EULAV Asset Management Increases Stock Position in CGI Group, Inc. (NYSE:GIB)

EULAV Asset Management raised its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 397,110 shares of the technology company's stock after purchasing an additional 12,800 shares during the quarter. EULAV Asset Management owned about 0.18% of CGI Group worth $39,643,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its stake 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 worth $26,000 after acquiring an additional 182 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI Group during the fourth quarter worth about $83,000. Hoey Investments Inc. acquired a new position in shares of CGI Group during the fourth quarter worth about $99,000. Versant Capital Management Inc increased its stake in shares of CGI Group by 371.7% during the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock worth $105,000 after acquiring an additional 829 shares during the period. Finally, GeoWealth Management LLC increased its stake in shares of CGI Group by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after acquiring an additional 579 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada reiterated an "outperform" rating and set a $192.00 price target on shares of CGI Group in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $156.75.

CGI Group Price Performance

GIB stock traded down $0.41 during trading on Thursday, reaching $102.38. 248,083 shares of the company were exchanged, compared to its average volume of 210,927. The company has a market cap of $22.97 billion, a P/E ratio of 18.65, a PEG ratio of 1.92 and a beta of 0.76. CGI Group, Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The stock's 50 day moving average price is $106.55 and its 200 day moving average price is $107.48. 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 (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 EPS 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 company had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period in the prior year, the firm posted $1.97 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 16th were issued a $0.1086 dividend. This represents a $0.43 annualized dividend and a dividend yield of 0.42%. 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 dividend payout ratio is 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.