DekaBank Deutsche Girozentrale Acquires 8,369 Shares of CGI Group, Inc. (NYSE:GIB)

DekaBank Deutsche Girozentrale increased its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 932,423 shares of the technology company's stock after acquiring an additional 8,369 shares during the period. DekaBank Deutsche Girozentrale owned about 0.41% of CGI Group worth $90,713,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GIB. Vontobel Holding Ltd. raised its stake in shares of CGI Group by 1.7% in the 1st 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. First Affirmative Financial Network increased its stake in shares of CGI Group by 3.8% in the first quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company's stock worth $290,000 after purchasing an additional 106 shares during the period. Sequoia Financial Advisors LLC increased its position in CGI Group by 0.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock worth $3,412,000 after buying an additional 111 shares during the period. Ameriprise Financial Inc. increased its position in CGI Group by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock worth $1,380,000 after buying an additional 115 shares during the period. Finally, Manhattan West Asset Management LLC increased its position in CGI Group by 0.5% during the fourth quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company's stock worth $2,779,000 after acquiring an additional 126 shares during the period. 66.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CGI Group Trading Down 0.7%

CGI Group stock traded down $0.72 during mid-day trading on Wednesday, hitting $102.73. 305,921 shares of the company's stock were exchanged, compared to its average volume of 210,339. The firm has a market capitalization of $23.05 billion, a P/E ratio of 18.71, a PEG ratio of 1.94 and a beta of 0.76. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company's 50 day simple moving average is $106.62 and its 200-day simple moving average is $107.51. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79.

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 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the firm earned $1.97 EPS. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were given a dividend of $0.1086 per share. The ex-dividend date of this dividend was Friday, May 16th. This is an increase from CGI Group's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.42%. CGI Group's dividend payout ratio (DPR) is currently 7.83%.

About CGI Group

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.