4,948 Shares in CGI Group, Inc. (NYSE:GIB) Bought by QRG Capital Management Inc.

QRG Capital Management Inc. purchased a new stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,948 shares of the technology company's stock, valued at approximately $494,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIB. Fifth Third Bancorp grew its stake in CGI Group by 239.5% during the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after buying an additional 182 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI Group during the 4th quarter valued at $83,000. Hoey Investments Inc. bought a new stake in CGI Group in the fourth quarter worth about $99,000. Versant Capital Management Inc lifted its stake in CGI Group by 371.7% during the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after purchasing an additional 829 shares during the last quarter. Finally, GeoWealth Management LLC lifted its position in shares of CGI Group by 80.4% during the 4th quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after acquiring an additional 579 shares during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada reiterated an "outperform" rating and set a $192.00 price target on shares of CGI Group in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $156.75.

CGI Group Trading Up 0.5%

NYSE GIB traded up $0.50 during trading on Thursday, reaching $104.00. 289,341 shares of the stock traded hands, compared to its average volume of 207,826. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The firm has a market cap of $23.34 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.88 and a beta of 0.77. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The stock's 50-day moving average price is $106.75 and its 200 day moving average price is $107.94.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the business earned $1.97 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts predict that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were issued a dividend of $0.1086 per share. This is an increase from CGI Group's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.43 annualized dividend and a dividend yield of 0.42%. CGI Group's payout ratio is presently 7.83%.

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.