Parallel Advisors LLC Has $290,000 Position in CGI Group, Inc. $GIB

Parallel Advisors LLC lifted its stake in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 14.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,766 shares of the technology company’s stock after acquiring an additional 356 shares during the period. Parallel Advisors LLC’s holdings in CGI Group were worth $290,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SVB Wealth LLC acquired a new position in shares of CGI Group during the 1st quarter valued at $25,000. 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 period. Caitong International Asset Management Co. Ltd lifted its position in shares of CGI Group by 292.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company’s stock valued at $100,000 after acquiring an additional 749 shares during the period. Versant Capital Management Inc lifted its position in shares of CGI Group by 371.7% during the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company’s stock valued at $105,000 after acquiring an additional 829 shares during the period. Finally, Creekmur Asset Management LLC lifted its position in shares of CGI Group by 7,051.9% during the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company’s stock valued at $193,000 after acquiring an additional 1,904 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

GIB has been the topic of a number of research reports. Royal Bank Of Canada dropped their target price on shares of CGI Group from $185.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. UBS Group lowered their price objective on shares of CGI Group from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $148.25.

CGI Group Price Performance

GIB opened at $92.62 on Monday. The firm has a market cap of $20.65 billion, a P/E ratio of 17.12, a PEG ratio of 1.70 and a beta of 0.75. The firm has a 50-day moving average of $96.55 and a 200 day moving average of $101.72. 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 fifty-two week low of $92.07 and a fifty-two week high of $122.79.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.91 earnings per share. On average, research analysts expect that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were issued a dividend of $0.1086 per share. This represents a $0.43 annualized dividend and a yield of 0.5%. This is a boost from CGI Group’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, August 15th. CGI Group’s payout ratio is currently 7.95%.

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.