CGI Group, Inc. (NYSE:GIB) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in CGI Group, Inc. by 2.1%, holding approximately $233.04 million in shares after selling 49,178 shares during the first quarter.
• CGI Group's stock experienced a 0.4% decline, trading at $101.06, with a total market capitalization of $22.68 billion.
• The company recently announced an increased quarterly dividend of $0.1086, representing an annualized payout of $0.43 with a yield of 0.43%.

TD Asset Management Inc lowered its position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,334,684 shares of the technology company's stock after selling 49,178 shares during the period. TD Asset Management Inc owned 1.03% of CGI Group worth $233,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GIB. Fifth Third Bancorp raised its holdings in shares of CGI Group by 239.5% in the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock valued at $26,000 after buying an additional 182 shares during the last quarter. Hoey Investments Inc. acquired a new stake in shares of CGI Group in the fourth quarter valued at approximately $99,000. Versant Capital Management Inc lifted its stake in shares of CGI Group by 371.7% during the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after buying an additional 829 shares during the period. GeoWealth Management LLC lifted its stake in shares of CGI Group by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after buying an additional 579 shares during the period. Finally, Creekmur Asset Management LLC raised its stake in CGI Group by 7,051.9% during the first quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock worth $193,000 after purchasing an additional 1,904 shares during the period. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Trading Down 2.1%

Shares of CGI Group stock traded down $2.13 during trading hours on Wednesday, hitting $97.78. The company's stock had a trading volume of 397,969 shares, compared to its average volume of 272,519. The business has a fifty day moving average of $104.93 and a 200 day moving average of $106.63. The company has a market capitalization of $21.94 billion, a PE ratio of 17.80, a P/E/G ratio of 1.85 and a beta of 0.76. CGI Group, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. CGI Group's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.97 earnings per share. As a group, equities analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 16th were issued a dividend of $0.1086 per share. This is a positive change from CGI Group's previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, May 16th. CGI Group's dividend payout ratio (DPR) is currently 7.83%.

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.