Swiss National Bank Lowers Stock Holdings in CGI Group, Inc. (NYSE:GIB)

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 lowered its stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of CGI Group by 9,881.5% in the first quarter. GAMMA Investing LLC now owns 2,695 shares of the technology company's stock worth $269,000 after buying an additional 2,668 shares during the period. Fifth Third Bancorp grew its stake 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 worth $26,000 after purchasing an additional 182 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of CGI Group by 1.7% in the first quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company's stock worth $613,000 after purchasing an additional 100 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of CGI Group in the first quarter worth about $494,000. Finally, Principal Financial Group Inc. grew its stake in shares of CGI Group by 0.9% in the first quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company's stock worth $5,505,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Group Stock Up 0.0%

CGI Group stock traded up $0.04 during trading hours on Friday, hitting $93.88. 59,134 shares of the stock traded hands, compared to its average volume of 281,565. The firm's 50-day moving average price is $102.19 and its two-hundred day moving average price is $105.49. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a market cap of $20.93 billion, a PE ratio of 17.35, a PEG ratio of 1.76 and a beta of 0.72. CGI Group, Inc. has a one year low of $92.85 and a one year high of $122.79.

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

CGI Group Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank Of Canada cut their target price on CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. UBS Group cut their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, CGI Group has a consensus rating of "Moderate Buy" and an average target price of $148.25.

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.