Fiera Capital Corp Has $437.77 Million Stock Holdings in CGI Group, Inc. (NYSE:GIB)

Key Points

• Fiera Capital Corp increased its holdings in CGI Group by 2.1%, owning approximately $437.77 million worth of shares, which makes it the 19th largest holding in their portfolio.
• CGI Group recently reported earnings per share of $1.48, slightly missing analysts' expectations, and had a 7.6% year-over-year revenue increase to $2.80 billion.
• The company announced a quarterly dividend increase from $0.10 to $0.1086 per share, with a current yield of 0.44% and a payout ratio of 7.83%.

Fiera Capital Corp raised its position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,380,743 shares of the technology company's stock after acquiring an additional 89,458 shares during the period. CGI Group makes up 1.6% of Fiera Capital Corp's portfolio, making the stock its 19th biggest holding. Fiera Capital Corp owned approximately 1.93% of CGI Group worth $437,770,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of CGI Group by 1,190.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock valued at $92,438,000 after buying an additional 780,370 shares during the period. Bank of Montreal Can lifted its stake in shares of CGI Group by 17.3% in the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after buying an additional 567,868 shares during the period. Geode Capital Management LLC lifted its stake in shares of CGI Group by 27.5% in the fourth quarter. Geode Capital Management LLC now owns 1,272,840 shares of the technology company's stock valued at $140,266,000 after buying an additional 274,370 shares during the period. Bank of America Corp DE lifted its stake in shares of CGI Group by 47.2% in the fourth quarter. Bank of America Corp DE now owns 736,901 shares of the technology company's stock valued at $80,558,000 after buying an additional 236,333 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of CGI Group by 18.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,032,579 shares of the technology company's stock valued at $112,913,000 after buying an additional 161,821 shares during the period. 66.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GIB shares. UBS Group reduced 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. Royal Bank Of Canada reduced their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $148.25.

CGI Group Price Performance

NYSE GIB traded down $0.77 during trading on Friday, reaching $95.67. 176,449 shares of the company traded hands, compared to its average volume of 275,925. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.80 and a beta of 0.76. The stock's 50 day moving average price is $104.51 and its two-hundred day moving average price is $106.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 1.27. CGI Group, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.01. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.77%. The company's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $1.91 earnings per share. As a group, analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from CGI Group's previous quarterly dividend of $0.11. This represents a $0.43 annualized dividend and a dividend yield of 0.5%. 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.