Walter Public Investments Inc. Trims Stock Holdings in CGI Group, Inc. (NYSE:GIB)

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 disclosure with the Securities & Exchange Commission. The fund owned 182,644 shares of the technology company's stock after selling 4,578 shares during the period. CGI Group accounts for approximately 3.4% of Walter Public Investments Inc.'s portfolio, making the stock its 11th biggest holding. Walter Public Investments Inc. owned 0.08% of CGI Group worth $18,231,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GIB. Raymond James Financial Inc. acquired a new position in CGI Group in the 4th quarter valued at about $925,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in CGI Group in the 4th quarter valued at about $83,000. Sequoia Financial Advisors LLC raised its stake in CGI Group by 0.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,209 shares of the technology company's stock valued at $3,412,000 after purchasing an additional 111 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in CGI Group by 65.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 51,206 shares of the technology company's stock valued at $5,597,000 after purchasing an additional 20,195 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in CGI Group by 3.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,515 shares of the technology company's stock valued at $1,477,000 after purchasing an additional 464 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Stock Down 1.7%

GIB opened at $104.34 on Tuesday. 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 stock has a market capitalization of $23.41 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76. The business has a 50-day moving average of $106.70 and a two-hundred day moving average of $107.54. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted 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). The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.97 EPS. On average, research analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 16th were issued a $0.1086 dividend. This is a boost from CGI Group's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.43 annualized dividend and a yield of 0.42%. CGI Group's payout ratio is 7.83%.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada reissued an "outperform" rating and issued a $192.00 target price on shares of CGI Group in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $156.75.

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.

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