New South Capital Management Inc. Trims Position in CGI Group, Inc. (NYSE:GIB)

New South Capital Management Inc. decreased its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 582,338 shares of the technology company's stock after selling 26,293 shares during the period. CGI Group comprises 2.8% of New South Capital Management Inc.'s portfolio, making the stock its 10th largest holding. New South Capital Management Inc. owned about 0.26% of CGI Group worth $58,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake 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 valued at $26,000 after purchasing an additional 182 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of CGI Group in the 4th quarter worth approximately $83,000. Hoey Investments Inc. purchased a new position in shares of CGI Group in the fourth quarter worth approximately $99,000. Versant Capital Management Inc grew its position in CGI Group by 371.7% during the first 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 during the period. Finally, GeoWealth Management LLC increased its holdings in CGI Group by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after buying an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Group Stock Performance

Shares of NYSE:GIB traded down $0.63 during mid-day trading on Wednesday, reaching $105.23. 168,786 shares of the company traded hands, compared to its average volume of 208,640. The company's 50 day moving average price is $106.69 and its 200-day moving average price is $107.65. The firm has a market cap of $23.61 billion, a PE ratio of 19.17, a PEG ratio of 1.90 and a beta of 0.76. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 0.92.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. CGI Group's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.97 EPS. On average, equities analysts expect that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were issued a $0.1086 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.43 annualized dividend and a yield of 0.41%. This is an increase from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio is currently 7.83%.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada reiterated an "outperform" rating and set a $192.00 price target on shares of CGI Group in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $156.75.

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.