US Bancorp DE Sells 201 Shares of CGI Group, Inc. (NYSE:GIB)

US Bancorp DE trimmed its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 6.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,768 shares of the technology company’s stock after selling 201 shares during the quarter. US Bancorp DE’s holdings in CGI Group were worth $276,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mackenzie Financial Corp increased its holdings in CGI Group by 0.9% in the 1st 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 in the last quarter. Fiera Capital Corp grew its stake in shares of CGI Group by 2.1% during the 1st quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company’s stock valued at $437,770,000 after purchasing an additional 89,458 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of CGI Group by 7.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company’s stock valued at $202,470,000 after purchasing an additional 133,750 shares during the period. Hsbc Holdings PLC grew its stake in shares of CGI Group by 18.6% during the 4th quarter. Hsbc Holdings PLC now owns 1,032,579 shares of the technology company’s stock valued at $112,913,000 after purchasing an additional 161,821 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of CGI Group by 0.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 932,423 shares of the technology company’s stock valued at $90,713,000 after purchasing an additional 8,369 shares during the period. 66.68% of the stock is currently owned by institutional investors.

CGI Group Stock Down 2.0%

GIB stock opened at $93.79 on Friday. CGI Group, Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a market cap of $20.91 billion, a P/E ratio of 17.34, a PEG ratio of 1.76 and a beta of 0.72. The business’s 50-day moving average price is $102.19 and its 200-day moving average price is $105.49.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data 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 return on equity of 18.53% and a net margin of 11.01%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the firm earned $1.91 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities research analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be issued 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 yield of 0.5%. This is a boost from CGI Group’s previous quarterly dividend of $0.11. CGI Group’s payout ratio is presently 7.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada cut their price target on CGI Group from $185.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. UBS Group cut their price target on CGI Group from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Two investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.