Vanguard Group Inc. Grows Position in CGI Group, Inc. (NYSE:GIB)

Vanguard Group Inc. boosted its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 1.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,037,045 shares of the technology company's stock after acquiring an additional 94,266 shares during the quarter. Vanguard Group Inc. owned 3.54% of CGI Group worth $802,338,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased 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 valued at $269,000 after purchasing an additional 2,668 shares during the last quarter. Fifth Third Bancorp increased 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 valued at $26,000 after purchasing an additional 182 shares during the last quarter. Vontobel Holding Ltd. increased 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 valued at $613,000 after purchasing an additional 100 shares during the last quarter. QRG Capital Management Inc. bought a new position in shares of CGI Group during the 1st quarter valued at about $494,000. Finally, Principal Financial Group Inc. increased 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 valued at $5,505,000 after purchasing an additional 500 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank Of Canada reduced their price objective on CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. UBS Group reduced their price objective on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CGI Group presently has a consensus rating of "Moderate Buy" and an average price target of $148.25.

CGI Group Trading Up 0.1%

GIB traded up $0.07 on Friday, hitting $93.91. 336,935 shares of the company were exchanged, compared to its average volume of 367,659. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. 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 firm has a fifty day simple moving average of $101.91 and a two-hundred day simple moving average of $105.35. The stock has a market capitalization of $20.93 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the business posted $1.91 EPS. The business's revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The company 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. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, August 15th. This is a boost from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio (DPR) is 7.95%.

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.