PDT Partners LLC Purchases New Shares in CGI Group, Inc. $GIB

Key Points

• PDT Partners LLC has acquired a new position in CGI Group, purchasing 6,115 shares valued at approximately $610,000 in the first quarter of the year.
• Several institutional investors have increased their stakes in CGI Group, with significant rises in holdings noted, including Creekmur Asset Management's increase of 7,051.9%.
• CGI Group recently disclosed a quarterly dividend increase, with a newly boosted dividend of $0.1086 per share, scheduled to be paid on September 19th.

PDT Partners LLC purchased a new position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,115 shares of the technology company's stock, valued at approximately $610,000.

Several other institutional investors have also recently made changes to their positions in GIB. Stifel Financial Corp increased its position in shares of CGI Group by 54.1% during the 4th quarter. Stifel Financial Corp now owns 7,041 shares of the technology company's stock worth $770,000 after purchasing an additional 2,472 shares during the last quarter. Northern Trust Corp increased its position in shares of CGI Group by 64.4% during the 4th quarter. Northern Trust Corp now owns 194,481 shares of the technology company's stock worth $21,261,000 after purchasing an additional 76,175 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of CGI Group by 0.9% during the 4th quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock worth $1,380,000 after purchasing an additional 115 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of CGI Group during the 4th quarter worth approximately $1,734,000. Finally, Bank of America Corp DE increased its position in shares of CGI Group by 47.2% during the 4th quarter. Bank of America Corp DE now owns 736,901 shares of the technology company's stock worth $80,558,000 after purchasing an additional 236,333 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Stock Down 1.3%

CGI Group stock traded down $1.21 during mid-day trading on Wednesday, reaching $94.36. The stock had a trading volume of 44,597 shares, compared to its average volume of 283,545. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The stock's 50-day simple moving average is $98.28 and its 200-day simple moving average is $102.54. The firm has a market capitalization of $21.04 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.77 and a beta of 0.75.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced 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. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the firm posted $1.91 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be issued a $0.1086 dividend. This is a boost from CGI Group's previous quarterly dividend of $0.11. 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. CGI Group's dividend payout ratio is 7.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. 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. UBS Group reduced their price target on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $148.25.

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.