WCM Investment Management LLC Trims Stock Holdings in CGI Group, Inc. (NYSE:GIB)

WCM Investment Management LLC trimmed its holdings in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 15.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,949 shares of the technology company's stock after selling 3,685 shares during the period. WCM Investment Management LLC's holdings in CGI Group were worth $1,957,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fifth Third Bancorp lifted its stake in 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 acquiring an additional 182 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in CGI Group during the 4th quarter valued at about $83,000. Hoey Investments Inc. purchased a new position in CGI Group during the 4th quarter valued at about $99,000. Versant Capital Management Inc grew its holdings in CGI Group by 371.7% during the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after buying an additional 829 shares in the last quarter. Finally, GeoWealth Management LLC grew its holdings in CGI Group by 80.4% during the 4th quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after buying an additional 579 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors.

CGI Group Trading Up 0.9%

GIB stock traded up $0.93 during midday trading on Friday, hitting $106.19. The company had a trading volume of 96,405 shares, compared to its average volume of 208,888. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The stock's 50 day moving average price is $106.73 and its 200 day moving average price is $107.59. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.98 and a beta of 0.76.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. CGI Group had a net margin of 11.53% and a return on equity of 18.86%. CGI Group's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.97 EPS. As a group, equities research analysts expect 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. Investors of record on Friday, May 16th were issued a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, May 16th. This is an increase from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio is currently 7.83%.

Analyst Upgrades and Downgrades

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