Cidel Asset Management Inc. Boosts Stock Holdings in CGI Group, Inc. (NYSE:GIB)

Cidel Asset Management Inc. increased its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,390 shares of the technology company's stock after purchasing an additional 16,043 shares during the quarter. CGI Group makes up 2.1% of Cidel Asset Management Inc.'s holdings, making the stock its 13th largest position. Cidel Asset Management Inc. owned 0.14% of CGI Group worth $31,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of CGI Group by 9,881.5% during the first quarter. GAMMA Investing LLC now owns 2,695 shares of the technology company's stock valued at $269,000 after buying an additional 2,668 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of CGI Group by 239.5% during the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after acquiring an additional 182 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in CGI Group during the first quarter valued at approximately $494,000. Bank of New York Mellon Corp boosted its stake in CGI Group by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company's stock valued at $31,665,000 after acquiring an additional 1,409 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in CGI Group by 64.4% in the fourth quarter. Northern Trust Corp now owns 194,481 shares of the technology company's stock valued at $21,261,000 after acquiring an additional 76,175 shares in the last quarter. Institutional investors own 66.68% of the company's stock.

CGI Group Stock Up 0.9%

Shares of GIB traded up $0.93 during mid-day trading on Thursday, hitting $106.19. 78,979 shares of the company traded hands, compared to its average volume of 208,122. The company has a market capitalization of $23.83 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.92 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 business has a 50 day moving average of $106.71 and a 200 day moving average of $107.63. CGI Group, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) 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 business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period last year, the business earned $1.97 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 16th were paid a $0.1086 dividend. This is an increase from CGI Group's previous quarterly dividend of $0.10. The ex-dividend date was Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. CGI Group's dividend payout ratio is presently 7.83%.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $192.00 price target 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 issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $156.75.

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.