CGI Group, Inc. $GIB Shares Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in CGI Group, acquiring an additional 64,682 shares, raising its total holdings to 69,314 shares valued at approximately $6.92 million.
• CGI Group recently announced a quarterly dividend increase to $0.1086 per share, effective for shareholders of record as of August 15, enhancing its annual yield to approximately 0.5%.
• Analysts have set a moderate buy rating on CGI Group, with an average price target of $148.25, despite some recent downgrades from firms like UBS and Royal Bank of Canada.

Quantbot Technologies LP raised its position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1,396.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,314 shares of the technology company's stock after acquiring an additional 64,682 shares during the period. Quantbot Technologies LP's holdings in CGI Group were worth $6,920,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vontobel Holding Ltd. increased its position in CGI Group by 1.7% during the 1st quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company's stock worth $613,000 after purchasing an additional 100 shares in the last quarter. Townsquare Capital LLC grew its stake in CGI Group by 3.7% during the first quarter. Townsquare Capital LLC now owns 2,870 shares of the technology company's stock worth $287,000 after buying an additional 102 shares during the period. First Affirmative Financial Network grew its stake in CGI Group by 3.8% during the first quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company's stock worth $290,000 after buying an additional 106 shares during the period. Ameriprise Financial Inc. increased its position in shares of CGI Group by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock worth $1,380,000 after acquiring an additional 115 shares in the last quarter. Finally, Callan Family Office LLC raised its stake in shares of CGI Group by 4.4% in the 1st quarter. Callan Family Office LLC now owns 3,284 shares of the technology company's stock valued at $328,000 after acquiring an additional 139 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GIB. Royal Bank Of Canada lowered 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 decreased 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 analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $148.25.

CGI Group Stock Performance

GIB stock traded up $2.1380 during trading on Friday, reaching $96.9780. 369,640 shares of the company's stock were exchanged, compared to its average volume of 375,360. CGI Group, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The firm has a market cap of $21.62 billion, a PE ratio of 17.93, a P/E/G ratio of 1.74 and a beta of 0.72. The company's fifty day moving average price is $100.55 and its 200-day moving average price is $104.57. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last issued 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 for the quarter, compared to analysts' expectations of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The company's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.91 earnings per share. On average, research analysts expect that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be paid a dividend of $0.1086 per share. 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 0.4%. 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.