161,554 Shares in CGI Group, Inc. $GIB Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake of 161,554 shares in CGI Group, valued at approximately $16.1 million, representing about 0.07% of the company.
• CGI Group has recently seen target price adjustments from analysts, with UBS Group lowering its target from $112 to $105, and Royal Bank Of Canada decreasing it from $185 to $175.
• The company declared a quarterly dividend of $0.1086, an increase from its previous dividend of $0.11, with a payout ratio of 7.95%.

Nuveen LLC bought a new position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 161,554 shares of the technology company's stock, valued at approximately $16,126,000. Nuveen LLC owned about 0.07% of CGI Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in CGI Group by 239.5% during the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after purchasing an additional 182 shares during the period. Versant Capital Management Inc lifted its holdings in shares of CGI Group by 371.7% during the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock worth $105,000 after buying an additional 829 shares in the last quarter. GeoWealth Management LLC lifted its holdings in shares of CGI Group by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after buying an additional 579 shares in the last quarter. Creekmur Asset Management LLC raised its stake in CGI Group by 7,051.9% during the first quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock worth $193,000 after acquiring an additional 1,904 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in CGI Group in the fourth quarter valued at approximately $221,000. 66.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GIB has been the topic of several analyst reports. UBS Group reduced their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada decreased their target price on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $148.25.

CGI Group Price Performance

NYSE GIB traded down $1.07 during trading hours on Monday, hitting $95.89. The company had a trading volume of 180,435 shares, compared to its average volume of 283,986. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The firm has a 50 day simple moving average of $100.55 and a 200 day simple moving average of $104.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.78 and a beta of 0.72.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the firm posted $1.91 EPS. The company's revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be given a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a yield of 0.5%. The ex-dividend date 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%.

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.