CGI Group, Inc. $GIB Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in CGI Group by 0.4%, selling 4,161 shares in the first quarter, retaining a total of 1,028,418 shares valued at approximately $102.5 million.
• CGI Group recently declared a quarterly dividend of $0.1086 per share, reflecting a slight increase from the previous dividend, with a dividend yield of 0.5%.
• CGI Group's recent earnings report showed an EPS of $1.52, slightly exceeding the estimated $1.51, while revenue of $3 billion fell short of expectations of $4.01 billion.

Hsbc Holdings PLC lessened its stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,028,418 shares of the technology company's stock after selling 4,161 shares during the quarter. Hsbc Holdings PLC owned about 0.45% of CGI Group worth $102,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of CGI Group by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company's stock worth $802,338,000 after acquiring an additional 94,266 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of CGI Group by 0.9% during the first quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock worth $474,702,000 after acquiring an additional 41,631 shares during the last quarter. Fiera Capital Corp increased its position in shares of CGI Group by 2.1% during the first quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock worth $437,770,000 after acquiring an additional 89,458 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of CGI Group by 7.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company's stock worth $202,470,000 after acquiring an additional 133,750 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of CGI Group by 0.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 932,423 shares of the technology company's stock worth $90,713,000 after acquiring an additional 8,369 shares during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Group Stock Performance

Shares of GIB stock traded down $0.9410 on Monday, hitting $96.0190. 225,978 shares of the stock traded hands, compared to its average volume of 284,181. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94. The company has a market capitalization of $21.40 billion, a PE ratio of 17.76, a PEG ratio of 1.78 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. The company's fifty day moving average is $100.55 and its 200 day moving average is $104.36.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its earnings results on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. CGI Group's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts predict that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on GIB shares. UBS Group dropped their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their target price on CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus 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.