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Mn Services Vermogensbeheer B.V. Decreases Stake in CGI Group, Inc. (NYSE:GIB)

CGI logo with Computer and Technology background

Mn Services Vermogensbeheer B.V. lessened its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 7.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,633 shares of the technology company's stock after selling 5,800 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in CGI Group were worth $7,449,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GIB. Vanguard Group Inc. raised its stake in shares of CGI Group by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock worth $869,067,000 after purchasing an additional 128,285 shares during the last quarter. Bank of Montreal Can grew its stake in shares of CGI Group by 17.3% during the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after purchasing an additional 567,868 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of CGI Group by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after purchasing an additional 678,431 shares in the last quarter. Norges Bank acquired a new position in shares of CGI Group in the 4th quarter valued at $286,970,000. Finally, TD Asset Management Inc. lifted its stake in shares of CGI Group by 3.5% in the 4th quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock valued at $260,697,000 after purchasing an additional 81,440 shares during the period. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Price Performance

CGI Group stock traded down $2.05 during trading on Friday, reaching $105.25. The company had a trading volume of 330,298 shares, compared to its average volume of 206,244. The firm has a market capitalization of $23.62 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77. The firm's 50-day simple moving average is $106.60 and its 200 day simple moving average is $108.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 1.27. 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 announced its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the business earned $1.97 EPS. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate 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, June 20th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. This is a boost from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio is presently 7.83%.

Wall Street Analysts Forecast Growth

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

View Our Latest Stock Report on CGI Group

CGI Group Company Profile

(Free Report)

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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Institutional Ownership by Quarter for CGI Group (NYSE:GIB)

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