United Services Automobile Association Purchases Shares of 6,274 CGI Group, Inc. $GIB

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 CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 6,274 shares of the technology company's stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Guardian Partners Inc. lifted its stake in shares of CGI Group by 5.0% during the 1st quarter. Guardian Partners Inc. now owns 14,536 shares of the technology company's stock worth $1,465,000 after acquiring an additional 690 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of CGI Group by 275.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 898,276 shares of the technology company's stock worth $89,675,000 after acquiring an additional 658,925 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of CGI Group during the 1st quarter worth approximately $645,000. Millennium Management LLC lifted its stake in shares of CGI Group by 786.2% during the 1st quarter. Millennium Management LLC now owns 81,470 shares of the technology company's stock worth $8,141,000 after acquiring an additional 72,277 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of CGI Group during the 1st quarter worth approximately $347,000. 66.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

GIB has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their price target on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. UBS Group decreased their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. One investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $148.25.

CGI Group Stock Down 0.9%

Shares of NYSE:GIB traded down $0.83 on Friday, reaching $93.43. The company had a trading volume of 199,505 shares, compared to its average volume of 289,177. CGI Group, Inc. has a 52-week low of $92.21 and a 52-week high of $122.79. The firm's 50 day simple moving average is $97.54 and its 200-day simple moving average is $102.15. The firm has a market capitalization of $20.83 billion, a PE ratio of 17.27, a PEG ratio of 1.73 and a beta of 0.75. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the business posted $1.91 EPS. The business's revenue was up 11.4% compared to the same quarter last year. As a group, analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be issued a $0.1086 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio (DPR) 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.