State of Wyoming Buys 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 boosted its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1,593.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in CGI Group by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company's stock valued at $802,338,000 after acquiring an additional 94,266 shares during the period. Mackenzie Financial Corp boosted its holdings in CGI Group by 0.9% during the 1st quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock valued at $474,702,000 after acquiring an additional 41,631 shares during the period. Fiera Capital Corp boosted its holdings in CGI Group by 2.1% during the 1st quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock valued at $437,770,000 after acquiring an additional 89,458 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in 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 valued at $202,470,000 after acquiring an additional 133,750 shares during the period. Finally, Groupe la Francaise lifted its holdings in CGI Group by 3.1% in the 1st quarter. Groupe la Francaise now owns 1,587,712 shares of the technology company's stock worth $157,596,000 after buying an additional 48,000 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Group Stock Down 0.2%

Shares of GIB traded down $0.18 on Wednesday, reaching $96.49. The stock had a trading volume of 232,258 shares, compared to its average volume of 332,553. The firm has a market capitalization of $21.51 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 1.79 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. The company has a 50-day simple moving average of $98.95 and a 200-day simple moving average of $103.25. CGI Group, Inc. has a 12-month low of $92.85 and a 12-month high of $122.79.

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 for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The company had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company earned $1.91 EPS. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts predict that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank Of Canada dropped their price objective on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. UBS Group dropped their price objective on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a report 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average 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.