UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Trims Stock Position 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 trimmed its holdings in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 12.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 440,671 shares of the technology company's stock after selling 65,100 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.19% of CGI Group worth $43,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIB. Federation des caisses Desjardins du Quebec increased its position in CGI Group by 22.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 4,933,984 shares of the technology company's stock worth $491,725,000 after purchasing an additional 907,876 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position 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 worth $92,438,000 after buying an additional 780,370 shares during the period. Royal Bank of Canada increased its holdings in CGI Group by 10.1% in the 1st quarter. Royal Bank of Canada now owns 8,151,753 shares of the technology company's stock valued at $813,792,000 after purchasing an additional 747,918 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in CGI Group by 275.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 898,276 shares of the technology company's stock valued at $89,675,000 after purchasing an additional 658,925 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of CGI Group by 35.6% during the first quarter. Canada Pension Plan Investment Board now owns 956,460 shares of the technology company's stock valued at $95,499,000 after acquiring an additional 251,242 shares in the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Group Stock Up 0.4%

Shares of NYSE:GIB traded up $0.36 during midday trading on Friday, reaching $92.62. 376,253 shares of the company were exchanged, compared to its average volume of 270,296. The firm has a market cap of $20.65 billion, a PE ratio of 17.12, a P/E/G ratio of 1.70 and a beta of 0.75. CGI Group, Inc. has a fifty-two week low of $92.07 and a fifty-two week high of $122.79. The stock has a fifty day simple moving average of $96.55 and a two-hundred day simple moving average of $101.75. 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 announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.91 EPS. As a group, sell-side analysts forecast that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GIB shares. UBS Group cut their target price on shares of 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 lowered their price target on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $148.25.

CGI Group 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.