Scotia Capital Inc. Has $59.88 Million Stock Position in CGI Group, Inc. (NYSE:GIB)

Key Points

• Scotia Capital Inc. increased its stake in CGI Group, Inc. by 7.6% in Q1, owning approximately 0.27% of the company valued at $59.88 million.
• CGI Group reported earnings with an EPS of $1.52, surpassing estimates, and a quarterly revenue rise of 11.4% year-over-year.
• The company declared a quarterly dividend of $0.1086, which is an increase from the previous dividend, reflecting a yield of 0.5%.

Scotia Capital Inc. grew its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 600,989 shares of the technology company's stock after acquiring an additional 42,311 shares during the quarter. Scotia Capital Inc. owned approximately 0.27% of CGI Group worth $59,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Cumberland Partners Ltd grew its position in CGI Group by 27.1% in the first quarter. Cumberland Partners Ltd now owns 2,810 shares of the technology company's stock worth $280,000 after buying an additional 600 shares during the last quarter. XTX Topco Ltd bought a new stake in CGI Group in the first quarter worth approximately $703,000. Fiera Capital Corp increased its holdings in shares of CGI Group by 2.1% during the 1st quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock valued at $437,770,000 after acquiring an additional 89,458 shares during the last quarter. KFA Private Wealth Group LLC grew its holdings in CGI Group by 1.2% during the first quarter. KFA Private Wealth Group LLC now owns 12,500 shares of the technology company's stock valued at $1,248,000 after purchasing an additional 150 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in CGI Group by 0.9% during the 1st quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock worth $474,702,000 after acquiring an additional 41,631 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

CGI Group Price Performance

GIB stock traded down $1.80 during mid-day trading on Thursday, hitting $94.79. The stock had a trading volume of 101,316 shares, compared to its average volume of 276,934. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The firm has a fifty day simple moving average of $103.68 and a 200 day simple moving average of $106.16. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $21.13 billion, a P/E ratio of 17.53, a P/E/G ratio of 1.79 and a beta of 0.72.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.01. The business had revenue of $3 billion during 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 firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS. As a group, research analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be given a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a dividend yield of 0.5%. This is a boost from CGI Group's previous quarterly dividend of $0.11. The ex-dividend date is Friday, August 15th. CGI Group's dividend payout ratio is currently 7.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GIB. UBS Group decreased their target price on 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 reduced their price target on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CGI Group presently has an average rating of "Moderate Buy" and an average target price of $148.25.

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.