Envestnet Asset Management Inc. Sells 3,752 Shares of CGI Group, Inc. (NYSE:GIB)

Envestnet Asset Management Inc. trimmed its holdings in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 6.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,216 shares of the technology company's stock after selling 3,752 shares during the period. Envestnet Asset Management Inc.'s holdings in CGI Group were worth $5,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fifth Third Bancorp boosted its stake in CGI Group by 239.5% in the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after purchasing an additional 182 shares during the period. Hoey Investments Inc. bought a new position in CGI Group during the fourth quarter worth $99,000. Versant Capital Management Inc boosted its holdings in CGI Group by 371.7% in 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 in the last quarter. GeoWealth Management LLC lifted its stake in shares of CGI Group by 80.4% in the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after buying an additional 579 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in CGI Group in the 4th quarter valued at about $221,000. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Stock Down 0.4%

Shares of GIB stock traded down $0.45 during trading hours on Friday, reaching $101.06. The company had a trading volume of 203,952 shares, compared to its average volume of 239,190. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 0.92. The business has a fifty day simple moving average of $105.26 and a 200-day simple moving average of $106.75. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76.

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 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The business's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.97 EPS. On average, research analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

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

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.