UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Decreases Stock Holdings in CGI Group, Inc. $GIB

Key Points

• UBS AM reduced its position in CGI Group, Inc. by 12.9%, owning 440,671 shares after selling 65,100 shares in the first quarter.
• CGI Group plans to pay a quarterly dividend of $0.1086 per share on September 19th, marking an increase from its previous dividend of $0.11.
• Recent analyst ratings have seen UBS Group cut their price target from $112.00 to $105.00 and Royal Bank of Canada from $185.00 to $175.00, with the consensus rating remaining a "Buy."

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 440,671 shares of the technology company's stock after selling 65,100 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.19% of CGI Group worth $43,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GIB. Ameriprise Financial Inc. increased its position in shares of CGI Group by 0.9% during the 4th quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company's stock worth $1,380,000 after purchasing an additional 115 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in CGI Group during the fourth quarter worth $1,734,000. Focus Partners Wealth boosted its position in CGI Group by 48.1% during the fourth quarter. Focus Partners Wealth now owns 4,163 shares of the technology company's stock worth $455,000 after purchasing an additional 1,352 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of CGI Group by 20.9% in the fourth quarter. Gotham Asset Management LLC now owns 6,672 shares of the technology company's stock valued at $729,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Man Group plc lifted its position in shares of CGI Group by 229.7% in the fourth quarter. Man Group plc now owns 88,171 shares of the technology company's stock valued at $9,642,000 after acquiring an additional 61,427 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Stock Down 0.9%

NYSE:GIB opened at $93.43 on Monday. The stock's fifty day moving average price is $97.54 and its two-hundred day moving average price is $102.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. The company has a market cap of $20.83 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.71 and a beta of 0.75. CGI Group, Inc. has a 52-week low of $92.21 and a 52-week high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its earnings results 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 firm 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 company's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 EPS. On average, analysts anticipate 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 will be paid on Friday, September 19th. Shareholders 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 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 (DPR) is 7.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GIB shares. UBS Group cut their price objective on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada cut their target price 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 research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus 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.

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