QRG Capital Management Inc. Makes New $494,000 Investment in CGI Group, Inc. (NYSE:GIB)

QRG Capital Management Inc. acquired a new position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,948 shares of the technology company's stock, valued at approximately $494,000.

A number of other hedge funds also recently modified their holdings of GIB. Olympiad Research LP bought a new position in shares of CGI Group during the 4th quarter worth approximately $203,000. DORCHESTER WEALTH MANAGEMENT Co lifted its position in shares of CGI Group by 3.8% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 93,521 shares of the technology company's stock worth $10,026,000 after buying an additional 3,464 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of CGI Group during the 4th quarter worth approximately $1,738,000. Bank of New York Mellon Corp lifted its position in shares of CGI Group by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company's stock worth $31,665,000 after buying an additional 1,409 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its position in shares of CGI Group by 1.8% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 80,433 shares of the technology company's stock worth $8,796,000 after buying an additional 1,400 shares during the period. Institutional investors own 66.68% of the company's stock.

CGI Group Stock Down 1.9%

NYSE GIB opened at $105.25 on Monday. The stock has a fifty day moving average of $106.67 and a 200-day moving average of $108.04. The stock has a market capitalization of $23.62 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 1.27.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $1.97 earnings per share. On average, equities research analysts forecast 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 was paid on Friday, June 20th. Investors of record on Friday, May 16th were paid a dividend of $0.1086 per share. The ex-dividend date of this dividend was Friday, May 16th. This is a boost from CGI Group's previous quarterly dividend of $0.10. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. CGI Group's payout ratio is 7.83%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada restated an "outperform" rating and set a $192.00 target price on shares of CGI Group in a research 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 given a strong buy rating to the company. According to data from MarketBeat.com, CGI Group currently has an average rating of "Buy" and an average target price of $156.75.

CGI Group 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.

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