MQS Management LLC Invests $608,000 in CGI Group, Inc. (NYSE:GIB)

MQS Management LLC bought a new stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,086 shares of the technology company's stock, valued at approximately $608,000.

Several other hedge funds also recently bought and sold shares of GIB. Norges Bank bought a new position in CGI Group in the 4th quarter valued at $286,970,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in CGI Group by 1,190.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock valued at $92,438,000 after acquiring an additional 780,370 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in 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 valued at $327,007,000 after acquiring an additional 678,431 shares during the last quarter. Bank of Montreal Can grew its position in CGI Group by 17.3% in the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after acquiring an additional 567,868 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in CGI Group by 27.5% in the 4th quarter. Geode Capital Management LLC now owns 1,272,840 shares of the technology company's stock valued at $140,266,000 after acquiring an additional 274,370 shares during the last quarter. Institutional investors own 66.68% of the company's stock.

CGI Group Stock Down 1.7%

Shares of GIB traded down $1.77 during midday trading on Friday, reaching $100.60. 251,939 shares of the stock were exchanged, compared to its average volume of 210,996. 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 company has a market capitalization of $22.57 billion, a P/E ratio of 18.32, a PEG ratio of 1.87 and a beta of 0.76. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The company's 50 day moving average is $106.43 and its two-hundred day moving average is $107.34.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The company had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $4.05 billion. CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.97 earnings per share. On average, sell-side analysts anticipate that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

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

Analyst Ratings Changes

Separately, Royal Bank Of Canada reissued 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 assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.