Modern Wealth Management LLC Acquires New Holdings in CGI Group, Inc. $GIB

Key Points

• Modern Wealth Management LLC acquired 3,876 shares of CGI Group, Inc. valued at approximately $387,000, marking their new stake in the company.
• Several institutional investors, including British Columbia Investment Management Corp and Goldman Sachs, significantly increased their stakes in CGI Group, with changes in ownership contributing to 66.68% institutional ownership of the stock.
• CGI Group recently declared a quarterly dividend of $0.1086 per share, reflecting a slight increase from the previous dividend, with a yield of 0.5%.

Modern Wealth Management LLC bought a new position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,876 shares of the technology company's stock, valued at approximately $387,000.

A number of other large investors have also recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its position in shares of CGI Group by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock valued at $1,380,000 after purchasing an additional 115 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in CGI Group during the fourth quarter valued at approximately $1,734,000. Focus Partners Wealth lifted its position in CGI Group by 48.1% during the fourth quarter. Focus Partners Wealth now owns 4,163 shares of the technology company's stock valued at $455,000 after purchasing an additional 1,352 shares during the last quarter. Gotham Asset Management LLC lifted its position in CGI Group by 20.9% during the fourth quarter. Gotham Asset Management LLC now owns 6,672 shares of the technology company's stock valued at $729,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Man Group plc lifted its position in CGI Group by 229.7% during the fourth quarter. Man Group plc now owns 88,171 shares of the technology company's stock valued at $9,642,000 after purchasing an additional 61,427 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Group Stock Up 0.4%

Shares of GIB stock traded up $0.36 on Friday, hitting $92.62. The stock had a trading volume of 376,253 shares, compared to its average volume of 270,296. The business has a 50 day moving average price of $96.55 and a 200 day moving average price of $101.75. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. CGI Group, Inc. has a one year low of $92.07 and a one year high of $122.79. The company has a market cap of $20.65 billion, a PE ratio of 17.12, a P/E/G ratio of 1.70 and a beta of 0.75.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company posted $1.91 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio is 7.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GIB shares. Royal Bank Of Canada lowered their price objective on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. UBS Group reduced their target price on shares of CGI Group from $112.00 to $105.00 and set a "neutral" 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $148.25.

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.