Natixis Advisors LLC Sells 4,777 Shares of CGI Group, Inc. (NYSE:GIB)

Key Points

• Natixis Advisors LLC reduced its position in CGI Group by 21.3%, selling 4,777 shares and leaving it with 17,645 shares valued at approximately $1.76 million.
• CGI Group reported $1.52 earnings per share for the last quarter, slightly beating estimates, but its revenue of $3 billion fell short of analysts' expectations of $4.01 billion.
• The company declared a quarterly dividend of $0.1086 per share, an increase from its previous dividend, with a scheduled payment date of September 19th.

Natixis Advisors LLC lessened its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 21.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,645 shares of the technology company's stock after selling 4,777 shares during the period. Natixis Advisors LLC's holdings in CGI Group were worth $1,762,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in CGI Group during the 1st quarter valued at about $703,000. Fiera Capital Corp raised its holdings in CGI Group by 2.1% in the first quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock worth $437,770,000 after buying an additional 89,458 shares during the last quarter. KFA Private Wealth Group LLC raised its holdings in CGI Group by 1.2% in the first quarter. KFA Private Wealth Group LLC now owns 12,500 shares of the technology company's stock worth $1,248,000 after buying an additional 150 shares during the last quarter. Mackenzie Financial Corp raised its holdings in CGI Group by 0.9% in the first quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock worth $474,702,000 after buying an additional 41,631 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CGI Group by 2.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,635 shares of the technology company's stock worth $4,555,000 after buying an additional 1,230 shares during the last quarter. Institutional investors own 66.68% of the company's stock.

CGI Group Stock Performance

Shares of GIB stock traded down $1.16 during trading hours on Tuesday, reaching $93.98. The company had a trading volume of 448,097 shares, compared to its average volume of 279,697. The business has a fifty day moving average price of $102.95 and a 200-day moving average price of $105.77. CGI Group, Inc. has a one year low of $92.85 and a one year high of $122.79. The firm has a market cap of $20.95 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.01. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.91 earnings per share. Sell-side analysts predict that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be given a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a yield of 0.5%. This is a positive change from CGI Group's previous quarterly dividend of $0.11. The ex-dividend date is Friday, August 15th. CGI Group's dividend payout ratio (DPR) is presently 7.95%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group decreased their target price on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Royal Bank Of Canada reduced their price target on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CGI Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.25.

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.