Montrusco Bolton Investments Inc. Sells 24,879 Shares of CGI Group, Inc. (NYSE:GIB)

Montrusco Bolton Investments Inc. decreased its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 26.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,800 shares of the technology company's stock after selling 24,879 shares during the quarter. Montrusco Bolton Investments Inc.'s holdings in CGI Group were worth $6,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vontobel Holding Ltd. raised its stake in shares of CGI Group by 1.7% in the 1st quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company's stock valued at $613,000 after purchasing an additional 100 shares during the period. First Affirmative Financial Network grew its holdings in shares of CGI Group by 3.8% in the 1st quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company's stock valued at $290,000 after acquiring an additional 106 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of CGI Group by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock valued at $1,380,000 after acquiring an additional 115 shares in the last quarter. Manhattan West Asset Management LLC grew its holdings in shares of CGI Group by 0.5% in the 4th quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company's stock valued at $2,779,000 after acquiring an additional 126 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of CGI Group by 239.5% in the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Stock Down 1.0%

Shares of NYSE GIB traded down $0.97 during mid-day trading on Friday, hitting $99.45. The company had a trading volume of 294,465 shares, compared to its average volume of 212,807. The company has a market capitalization of $22.32 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. The firm has a 50-day simple moving average of $106.04 and a two-hundred day simple moving average of $107.11. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. CGI Group, Inc. has a one year low of $92.85 and a one year high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the business posted $1.97 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts expect that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were issued a dividend of $0.1086 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a yield of 0.44%. This is a boost from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio (DPR) is presently 7.83%.

Analyst Upgrades and Downgrades

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

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.