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

Mn Services Vermogensbeheer B.V. cut its position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,633 shares of the technology company's stock after selling 5,800 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in CGI Group were worth $7,449,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in 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 period. Bank of Montreal Can boosted its holdings in CGI Group by 17.3% during the fourth 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 last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of CGI Group by 29.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after buying an additional 678,431 shares during the last quarter. Norges Bank purchased a new position in CGI Group in the fourth quarter worth $286,970,000. Finally, TD Asset Management Inc. boosted its holdings 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 worth $260,697,000 after buying an additional 81,440 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Group Price Performance

Shares of CGI Group stock traded down $0.49 on Wednesday, reaching $107.36. The stock had a trading volume of 182,558 shares, compared to its average volume of 205,748. CGI Group, Inc. has a 1 year low of $92.85 and a 1 year high of $122.79. The company has a market cap of $24.09 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 1.95 and a beta of 0.77. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. The business's 50 day moving average is $106.31 and its two-hundred day moving average is $108.20.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted 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 return on equity of 18.86% and a net margin of 11.53%. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter in the prior year, the company earned $1.97 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate 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, June 20th. Investors of record on Friday, May 16th will be given a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio (DPR) is 7.83%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $192.00 price target 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 given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, CGI Group currently has an average rating of "Buy" and an average price target of $156.75.

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.