Alberta Investment Management Corp Has $87.50 Million Position in CGI Group, Inc. (NYSE:GIB)

Key Points

• Alberta Investment Management Corp has reduced its stake in CGI Group by 1.8%, now holding approximately 876,597 shares valued at about $87.5 million.
• Despite some institutions reducing their stakes, others like Fifth Third Bancorp and Creekmur Asset Management have significantly increased their holdings in CGI Group, reflecting mixed institutional interest.
• CGI Group recently declared an increased quarterly dividend of $0.1086, with an annualized yield of 0.5%, highlighting its ongoing commitment to returning value to shareholders.

Alberta Investment Management Corp decreased its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 876,597 shares of the technology company's stock after selling 16,464 shares during the quarter. CGI Group accounts for approximately 0.6% of Alberta Investment Management Corp's holdings, making the stock its 28th biggest holding. Alberta Investment Management Corp owned 0.39% of CGI Group worth $87,498,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its position in CGI Group by 239.5% in the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after acquiring an additional 182 shares in the last quarter. Versant Capital Management Inc increased its position in CGI Group by 371.7% in the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after acquiring an additional 829 shares in the last quarter. GeoWealth Management LLC increased its position in CGI Group by 80.4% in the 4th quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after acquiring an additional 579 shares in the last quarter. Creekmur Asset Management LLC boosted its stake in shares of CGI Group by 7,051.9% in the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock valued at $193,000 after purchasing an additional 1,904 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in shares of CGI Group in the 4th quarter valued at about $221,000. Institutional investors and hedge funds own 66.68% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday. UBS Group reduced their price objective on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday. Two investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $148.25.

CGI Group Stock Down 1.1%

Shares of NYSE GIB traded down $1.06 during midday trading on Friday, reaching $95.37. The company's stock had a trading volume of 324,095 shares, compared to its average volume of 296,347. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The stock has a market capitalization of $21.26 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.76 and a beta of 0.72. The stock has a 50 day simple moving average of $104.29 and a 200-day simple moving average of $106.39.

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

CGI Group Increases Dividend

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

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.