Union Bancaire Privee UBP SA Lowers Stock Position in CGI Group, Inc. (NYSE:GIB)

Union Bancaire Privee UBP SA decreased its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 73.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,121 shares of the technology company's stock after selling 11,681 shares during the quarter. Union Bancaire Privee UBP SA's holdings in CGI Group were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of GIB. Vanguard Group Inc. boosted its stake in CGI Group by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company's stock worth $869,067,000 after acquiring an additional 128,285 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of CGI Group by 17.3% during the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after purchasing an additional 567,868 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of CGI Group by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after purchasing an additional 678,431 shares during the period. Norges Bank bought a new position in shares of CGI Group during the 4th quarter worth about $286,970,000. Finally, TD Asset Management Inc. grew its stake in shares of CGI Group by 3.5% in the 4th quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company's stock valued at $260,697,000 after buying an additional 81,440 shares during the period. Institutional investors own 66.68% of the company's stock.

Analyst Ratings Changes

Separately, Royal Bank Of Canada reissued an "outperform" rating and issued a $192.00 price objective on shares of CGI Group in a research note on Wednesday, March 26th. Two investment 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. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $156.75.

CGI Group Stock Down 1.1%

Shares of NYSE GIB traded down $1.24 during mid-day trading on Tuesday, reaching $107.76. 146,093 shares of the company's stock traded hands, compared to its average volume of 205,460. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 0.92. The business has a 50-day simple moving average of $106.31 and a 200 day simple moving average of $108.20. The stock has a market cap of $24.18 billion, a P/E ratio of 19.63, a PEG ratio of 1.97 and a beta of 0.77. CGI Group, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The company 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 quarter last year, the firm posted $1.97 EPS. On average, analysts expect that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be issued a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.43 annualized dividend and a yield of 0.40%. This is an increase from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio is 7.83%.

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.