CGI Group, Inc. (NYSE:GIB) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,197 shares of the technology company's stock after acquiring an additional 6,752 shares during the period. Allspring Global Investments Holdings LLC's holdings in CGI Group were worth $7,209,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. First Affirmative Financial Network raised its position in CGI Group by 3.8% in the first quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company's stock worth $290,000 after acquiring an additional 106 shares during the period. Sequoia Financial Advisors LLC raised its position in CGI Group by 0.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock worth $3,412,000 after acquiring an additional 111 shares during the period. Ameriprise Financial Inc. raised its position in CGI Group by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock worth $1,380,000 after acquiring an additional 115 shares during the period. Manhattan West Asset Management LLC increased its stake in shares of CGI Group by 0.5% in the fourth quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company's stock worth $2,779,000 after purchasing an additional 126 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of CGI Group by 239.5% in the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after purchasing an additional 182 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors.

CGI Group Trading Up 0.9%

Shares of CGI Group stock traded up $0.93 during trading on Friday, hitting $106.19. The stock had a trading volume of 96,405 shares, compared to its average volume of 208,587. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The firm's fifty day simple moving average is $106.73 and its 200-day simple moving average is $107.58. The stock has a market cap of $23.83 billion, a PE ratio of 19.34, a PEG ratio of 1.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 0.92.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced 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 net margin of 11.53% and a return on equity of 18.86%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the business earned $1.97 EPS. The company's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts expect that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reissued an "outperform" rating and issued a $192.00 price objective on shares of CGI Group in a research note on Wednesday, March 26th. Two investment 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $156.75.

About CGI Group

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.