Achmea Investment Management B.V. Sells 46,747 Shares of CGI Group, Inc. (NYSE:GIB)

Achmea Investment Management B.V. lowered its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 58.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,194 shares of the technology company's stock after selling 46,747 shares during the period. Achmea Investment Management B.V.'s holdings in CGI Group were worth $3,313,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of CGI Group in the fourth quarter worth about $286,970,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in CGI Group by 1,190.6% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock worth $92,438,000 after acquiring an additional 780,370 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in CGI Group by 29.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after purchasing an additional 678,431 shares in the last quarter. Bank of Montreal Can boosted its holdings in CGI Group by 17.3% in the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after purchasing an additional 567,868 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of CGI Group by 27.5% during the 4th quarter. Geode Capital Management LLC now owns 1,272,840 shares of the technology company's stock valued at $140,266,000 after purchasing an additional 274,370 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada reiterated an "outperform" rating and issued a $192.00 price objective on shares of CGI Group in a research report on Wednesday, March 26th. Two equities research 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $156.75.

CGI Group Price Performance

GIB stock traded down $0.92 during midday trading on Wednesday, reaching $104.94. The company had a trading volume of 105,970 shares, compared to its average volume of 208,430. The firm has a 50-day moving average price of $106.69 and a 200-day moving average price of $107.65. The company has a market capitalization of $23.55 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.90 and a beta of 0.76. CGI Group, Inc. has a 1 year low of $92.85 and a 1 year high of $122.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 0.92.

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 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 analysts' expectations of $4.05 billion. During the same quarter last year, the firm posted $1.97 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. On average, research analysts anticipate 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. Stockholders of record on Friday, May 16th were given a dividend of $0.1086 per share. The ex-dividend date was Friday, May 16th. This is a positive change from CGI Group's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a dividend yield of 0.41%. CGI Group's dividend payout ratio is 7.83%.

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.