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

DekaBank Deutsche Girozentrale raised its stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 0.9% in the first quarter, according to the company in its most recent disclosure 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.

A number of other hedge funds have also recently bought and sold shares of GIB. Fifth Third Bancorp grew its stake in CGI Group by 239.5% in the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after purchasing an additional 182 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of CGI Group in the fourth quarter valued at approximately $83,000. Hoey Investments Inc. acquired a new stake in shares of CGI Group in the fourth quarter valued at approximately $99,000. Versant Capital Management Inc lifted its position in shares of CGI Group by 371.7% in 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 last quarter. Finally, GeoWealth Management LLC lifted its position in shares of CGI Group by 80.4% in 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. 66.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $192.00 price objective on shares of CGI Group in a research 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 company. According to data from MarketBeat.com, CGI Group has an average rating of "Buy" and a consensus target price of $156.75.

CGI Group Price Performance

Shares of CGI Group stock traded down $0.41 during trading on Thursday, reaching $102.38. 248,083 shares of the company's stock were exchanged, compared to its average volume of 210,666. 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, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The company has a market cap of $22.97 billion, a P/E ratio of 18.65, a PEG ratio of 1.91 and a beta of 0.76. The firm's 50-day moving average price is $106.55 and its 200 day moving average price is $107.48.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share 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 firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the firm earned $1.97 EPS. The company's revenue was up 7.6% on a year-over-year basis. As a group, research 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 disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 16th were paid a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.42%. This is an increase from CGI Group's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, May 16th. CGI Group's payout ratio is currently 7.83%.

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.