XTX Topco Ltd Makes New $703,000 Investment in CGI Group, Inc. (NYSE:GIB)

Key Points

• XTX Topco Ltd has made a new investment of approximately $703,000 in CGI Group, Inc., acquiring 7,045 shares in the first quarter.
• CGI Group reported quarterly earnings of $1.52 per share, exceeding analyst expectations, with a year-over-year revenue increase of 11.4%.
• The company recently announced a dividend increase, with a new quarterly payment of $0.1086 per share, reflecting a 0.4% dividend yield.

XTX Topco Ltd purchased a new position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,045 shares of the technology company's stock, valued at approximately $703,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of CGI Group by 1,190.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock valued at $92,438,000 after buying an additional 780,370 shares in the last quarter. Bank of Montreal Can increased its position in shares of CGI Group by 17.3% during the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after purchasing an additional 567,868 shares during the period. Geode Capital Management LLC boosted its holdings in CGI Group by 27.5% during the fourth quarter. Geode Capital Management LLC now owns 1,272,840 shares of the technology company's stock worth $140,266,000 after buying an additional 274,370 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of CGI Group by 47.2% during the 4th quarter. Bank of America Corp DE now owns 736,901 shares of the technology company's stock worth $80,558,000 after acquiring an additional 236,333 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of CGI Group by 18.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,032,579 shares of the technology company's stock worth $112,913,000 after buying an additional 161,821 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Group Trading Up 1.4%

CGI Group stock opened at $96.86 on Tuesday. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. The stock has a market capitalization of $21.59 billion, a P/E ratio of 17.90, a PEG ratio of 1.76 and a beta of 0.72. The stock has a 50-day simple moving average of $104.10 and a 200 day simple moving average of $106.29.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $1.91 earnings per share. The firm's quarterly revenue was up 11.4% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be paid a $0.1086 dividend. This is a positive change from CGI Group's previous quarterly dividend of $0.11. This represents a $0.43 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, August 15th. CGI Group's payout ratio is presently 7.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GIB. Royal Bank Of Canada reduced their price objective on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. UBS Group decreased their price target on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $148.25.

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.

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