Skandinaviska Enskilda Banken AB publ Boosts Position in CGI Group, Inc. (NYSE:GIB)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in CGI Group, Inc. by 8.4%, bringing its total holdings to 55,497 shares valued at $5,540,000.
• CGI Group reported a miss in quarterly earnings with an EPS of $1.48, slightly below the analysts' estimate of $1.50, while revenue reached $2.80 billion.
• The company announced a dividend increase, paying shareholders $0.1086 per share, reflecting an annualized dividend of $0.43 and a yield of 0.43%.

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,497 shares of the technology company's stock after purchasing an additional 4,291 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in CGI Group were worth $5,540,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Davis Rea LTD. bought a new stake in shares of CGI Group during the 1st quarter worth $3,230,000. Lincluden Management Ltd. boosted its position in CGI Group by 20.4% in the first quarter. Lincluden Management Ltd. now owns 43,705 shares of the technology company's stock worth $4,363,000 after purchasing an additional 7,403 shares during the last quarter. C WorldWide Group Holding A S boosted its position in CGI Group by 56.5% in the first quarter. C WorldWide Group Holding A S now owns 17,692 shares of the technology company's stock worth $1,766,000 after purchasing an additional 6,388 shares during the last quarter. Creekmur Asset Management LLC grew its stake in shares of CGI Group by 7,051.9% during the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock worth $193,000 after acquiring an additional 1,904 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings 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 during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Price Performance

NYSE:GIB traded down $0.20 during mid-day trading on Thursday, reaching $96.87. The stock had a trading volume of 181,536 shares, compared to its average volume of 274,512. The firm has a 50 day moving average price of $104.72 and a two-hundred day moving average price of $106.56. The stock has a market capitalization of $21.74 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.85 and a beta of 0.76. CGI Group, Inc. has a one year low of $92.85 and a one year 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 posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the business earned $1.97 earnings per share. CGI Group's revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group cut their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday. Royal Bank Of Canada cut 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. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price 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.