Dynamic Technology Lab Private Ltd Purchases Shares of 6,465 CGI Group, Inc. $GIB

Key Points

• Dynamic Technology Lab Private Ltd invested $645,000 in CGI Group, acquiring 6,465 shares during the first quarter.
• CGI Group recently announced a quarterly dividend increase to $0.1086, with a yield of 0.5% and a payout ratio of 7.95%.
• Analysts have mixed reviews on CGI Group, with a consensus target price of $148.25 and one investment analyst rating it as a Strong Buy.

Dynamic Technology Lab Private Ltd bought a new position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,465 shares of the technology company's stock, valued at approximately $645,000.

Other large investors have also recently bought and sold shares of the company. SVB Wealth LLC acquired a new stake in CGI Group during the 1st quarter worth about $25,000. Fifth Third Bancorp grew its holdings in 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 acquiring an additional 182 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in CGI Group by 292.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company's stock worth $100,000 after acquiring an additional 749 shares during the period. Versant Capital Management Inc grew its holdings in CGI Group by 371.7% during the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock worth $105,000 after acquiring an additional 829 shares during the period. Finally, Creekmur Asset Management LLC grew its holdings in CGI Group by 7,051.9% during the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock worth $193,000 after acquiring an additional 1,904 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GIB shares. Royal Bank Of Canada decreased their price target on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. UBS Group reduced their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, CGI Group has an average rating of "Buy" and an average target price of $148.25.

CGI Group Stock Down 0.9%

Shares of GIB traded down $0.83 during trading hours on Friday, hitting $93.43. The stock had a trading volume of 199,505 shares, compared to its average volume of 289,177. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $97.54 and a 200-day simple moving average of $102.21. The firm has a market capitalization of $20.83 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.73 and a beta of 0.75. CGI Group, Inc. has a 1-year low of $92.21 and a 1-year high of $122.79.

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

CGI Group Increases Dividend

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

About CGI Group

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.