Pembroke Management LTD Raises Stock Position in CGI Group, Inc. $GIB

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 increased its position 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 filing 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 period. Pembroke Management LTD's holdings in CGI Group were worth $1,531,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GIB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings 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 worth $92,438,000 after acquiring an additional 780,370 shares during the last quarter. Bank of America Corp DE raised its stake in 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 valued at $80,558,000 after buying an additional 236,333 shares during the last quarter. Nuveen LLC purchased a new stake in CGI Group during the 1st quarter valued at $16,126,000. Massachusetts Financial Services Co. MA raised its stake 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 buying an additional 133,750 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in CGI Group by 90.4% during the 1st quarter. Bessemer Group Inc. now owns 240,856 shares of the technology company's stock valued at $24,068,000 after buying an additional 114,373 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Group Stock Performance

CGI Group stock traded up $0.03 during trading on Wednesday, reaching $96.70. The company had a trading volume of 64,019 shares, compared to its average volume of 283,858. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The firm's 50-day simple moving average is $99.09 and its 200 day simple moving average is $103.29. The firm has a market capitalization of $21.56 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.79 and a beta of 0.75. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its earnings results on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $4.01 billion. During the same period last year, the firm earned $1.91 EPS. CGI Group's revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that CGI Group, Inc. will post 5.79 earnings per share 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. Shareholders of record on Friday, August 15th will be paid a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, August 15th. This is a boost from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio (DPR) is currently 7.95%.

Analyst Ratings Changes

GIB has been the subject of a number of research reports. UBS Group decreased their target price on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research note 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 for the company in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target 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.