CGI Group, Inc. (NYSE:GIB) Shares Sold by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board reduced its stake in CGI Group, Inc. by 13.2%, ending the quarter with a position worth $2.11 million.
• CGI Group reported $1.52 earnings per share for the most recent quarter, slightly exceeding analyst expectations, along with a revenue of $3 billion.
• The company announced a quarterly dividend of $0.1086 per share, marking a positive change from its previous dividend while maintaining a payout ratio of 7.95%.

Ontario Teachers Pension Plan Board lowered its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,152 shares of the technology company's stock after selling 3,224 shares during the period. Ontario Teachers Pension Plan Board's holdings in CGI Group were worth $2,112,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Fifth Third Bancorp increased its position in shares of 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 in the last quarter. Versant Capital Management Inc increased its position 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 purchasing an additional 829 shares in the last quarter. GeoWealth Management LLC increased its position 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 purchasing an additional 579 shares in the last quarter. Creekmur Asset Management LLC increased its position in shares of 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 purchasing an additional 1,904 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of CGI Group during the fourth quarter worth $221,000. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. UBS Group lowered their price objective on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Royal Bank Of Canada reduced their target price on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $148.25.

CGI Group Stock Performance

GIB stock traded down $0.65 during midday trading on Tuesday, reaching $94.49. The stock had a trading volume of 91,343 shares, compared to its average volume of 277,318. The stock has a market cap of $21.06 billion, a PE ratio of 17.47, a P/E/G ratio of 1.76 and a beta of 0.72. 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 fifty day simple moving average of $102.95 and a two-hundred day simple moving average of $105.77. CGI Group, Inc. has a 52-week low of $92.85 and a 52-week 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, beating analysts' consensus estimates of $1.51 by $0.01. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%. The company's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $1.91 EPS. As a group, equities research analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, August 15th. This is an increase from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio (DPR) 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.