CGI Group, Inc. (NYSE:GIB) Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in CGI Group by 1.1%, selling 6,032 shares during the first quarter, leaving it with approximately 0.24% ownership worth $54.9 million.
• CGI Group recently announced a dividend increase to $0.1086 per share, set to be paid on September 19th, reflecting an annualized yield of 0.5%.
• The company achieved earnings of $1.52 per share for the last quarter, exceeding expectations and marking an 11.4% revenue increase compared to the same period last year.

Charles Schwab Investment Management Inc. cut its stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 550,247 shares of the technology company's stock after selling 6,032 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.24% of CGI Group worth $54,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of CGI Group by 9,881.5% during the 1st quarter. GAMMA Investing LLC now owns 2,695 shares of the technology company's stock worth $269,000 after acquiring an additional 2,668 shares in the last quarter. Fifth Third Bancorp raised its stake in CGI Group by 239.5% during the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after buying an additional 182 shares during the last quarter. Vontobel Holding Ltd. raised its stake in CGI Group by 1.7% during the first quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company's stock worth $613,000 after buying an additional 100 shares during the last quarter. QRG Capital Management Inc. bought a new position in CGI Group during the first quarter worth $494,000. Finally, Principal Financial Group Inc. raised its stake in CGI Group by 0.9% during the first quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company's stock worth $5,505,000 after buying an additional 500 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GIB has been the subject of a number of analyst reports. UBS Group lowered their target price on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Royal Bank Of Canada lowered their price objective on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CGI Group has an average rating of "Moderate Buy" and a consensus target price of $148.25.

CGI Group Trading Up 0.1%

NYSE GIB traded up $0.07 on Friday, hitting $93.91. 336,935 shares of the stock were exchanged, compared to its average volume of 369,783. The firm has a market capitalization of $20.93 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.73 and a beta of 0.72. CGI Group, Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. The stock has a fifty day moving average price of $101.91 and a two-hundred day moving average price of $105.19.

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

CGI Group Increases Dividend

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

CGI Group 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.