Groupe la Francaise Acquires 48,000 Shares of CGI Group, Inc. $GIB

Key Points

• Groupe la Francaise expanded its ownership in CGI Group by 48,000 shares, increasing its total holdings by 3.1% to over 1.58 million shares, which now account for about 3.3% of its investment portfolio.
• CGI Group announced a quarterly dividend of $0.1086 per share, representing an annualized yield of 0.4%, with the payout scheduled for September 19th.
• Despite a miss on revenue estimates for the last quarter, CGI Group reported an EPS of $1.52, slightly surpassing the analysts' expected EPS of $1.51.

Groupe la Francaise grew its holdings in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,587,712 shares of the technology company's stock after purchasing an additional 48,000 shares during the period. CGI Group makes up approximately 3.3% of Groupe la Francaise's investment portfolio, making the stock its 6th largest holding. Groupe la Francaise owned 0.70% of CGI Group worth $157,596,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of CGI Group by 239.5% during the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after purchasing an additional 182 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in CGI Group by 292.6% during the first 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 first 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. GeoWealth Management LLC grew its holdings in CGI Group by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after acquiring an additional 579 shares during the period. Finally, Creekmur Asset Management LLC grew its holdings in CGI Group by 7,051.9% during the first 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 owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GIB. Royal Bank Of Canada lowered their target price on 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 decreased their price target on 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 analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $148.25.

CGI Group Trading Up 2.3%

Shares of NYSE GIB opened at $96.9780 on Friday. CGI Group, Inc. has a one year low of $92.85 and a one year high of $122.79. The firm has a market capitalization of $21.62 billion, a PE ratio of 17.93, a PEG ratio of 1.74 and a beta of 0.72. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $100.55 and a two-hundred day moving average price of $104.57.

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, topping analysts' consensus estimates of $1.51 by $0.01. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.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 company posted $1.91 EPS. The business's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, analysts predict that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The company also recently declared 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 is Friday, August 15th. This represents a $0.43 annualized dividend and a dividend yield of 0.4%. This is a positive change from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio 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.

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