6,274 Shares in CGI Group, Inc. $GIB Bought by United Services Automobile Association

Key Points

• United Services Automobile Association acquired a new stake in CGI Group, Inc. by purchasing 6,274 shares valued at approximately $616,000.
• CGI Group recently declared a quarterly dividend of $0.1086, marking an increase from its previous dividend and reflecting a yield of 0.5%.
• Analysts have mixed ratings on CGI Group with a consensus rating of "Buy" and an average target price of $148.25, despite some recent target price reductions by major firms.

United Services Automobile Association bought a new position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,274 shares of the technology company's stock, valued at approximately $616,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of CGI Group by 9,881.5% during the 1st quarter. GAMMA Investing LLC now owns 2,695 shares of the technology company's stock worth $269,000 after purchasing an additional 2,668 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of CGI Group by 239.5% during the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after acquiring an additional 182 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of CGI Group by 1.7% during the 1st quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company's stock worth $613,000 after acquiring an additional 100 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of CGI Group during the 1st quarter worth approximately $494,000. Finally, Principal Financial Group Inc. boosted its position in shares of CGI Group by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 55,151 shares of the technology company's stock worth $5,505,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GIB shares. UBS Group reduced their price target on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Royal Bank Of Canada reduced their price target on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $148.25.

CGI Group Trading Down 0.6%

Shares of GIB stock traded down $0.57 during trading hours on Monday, hitting $92.75. 88,515 shares of the company's stock traded hands, compared to its average volume of 283,683. The stock's 50 day simple moving average is $97.54 and its 200 day simple moving average is $102.09. The stock has a market cap of $20.67 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.71 and a beta of 0.75. CGI Group, Inc. has a 12 month low of $92.21 and a 12 month high of $122.79. 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 released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the firm earned $1.91 earnings per share. The company's revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be paid a dividend of $0.1086 per share. This is a boost from CGI Group's previous quarterly dividend of $0.11. This represents a $0.43 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 15th. CGI Group's payout ratio is 7.95%.

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.