CGI Group, Inc. (NYSE:GIB) Shares Sold by Kathmere Capital Management LLC

Kathmere Capital Management LLC cut its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 39.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,007 shares of the technology company's stock after selling 4,587 shares during the quarter. Kathmere Capital Management LLC's holdings in CGI Group were worth $700,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in shares of CGI Group by 129.6% in the 1st quarter. Cerity Partners LLC now owns 26,230 shares of the technology company's stock valued at $2,619,000 after buying an additional 14,806 shares during the period. DekaBank Deutsche Girozentrale increased its position in CGI Group by 0.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 932,423 shares of the technology company's stock worth $90,713,000 after buying an additional 8,369 shares in the last quarter. EULAV Asset Management increased its position in CGI Group by 3.3% during the first quarter. EULAV Asset Management now owns 397,110 shares of the technology company's stock worth $39,643,000 after buying an additional 12,800 shares in the last quarter. Principal Financial Group Inc. increased its position in CGI Group by 0.9% during the first quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company's stock worth $5,505,000 after buying an additional 500 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its holdings in shares of CGI Group by 5.3% during the first quarter. Cidel Asset Management Inc. now owns 318,390 shares of the technology company's stock worth $31,780,000 after purchasing an additional 16,043 shares during the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Price Performance

Shares of CGI Group stock opened at $100.60 on Friday. The business's fifty day moving average price is $106.43 and its 200 day moving average price is $107.34. The stock has a market capitalization of $22.57 billion, a P/E ratio of 18.32, a PEG ratio of 1.87 and a beta of 0.76. CGI Group, Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (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 business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period in the previous year, the firm posted $1.97 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that CGI Group, Inc. will post 5.79 earnings per share for the current 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 issued a $0.1086 dividend. This is a positive change from CGI Group's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend 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%.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada restated an "outperform" rating and set a $192.00 price objective 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 given a strong buy rating to the stock. According to data from MarketBeat, CGI Group currently has an average rating of "Buy" and an average price target 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.

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