Wellington Management Group LLP Has $9.81 Million Position in CGI Group, Inc. $GIB

Key Points

• Wellington Management Group LLP reduced its stake in CGI Group by 3.7% in the first quarter, holding 98,300 shares valued at approximately $9.81 million after selling 3,780 shares.
• CGI Group reported $1.52 earnings per share for the recent quarter, which surpassed analysts' expectations, despite revenues of $3 billion falling short of consensus estimates of $4.01 billion.
• The company announced a quarterly dividend of $0.1086 per share, reflecting an increase from the previous quarter’s dividend, with a yield of 0.4%.

Wellington Management Group LLP lowered its stake in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,300 shares of the technology company's stock after selling 3,780 shares during the period. Wellington Management Group LLP's holdings in CGI Group were worth $9,812,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in CGI Group by 239.5% in the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after acquiring an additional 182 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in CGI Group by 292.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company's stock worth $100,000 after acquiring an additional 749 shares during the period. Versant Capital Management Inc raised its holdings in CGI Group by 371.7% in the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock worth $105,000 after acquiring an additional 829 shares during the period. Creekmur Asset Management LLC raised its holdings in CGI Group by 7,051.9% in the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock worth $193,000 after acquiring an additional 1,904 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in CGI Group in the 4th quarter worth $221,000. Institutional investors own 66.68% of the company's stock.

CGI Group Trading Up 0.7%

GIB traded up $0.71 during mid-day trading on Monday, hitting $97.13. The stock had a trading volume of 241,832 shares, compared to its average volume of 344,778. The stock's fifty day simple moving average is $99.45 and its 200-day simple moving average is $103.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.79 and a beta of 0.75. CGI Group, Inc. has a 1-year low of $92.85 and a 1-year high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its earnings results 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. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $1.91 earnings per share. As a group, research analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be issued a $0.1086 dividend. This represents a $0.43 annualized dividend and a yield of 0.4%. This is a boost from CGI Group's previous quarterly dividend of $0.11. The ex-dividend date is Friday, August 15th. CGI Group's dividend payout ratio (DPR) is 7.95%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GIB. UBS Group dropped their price objective on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada reduced their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, CGI Group has a consensus rating of "Buy" and an average price target of $148.25.

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.