CGI Group, Inc. (NYSE:GIB) Stock Position Decreased by Achmea Investment Management B.V.

Achmea Investment Management B.V. cut its position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 58.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIB. Fifth Third Bancorp raised its stake in shares of CGI Group by 239.5% during 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of CGI Group in the 4th quarter valued at approximately $83,000. Hoey Investments Inc. bought a new position in shares of CGI Group in the 4th quarter valued at approximately $99,000. Versant Capital Management Inc raised its stake in shares of CGI Group by 371.7% in the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after acquiring an additional 829 shares in the last quarter. Finally, GeoWealth Management LLC raised its stake in shares of CGI Group by 80.4% in the 4th quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after acquiring an additional 579 shares in the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada reissued an "outperform" rating and issued a $192.00 price objective on shares of CGI Group in a research note 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. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $156.75.

CGI Group Stock Performance

GIB opened at $103.17 on Friday. The firm has a market capitalization of $23.15 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77. The stock's 50 day moving average price is $106.68 and its two-hundred day moving average price is $107.75. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. CGI Group, Inc. has a 12-month low of $92.85 and a 12-month high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released 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). The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $1.97 EPS. On average, equities analysts forecast that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 16th were issued a $0.1086 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a yield of 0.42%. This is a positive change from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding GIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.