CGI Group, Inc. (NYSE:GIB) Position Cut by Walter Public Investments Inc.

Walter Public Investments Inc. lowered its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,644 shares of the technology company's stock after selling 4,578 shares during the quarter. CGI Group comprises 3.4% of Walter Public Investments Inc.'s holdings, making the stock its 11th largest holding. Walter Public Investments Inc. owned 0.08% of CGI Group worth $18,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EULAV Asset Management lifted its position in CGI Group by 3.3% during the 1st quarter. EULAV Asset Management now owns 397,110 shares of the technology company's stock worth $39,643,000 after acquiring an additional 12,800 shares during the period. Principal Financial Group Inc. increased its holdings in CGI Group by 0.9% in 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. Cidel Asset Management Inc. raised its holdings in shares of CGI Group by 5.3% during the first quarter. Cidel Asset Management Inc. now owns 318,390 shares of the technology company's stock valued at $31,780,000 after acquiring an additional 16,043 shares during the last quarter. Vontobel Holding Ltd. grew its stake in 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 acquiring an additional 100 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of CGI Group by 10.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 72,197 shares of the technology company's stock worth $7,209,000 after acquiring an additional 6,752 shares during the period. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

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

CGI Group Trading Down 1.7%

NYSE GIB traded down $1.77 during mid-day trading on Friday, reaching $100.60. 251,939 shares of the stock were exchanged, compared to its average volume of 210,898. The stock has a market capitalization of $22.57 billion, a PE ratio of 18.32, a PEG ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 1.27. CGI Group, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79. The business's fifty day simple moving average is $106.43 and its 200 day simple moving average is $107.36.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the company earned $1.97 earnings per share. The business's revenue was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 16th were given a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.43%. This is a positive change from CGI Group's previous quarterly dividend of $0.10. The ex-dividend date was Friday, May 16th. CGI Group's payout ratio is presently 7.83%.

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.