Korea Investment CORP Has $9.22 Million Holdings in CGI Group, Inc. $GIB

Key Points

• Korea Investment CORP has decreased its stake in CGI Group, Inc. by 19.5%, now holding 92,336 shares worth approximately $9.2 million.
• CGI Group recently reported earnings of $1.52 per share, surpassing analyst estimates, while its revenue increased by 11.4% year-over-year, despite a total revenue of $3 billion.
• The firm announced a quarterly dividend increase to $0.1086 per share, representing a yield of 0.5%, with the ex-dividend date set for August 15th.

Korea Investment CORP decreased its holdings in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 19.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,336 shares of the technology company's stock after selling 22,400 shares during the quarter. Korea Investment CORP's holdings in CGI Group were worth $9,217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GIB. Wells Fargo & Company MN lifted its holdings in shares of CGI Group by 10.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,514 shares of the technology company's stock valued at $931,000 after acquiring an additional 829 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of CGI Group during the 4th quarter valued at $925,000. GeoWealth Management LLC lifted its holdings in shares of CGI Group by 80.4% during the 4th quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after acquiring an additional 579 shares in the last quarter. First Trust Advisors LP lifted its holdings in CGI Group by 23.9% in the 4th quarter. First Trust Advisors LP now owns 95,532 shares of the technology company's stock worth $10,448,000 after buying an additional 18,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in CGI Group by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 681,619 shares of the technology company's stock worth $74,515,000 after buying an additional 41,074 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GIB. UBS Group cut their price objective on shares of 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 cut their price objective on shares of 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 given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, CGI Group currently has a consensus rating of "Buy" and an average price target of $148.25.

CGI Group Stock Down 1.2%

Shares of GIB traded down $1.1380 during midday trading on Monday, hitting $95.8220. The company had a trading volume of 318,339 shares, compared to its average volume of 284,875. The company's 50 day moving average price is $100.55 and its 200 day moving average price is $104.36. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.78 and a beta of 0.72. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. 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 (NYSE:GIB - Get Free Report) TSE: GIB.A last announced 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 net margin of 11.01% and a return on equity of 18.53%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities 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. Stockholders of record on Friday, August 15th will be issued a dividend of $0.1086 per share. This is an increase from CGI Group's previous quarterly dividend of $0.11. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, August 15th. CGI Group's dividend payout ratio (DPR) is presently 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.