DekaBank Deutsche Girozentrale Grows Holdings in CGI Group, Inc. (NYSE:GIB)

DekaBank Deutsche Girozentrale raised its stake in shares of 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 and Exchange Commission (SEC). The fund owned 932,423 shares of the technology company's stock after acquiring an additional 8,369 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.41% of CGI Group worth $90,713,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GIB. Fifth Third Bancorp increased its position in shares of CGI Group by 239.5% during the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after acquiring an additional 182 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI Group in the fourth quarter valued at approximately $83,000. Hoey Investments Inc. acquired a new position in shares of CGI Group in the fourth quarter valued at approximately $99,000. Versant Capital Management Inc grew its holdings 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 purchasing an additional 829 shares in the last quarter. Finally, GeoWealth Management LLC grew its holdings 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 purchasing an additional 579 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

CGI Group Stock Down 1.7%

NYSE GIB traded down $1.77 on Friday, hitting $100.60. 251,939 shares of the stock were exchanged, compared to its average volume of 210,996. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The company has a market cap of $22.57 billion, a PE ratio of 18.32, a PEG ratio of 1.87 and a beta of 0.76. The company has a 50-day moving average price of $106.43 and a 200-day moving average price of $107.34.

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 the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The company's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.97 EPS. Sell-side analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, May 16th. This is an increase from CGI Group's previous quarterly dividend of $0.10. CGI Group's 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.