Sienna Gestion Sells 2,900 Shares of CGI Group, Inc. (NYSE:GIB)

Key Points

• Sienna Gestion has reduced its holdings in CGI Group, Inc. by 6.1%, selling 2,900 shares and now owns a total of 45,000 shares valued at approximately $4,366,000.
• CGI Group recently announced a quarterly dividend increase to $0.1086 per share, payable on September 19th, raising its annualized dividend to $0.43 with a yield of 0.5%.
• Analysts have adjusted target prices for CGI Group, with Royal Bank of Canada setting a new target of $175.00 and UBS Group lowering theirs to $105.00, reflecting a consensus rating of "Moderate Buy".

Sienna Gestion decreased its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 6.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,000 shares of the technology company's stock after selling 2,900 shares during the period. Sienna Gestion's holdings in CGI Group were worth $4,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of CGI Group by 1,190.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock valued at $92,438,000 after buying an additional 780,370 shares during the period. Bank of America Corp DE grew its position in CGI Group by 47.2% during the fourth quarter. Bank of America Corp DE now owns 736,901 shares of the technology company's stock worth $80,558,000 after buying an additional 236,333 shares during the period. Hsbc Holdings PLC lifted its stake in shares of CGI Group by 18.6% during the fourth quarter. Hsbc Holdings PLC now owns 1,032,579 shares of the technology company's stock valued at $112,913,000 after buying an additional 161,821 shares during the period. Nuveen LLC purchased a new position in CGI Group during the first quarter worth approximately $16,126,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of CGI Group by 7.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company's stock worth $202,470,000 after acquiring an additional 133,750 shares in the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Group Stock Performance

Shares of GIB opened at $95.61 on Thursday. The business has a 50-day simple moving average of $102.47 and a two-hundred day simple moving average of $105.62. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The stock has a market cap of $21.31 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.73 and a beta of 0.72. 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 results on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.01. The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 EPS. On average, analysts expect that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be issued a $0.1086 dividend. This is a boost from CGI Group's previous quarterly dividend of $0.11. The ex-dividend date is Friday, August 15th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. CGI Group's dividend payout ratio (DPR) is 7.95%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GIB. Royal Bank Of Canada lowered their price objective on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. UBS Group reduced their target price on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $148.25.

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.

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