Dynamic Technology Lab Private Ltd Takes Position in 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 acquired a new stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,465 shares of the technology company's stock, valued at approximately $645,000.

Other hedge funds also recently modified their holdings of the company. Millennium Management LLC lifted its stake in CGI Group by 786.2% in the 1st quarter. Millennium Management LLC now owns 81,470 shares of the technology company's stock valued at $8,141,000 after purchasing an additional 72,277 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of CGI Group during the first quarter worth $347,000. Amundi grew its stake in shares of CGI Group by 5.2% during the first quarter. Amundi now owns 358,628 shares of the technology company's stock worth $35,985,000 after buying an additional 17,740 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its holdings in shares of CGI Group by 22.5% during the first quarter. Federation des caisses Desjardins du Quebec now owns 4,933,984 shares of the technology company's stock worth $491,725,000 after purchasing an additional 907,876 shares during the period. Finally, PDT Partners LLC acquired a new position in shares of CGI Group during the first quarter worth $610,000. Institutional investors own 66.68% of the company's stock.

CGI Group Trading Down 0.5%

Shares of NYSE:GIB traded down $0.46 on Monday, hitting $92.86. The company had a trading volume of 72,255 shares, compared to its average volume of 283,660. CGI Group, Inc. has a 1 year low of $92.21 and a 1 year high of $122.79. The firm has a market capitalization of $20.70 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 1.71 and a beta of 0.75. The firm's 50-day simple moving average is $97.54 and its two-hundred day simple moving average is $102.09. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued 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 company had revenue of $3 billion during the quarter, compared to analysts' expectations of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. CGI Group's revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $1.91 EPS. Equities analysts anticipate that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. UBS Group reduced their price objective on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, CGI Group currently has an average rating of "Buy" and an average price target of $148.25.

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.