CGI Group, Inc. $GIB Holdings Boosted by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in CGI Group, Inc. by 13.6% during the first quarter, now holding approximately $30.26 million worth of shares.
• CGI Group recently reported earnings of $1.52 EPS for the last quarter, exceeding the analyst estimate of $1.51, with revenue of $3 billion.
• The company announced a dividend increase to $0.1086 per share, which will be paid on September 19th, up from the previous $0.11 per share.

Northwest & Ethical Investments L.P. increased its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 13.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 302,938 shares of the technology company's stock after purchasing an additional 36,286 shares during the period. CGI Group accounts for about 0.8% of Northwest & Ethical Investments L.P.'s investment portfolio, making the stock its 25th biggest holding. Northwest & Ethical Investments L.P. owned about 0.13% of CGI Group worth $30,261,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GIB. Wells Fargo & Company MN grew its stake in CGI Group by 10.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,514 shares of the technology company's stock worth $931,000 after purchasing an additional 829 shares in the last quarter. Raymond James Financial Inc. acquired a new position in CGI Group in the fourth quarter worth about $925,000. Townsquare Capital LLC grew its stake in CGI Group by 13.3% in the fourth quarter. Townsquare Capital LLC now owns 2,768 shares of the technology company's stock worth $303,000 after purchasing an additional 325 shares in the last quarter. GeoWealth Management LLC grew its stake in CGI Group by 80.4% in the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after purchasing an additional 579 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in CGI Group by 23.9% in the fourth quarter. First Trust Advisors LP now owns 95,532 shares of the technology company's stock worth $10,448,000 after acquiring an additional 18,421 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 NYSE GIB traded down $0.03 during mid-day trading on Thursday, reaching $94.75. 269,061 shares of the company traded hands, compared to its average volume of 284,114. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94. The firm has a market cap of $21.12 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.75 and a beta of 0.72. The stock has a fifty day simple moving average of $101.08 and a 200-day simple moving average of $104.88.

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 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $1.91 earnings per share. Equities research analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be given a $0.1086 dividend. This represents a $0.43 annualized dividend and a yield of 0.5%. This is a positive change from CGI Group's previous quarterly dividend of $0.11. The ex-dividend date is Friday, August 15th. CGI Group's dividend payout ratio (DPR) is presently 7.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada cut their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. UBS Group cut their target price on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $148.25.

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.