Gulf International Bank UK Ltd Raises Stake in CGI Group, Inc. $GIB

Key Points

• Gulf International Bank UK Ltd increased its stake in CGI Group by 2,793.8% in the first quarter, purchasing an additional 11,231 shares, bringing its total holdings to 11,633 shares valued at approximately $1,161,000.
• CGI Group recently declared a quarterly dividend of $0.1086 per share, marking a slight increase from the previous dividend of $0.11, with a dividend yield of 0.5%.
• Despite a mixed performance in the market with an average target price of $148.25, analysts maintain a "Moderate Buy" rating for CGI Group, and the company reported earnings of $1.52 per share, slightly above expectations.

Gulf International Bank UK Ltd increased its stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2,793.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,633 shares of the technology company's stock after acquiring an additional 11,231 shares during the quarter. Gulf International Bank UK Ltd's holdings in CGI Group were worth $1,161,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of CGI Group by 9,881.5% in the first quarter. GAMMA Investing LLC now owns 2,695 shares of the technology company's stock worth $269,000 after acquiring an additional 2,668 shares during the period. Fifth Third Bancorp lifted its stake in shares of CGI Group by 239.5% in the first 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. Vontobel Holding Ltd. lifted its stake in shares of CGI Group by 1.7% in the first quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company's stock worth $613,000 after acquiring an additional 100 shares during the period. QRG Capital Management Inc. acquired a new position in shares of CGI Group in the first quarter worth approximately $494,000. Finally, Principal Financial Group Inc. lifted its stake in shares of CGI Group by 0.9% in the first quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company's stock worth $5,505,000 after acquiring an additional 500 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Stock Down 0.5%

Shares of NYSE GIB traded down $0.47 during midday trading on Wednesday, hitting $94.67. 156,020 shares of the stock traded hands, compared to its average volume of 282,707. The company has a market cap of $21.10 billion, a PE ratio of 17.50, a P/E/G ratio of 1.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. CGI Group, Inc. has a one year low of $92.85 and a one year high of $122.79. The business has a 50 day moving average price of $101.36 and a two-hundred day moving average price of $104.95.

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

CGI Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group lowered their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Royal Bank Of Canada lowered their target price on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. One 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 company's stock. According to data from MarketBeat, CGI Group presently has an average rating of "Buy" and a consensus target price 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.