Cerity Partners LLC Has $2.62 Million Position in CGI Group, Inc. (NYSE:GIB)

Cerity Partners LLC raised its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 129.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 26,230 shares of the technology company’s stock after purchasing an additional 14,806 shares during the quarter. Cerity Partners LLC’s holdings in CGI Group were worth $2,619,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in CGI Group by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,942,779 shares of the technology company’s stock valued at $869,067,000 after buying an additional 128,285 shares in the last quarter. Bank of Montreal Can grew its stake in CGI Group by 17.3% in the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company’s stock worth $419,976,000 after purchasing an additional 567,868 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of CGI Group by 29.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company’s stock worth $327,007,000 after acquiring an additional 678,431 shares during the last quarter. Norges Bank purchased a new stake in shares of CGI Group in the fourth quarter worth $286,970,000. Finally, TD Asset Management Inc. lifted its holdings in shares of CGI Group by 3.5% during the fourth quarter. TD Asset Management Inc. now owns 2,383,862 shares of the technology company’s stock valued at $260,697,000 after purchasing an additional 81,440 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 reaffirmed an “outperform” rating and set a $192.00 target price on shares of CGI Group in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $156.75.

CGI Group Stock Down 1.0%

Shares of GIB stock opened at $99.45 on Friday. 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 1 year low of $92.85 and a 1 year high of $122.79. The firm’s fifty day moving average price is $105.91 and its two-hundred day moving average price is $107.02. The firm has a market capitalization of $22.32 billion, a P/E ratio of 18.11, a PEG ratio of 1.85 and a beta of 0.76.

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

CGI Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 16th were given a $0.1086 dividend. The ex-dividend date was Friday, May 16th. This is an increase from CGI Group’s previous quarterly dividend of $0.10. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.44%. CGI Group’s dividend payout ratio is currently 7.83%.

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.