Louisbourg Investments Inc. Sells 3,151 Shares of CGI Group, Inc. (NYSE:GIB)

Louisbourg Investments Inc. decreased its position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 15.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,476 shares of the technology company's stock after selling 3,151 shares during the quarter. Louisbourg Investments Inc.'s holdings in CGI Group were worth $1,746,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of CGI Group by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock valued at $869,067,000 after acquiring an additional 128,285 shares in the last quarter. Bank of Montreal Can lifted 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 worth $419,976,000 after purchasing an additional 567,868 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings 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. Norges Bank bought a new position in CGI Group in the 4th quarter worth approximately $286,970,000. Finally, TD Asset Management Inc. grew its holdings in CGI Group by 3.5% during the 4th quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock valued at $260,697,000 after buying an additional 81,440 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

CGI Group Price Performance

CGI Group stock traded down $2.05 during midday trading on Friday, reaching $105.25. 330,298 shares of the stock traded hands, compared to its average volume of 273,977. The stock has a market cap of $23.62 billion, a P/E ratio of 19.17, a PEG ratio of 1.94 and a beta of 0.77. The stock's fifty day moving average is $106.60 and its 200-day moving average is $108.15. 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 posted its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be paid a $0.1086 dividend. This is a boost from CGI Group's previous quarterly dividend of $0.10. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, May 16th. CGI Group's dividend payout ratio (DPR) is presently 7.83%.

Analyst Ratings Changes

Separately, Royal Bank Of Canada reissued an "outperform" rating and issued a $192.00 target price on shares of CGI Group in a report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price 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.