6,086 Shares in CGI Group, Inc. (NYSE:GIB) Acquired by MQS Management LLC

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

Several other large investors also recently added to or reduced their stakes in GIB. Vanguard Group Inc. boosted its stake in CGI Group by 1.6% in the 4th 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 stake 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 worth $419,976,000 after purchasing an additional 567,868 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake 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 worth $327,007,000 after purchasing an additional 678,431 shares during the period. Norges Bank bought a new position in CGI Group in the 4th quarter worth about $286,970,000. Finally, TD Asset Management Inc. boosted its stake in 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 purchasing an additional 81,440 shares during the period. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada restated an "outperform" rating and issued a $192.00 target price on shares of CGI Group in a research note 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $156.75.

CGI Group Price Performance

Shares of GIB traded up $0.82 during trading hours on Wednesday, reaching $101.02. 186,837 shares of the company's stock traded hands, compared to its average volume of 211,701. The stock has a market cap of $22.67 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76. 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 firm's 50 day simple moving average is $106.26 and its 200-day simple moving average is $107.21. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. 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. Stockholders of record on Friday, May 16th were given a dividend of $0.1086 per share. 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. This is an increase from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio (DPR) is 7.83%.

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.