DekaBank Deutsche Girozentrale Boosts Position in CGI Group, Inc. (NYSE:GIB)

DekaBank Deutsche Girozentrale grew its stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 932,423 shares of the technology company's stock after purchasing an additional 8,369 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.41% of CGI Group worth $90,713,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. EULAV Asset Management grew its position in CGI Group by 3.3% in the 1st quarter. EULAV Asset Management now owns 397,110 shares of the technology company's stock worth $39,643,000 after purchasing an additional 12,800 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of CGI Group by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company's stock worth $5,505,000 after buying an additional 500 shares during the last quarter. Cidel Asset Management Inc. grew its holdings in shares of CGI Group by 5.3% in the first quarter. Cidel Asset Management Inc. now owns 318,390 shares of the technology company's stock valued at $31,780,000 after acquiring an additional 16,043 shares in the last quarter. Vontobel Holding Ltd. grew its holdings 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 acquiring an additional 100 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of CGI Group by 10.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 72,197 shares of the technology company's stock valued at $7,209,000 after acquiring an additional 6,752 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada reissued an "outperform" rating and issued a $192.00 price objective on shares of CGI Group in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $156.75.

CGI Group Stock Performance

GIB traded down $1.77 during midday trading on Friday, reaching $100.60. The company had a trading volume of 251,939 shares, compared to its average volume of 210,830. CGI Group, Inc. has a 12-month low of $92.85 and a 12-month high of $122.79. The business has a 50-day moving average price of $106.52 and a two-hundred day moving average price of $107.43. The stock has a market cap of $22.57 billion, a PE ratio of 18.32, a P/E/G ratio of 1.91 and a beta of 0.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 1.27.

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

CGI Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 16th were given a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Friday, May 16th. This is a boost from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio is currently 7.83%.

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.