Haven Global Partners LLC Purchases 32,264 Shares of CGI Group, Inc. (NYSE:GIB)

Haven Global Partners LLC lifted its holdings in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 32.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,203 shares of the technology company's stock after purchasing an additional 32,264 shares during the period. CGI Group comprises approximately 13.6% of Haven Global Partners LLC's holdings, making the stock its 5th biggest holding. Haven Global Partners LLC owned 0.06% of CGI Group worth $12,996,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GIB. Fifth Third Bancorp grew its stake in CGI Group by 239.5% in the 1st 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. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in CGI Group in the 4th quarter worth approximately $83,000. Hoey Investments Inc. purchased a new stake in CGI Group in the 4th quarter worth approximately $99,000. Versant Capital Management Inc grew its stake in CGI Group by 371.7% in the 1st 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. Finally, GeoWealth Management LLC grew its stake in CGI Group by 80.4% in the 4th 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. 66.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $192.00 target price on shares of CGI Group in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, CGI Group currently has a consensus rating of "Buy" and an average target price of $156.75.

CGI Group Trading Down 0.9%

Shares of GIB traded down $0.92 during mid-day trading on Friday, reaching $103.17. The company had a trading volume of 360,807 shares, compared to its average volume of 208,677. The stock has a market cap of $23.15 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.77. The firm has a fifty day simple moving average of $106.73 and a 200-day simple moving average of $107.87. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.97 EPS. On average, sell-side analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 16th were issued a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, May 16th. This is a positive change from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio (DPR) is 7.83%.

CGI Group 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.