Russell Investments Group Ltd. Sells 4,812 Shares of CGI Group, Inc. $GIB

Key Points

• Russell Investments Group Ltd. reduced its stake in CGI Group by 2.7%, selling 4,812 shares during the first quarter, and currently owns approximately 175,044 shares valued at $17.37 million.
• CGI Group reported $1.52 earnings per share for the latest quarter, slightly exceeding analysts' expectations of $1.51, despite a revenue of only $3 billion compared to expectations of $4.01 billion.
• The company has announced a quarterly dividend increase to $0.1086, with an annualized yield of 0.5%, payable to stockholders on September 19th.

Russell Investments Group Ltd. decreased its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,044 shares of the technology company's stock after selling 4,812 shares during the period. Russell Investments Group Ltd. owned about 0.08% of CGI Group worth $17,371,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group decreased their target price on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their price target on CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $148.25.

CGI Group Price Performance

GIB traded up $1.8690 during midday trading on Friday, hitting $96.7090. The stock had a trading volume of 67,588 shares, compared to its average volume of 282,673. The company has a market cap of $21.56 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 1.74 and a beta of 0.72. The business has a fifty day moving average of $100.78 and a 200 day moving average of $104.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. CGI Group, Inc. has a 1 year low of $92.85 and a 1 year 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 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts forecast that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be given a $0.1086 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from CGI Group's previous quarterly dividend of $0.11. CGI Group's payout ratio is currently 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.