Woodmont Investment Counsel LLC Purchases Shares of 21,913 CGI Group, Inc. (NYSE:GIB)

Woodmont Investment Counsel LLC acquired a new position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 21,913 shares of the technology company's stock, valued at approximately $2,188,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GIB. Fifth Third Bancorp lifted 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 acquiring an additional 182 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of CGI Group during the fourth quarter worth $83,000. Hoey Investments Inc. purchased a new stake in shares of CGI Group during the fourth quarter valued at $99,000. Versant Capital Management Inc raised 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 worth $105,000 after buying an additional 829 shares during the period. Finally, Blue Trust Inc. lifted its stake in CGI Group by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after buying an additional 375 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

CGI Group Stock Down 1.9%

GIB stock opened at $105.25 on Friday. The company has a 50 day moving average of $106.67 and a two-hundred day moving average of $108.11. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. CGI Group, Inc. has a 12-month low of $92.85 and a 12-month high of $122.79. The company has a market cap of $23.62 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.94 and a beta of 0.77.

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

CGI Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were paid a $0.1086 dividend. This is a boost from CGI Group's previous quarterly dividend of $0.10. The ex-dividend date was Friday, May 16th. This represents a $0.43 annualized dividend and a dividend yield of 0.41%. CGI Group's payout ratio is presently 7.83%.

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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