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

Other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in CGI Group by 0.9% during the first quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock worth $474,702,000 after buying an additional 41,631 shares during the last quarter. Fiera Capital Corp grew its stake in shares of CGI Group by 2.1% in the 1st quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock worth $437,770,000 after acquiring an additional 89,458 shares in the last quarter. Bank of Montreal Can grew its position in CGI Group by 17.3% during the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock valued at $419,976,000 after buying an additional 567,868 shares during the period. Massachusetts Financial Services Co. MA grew its position in CGI Group by 7.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company's stock valued at $202,470,000 after buying an additional 133,750 shares during the period. Finally, Geode Capital Management LLC grew its position 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 valued at $140,266,000 after buying an additional 274,370 shares during the period. Institutional investors and hedge funds own 66.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GIB shares. UBS Group reduced their price target on shares of CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Royal Bank Of Canada cut their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $148.25.

CGI Group Price Performance

GIB traded up $0.84 on Friday, reaching $95.99. The company had a trading volume of 95,683 shares, compared to its average volume of 277,243. The business has a 50 day simple moving average of $103.43 and a 200 day simple moving average of $106.07. The company has a market cap of $21.40 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.78 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. CGI Group, Inc. has a 52-week low of $92.85 and a 52-week high of $122.79.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.51 by $0.01. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm posted $1.91 earnings per share. The business's revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be given a $0.1086 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from CGI Group's previous quarterly dividend of $0.11. CGI Group's payout ratio is currently 7.95%.

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.