average volume of 329,046. The company's 50 day moving average is $98.65 and its two-hundred day moving average is $102.80. The firm has a market capitalization of $21.54 billion, a PE ratio of 17.86, a PEG ratio of 1.78 and a beta of 0.75. 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 52 week low of $92.85 and a 52 week high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. The firm had revenue of $3 billion during 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 company's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.91 EPS. As a group, sell-side analysts predict that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, August 15th. This is a positive change from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio is currently 7.95%.

CGI Group Company 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.