Lynch & Associates IN Invests $596,000 in CGI Group, Inc. $GIB

Key Points

• Lynch & Associates IN has invested $596,000 in shares of CGI Group, acquiring 5,688 shares during the 2nd quarter.
• CGI Group recently reported earnings of $1.52 per share, surpassing the consensus estimate by $0.01, with revenue of $3 billion for the quarter.
• The company announced an increase in its quarterly dividend to $0.1086, reflecting a 0.5% annualized dividend yield.

Lynch & Associates IN bought a new position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,688 shares of the technology company's stock, valued at approximately $596,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of CGI Group during the 1st quarter worth about $25,000. Fifth Third Bancorp grew its stake in CGI Group by 239.5% during the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after buying an additional 182 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in CGI Group by 292.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company's stock worth $100,000 after buying an additional 749 shares during the last quarter. Versant Capital Management Inc grew its stake in CGI Group by 371.7% during the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock worth $105,000 after buying an additional 829 shares during the last quarter. Finally, Creekmur Asset Management LLC grew its stake in CGI Group by 7,051.9% during the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock worth $193,000 after buying an additional 1,904 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GIB shares. Royal Bank Of Canada dropped their price target on CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. UBS Group dropped their price target on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research note 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 given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $148.25.

CGI Group Trading Down 2.9%

Shares of GIB stock opened at $90.82 on Wednesday. The business's 50 day moving average is $96.21 and its two-hundred day moving average is $101.56. CGI Group, Inc. has a twelve month low of $90.67 and a twelve month high of $122.79. The company has a market capitalization of $20.25 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.72 and a beta of 0.75. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

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 for the quarter, beating the consensus estimate 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 the consensus estimate of $4.01 billion. During the same period last year, the business posted $1.91 EPS. The company's revenue was up 11.4% on a year-over-year basis. Equities analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

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

CGI Group Company 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.

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