CGI Group, Inc. $GIB Stake Lifted by Groupe la Francaise

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 position in 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 3.3% of Groupe la Francaise's holdings, making the stock its 6th largest position. Groupe la Francaise owned approximately 0.70% of CGI Group worth $157,596,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp raised its position in 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 acquiring an additional 182 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position 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 valued at $100,000 after acquiring an additional 749 shares in the last quarter. Versant Capital Management Inc raised its position 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 valued at $105,000 after acquiring an additional 829 shares in the last quarter. GeoWealth Management LLC raised its position in CGI Group by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after acquiring an additional 579 shares in the last quarter. Finally, Creekmur Asset Management LLC raised its position 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 valued at $193,000 after acquiring an additional 1,904 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Price Performance

Shares of NYSE:GIB traded up $0.27 during trading on Thursday, reaching $96.75. The stock had a trading volume of 133,157 shares, compared to its average volume of 284,122. 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 business has a fifty day moving average price of $99.82 and a 200-day moving average price of $104.08. The stock has a market cap of $21.57 billion, a PE ratio of 17.89, a PEG ratio of 1.75 and a beta of 0.72. 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 released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share 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 company had revenue of $3 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts forecast that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be paid a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a yield of 0.4%. 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. CGI Group's dividend payout ratio is currently 7.95%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group reduced 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. Royal Bank Of Canada reduced their price target on CGI Group from $185.00 to $175.00 and set an "outperform" 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 assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $148.25.

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.