Intact Investment Management Inc. Has $879,000 Position in CGI Group, Inc. (NYSE:GIB)

Intact Investment Management Inc. reduced its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 76.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,800 shares of the technology company's stock after selling 28,805 shares during the quarter. Intact Investment Management Inc.'s holdings in CGI Group were worth $879,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Woodmont Investment Counsel LLC acquired a new stake in shares of CGI Group during the 1st quarter valued at $2,188,000. Canoe Financial LP boosted its position in CGI Group by 4.7% during the first quarter. Canoe Financial LP now owns 904,153 shares of the technology company's stock valued at $90,274,000 after purchasing an additional 40,892 shares during the last quarter. QRG Capital Management Inc. purchased a new position in CGI Group in the first quarter valued at about $494,000. Ritholtz Wealth Management increased its position in CGI Group by 9.2% in the 1st quarter. Ritholtz Wealth Management now owns 22,794 shares of the technology company's stock worth $2,276,000 after purchasing an additional 1,920 shares during the last quarter. Finally, 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 worth $26,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Stock Up 0.5%

Shares of GIB traded up $0.50 during trading hours on Thursday, hitting $104.00. 289,341 shares of the company were exchanged, compared to its average volume of 207,826. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 1.27. The company has a market cap of $23.34 billion, a PE ratio of 18.94, a PEG ratio of 1.88 and a beta of 0.77. The firm's 50 day moving average is $106.73 and its 200-day moving average is $107.87. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share 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 company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the firm posted $1.97 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast 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 paid a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.42%. This is a boost from CGI Group's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, May 16th. CGI Group's payout ratio is presently 7.83%.

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 report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock 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.