CGI Group, Inc. (NYSE:GIB) Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank reduced its stake in CGI Group, Inc. by 2.2%, selling 12,800 shares and holding approximately 578,400 shares valued at $57.78 million.
• A few institutional investors significantly increased their positions in CGI Group, with Creekmur Asset Management raising its holdings by 7,051.9%.
• CGI Group announced a quarterly dividend increase to $0.1086 per share, reflecting an annualized yield of 0.5%, and demonstrates a payout ratio of 7.95%.

Swiss National Bank cut its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 578,400 shares of the technology company's stock after selling 12,800 shares during the period. Swiss National Bank owned approximately 0.26% of CGI Group worth $57,784,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GIB. Fifth Third Bancorp grew its holdings 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 valued at $26,000 after purchasing an additional 182 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of CGI Group by 371.7% in the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after purchasing an additional 829 shares in the last quarter. GeoWealth Management LLC grew its holdings 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 purchasing an additional 579 shares in the last quarter. Creekmur Asset Management LLC grew its holdings in shares of CGI Group by 7,051.9% in the first 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 in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of CGI Group in the fourth quarter valued at approximately $221,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Royal Bank Of Canada lowered their price target on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Two equities research 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $148.25.

CGI Group Trading Up 0.7%

NYSE GIB opened at $95.84 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The stock has a market capitalization of $21.36 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.76 and a beta of 0.72. The firm has a 50 day moving average of $103.20 and a two-hundred day moving average of $105.89.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.01. The business had revenue of $3 billion during 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 company's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 EPS. As a group, research analysts expect that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be given a dividend of $0.1086 per share. The ex-dividend date is Friday, August 15th. This represents a $0.43 annualized dividend and a dividend yield of 0.5%. This is a boost from CGI Group's previous quarterly dividend of $0.11. CGI Group's payout ratio is presently 7.95%.

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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