CGI Group, Inc. $GIB Shares Bought by Pembroke Management LTD

Key Points

• Pembroke Management LTD significantly increased its stake in CGI Group by 98.9% during the first quarter, now holding 15,333 shares valued at $1.53 million.
• CGI Group reported a quarterly earnings per share (EPS) of $1.52, slightly beating analyst estimates, with revenues of $3 billion during the quarter.
• The company declared a quarterly dividend of $0.1086 per share, reflecting an increase from its previous dividend, with an annualized yield of 0.5%.

Pembroke Management LTD raised its stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 98.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,333 shares of the technology company's stock after acquiring an additional 7,624 shares during the quarter. Pembroke Management LTD's holdings in CGI Group were worth $1,531,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of CGI Group by 9,881.5% in the first quarter. GAMMA Investing LLC now owns 2,695 shares of the technology company's stock worth $269,000 after acquiring an additional 2,668 shares during the last quarter. Fifth Third Bancorp grew its position in shares of CGI Group by 239.5% in the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after purchasing an additional 182 shares during the period. 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. QRG Capital Management Inc. purchased a new stake in shares of CGI Group in the first quarter valued at $494,000. Finally, Principal Financial Group Inc. grew its position in shares of CGI Group by 0.9% in the first quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company's stock valued at $5,505,000 after purchasing an additional 500 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Price Performance

GIB stock opened at $96.50 on Friday. The stock has a 50-day moving average price of $99.61 and a two-hundred day moving average price of $103.92. CGI Group, Inc. has a 12-month low of $92.85 and a 12-month high of $122.79. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a market cap of $21.51 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.77 and a beta of 0.72.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) 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 firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts predict that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders 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 yield of 0.5%. 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. CGI Group's dividend payout ratio (DPR) is presently 7.95%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GIB. UBS Group lowered their price objective on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Royal Bank Of Canada lowered their price objective on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $148.25.

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.

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