CGI Group, Inc. $GIB Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in CGI Group, Inc. by 53.6% in Q1, holding a total of 16,128 shares valued at $1.61 million.
• CGI Group reported an EPS of $1.52 for the last quarter, exceeding estimates, with revenues of $3 billion against a consensus of $4.01 billion.
• The company has announced an increase in its quarterly dividend to $0.1086 per share, which will be paid on September 19th.

OMERS ADMINISTRATION Corp boosted its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 53.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,128 shares of the technology company's stock after acquiring an additional 5,628 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in CGI Group were worth $1,610,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GIB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings 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 buying an additional 780,370 shares during the last quarter. Bank of America Corp DE grew its stake in shares of CGI Group by 47.2% during the fourth quarter. Bank of America Corp DE now owns 736,901 shares of the technology company's stock valued at $80,558,000 after purchasing an additional 236,333 shares during the last quarter. Nuveen LLC acquired a new position in CGI Group in the first quarter valued at approximately $16,126,000. Massachusetts Financial Services Co. MA increased its holdings in CGI Group by 7.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company's stock valued at $202,470,000 after purchasing an additional 133,750 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of CGI Group by 90.4% in the 1st quarter. Bessemer Group Inc. now owns 240,856 shares of the technology company's stock valued at $24,068,000 after buying an additional 114,373 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GIB has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. UBS Group reduced their price target on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research note 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. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $148.25.

CGI Group Price Performance

Shares of GIB traded up $1.33 during midday trading on Friday, hitting $96.62. 183,203 shares of the company traded hands, compared to its average volume of 329,046. The firm has a market cap of $21.54 billion, a P/E ratio of 17.86, a PEG ratio of 1.75 and a beta of 0.75. 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 stock has a 50-day moving average of $98.65 and a 200-day moving average of $102.91. 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 released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, topping 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 business had revenue of $3 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the business posted $1.91 EPS. The business's revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts predict that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The firm also recently announced 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 is an increase from CGI Group's previous quarterly dividend of $0.11. This represents a $0.43 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, August 15th. CGI Group's dividend payout ratio (DPR) is 7.95%.

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.