Beutel Goodman & Co Ltd. Raises Holdings in CGI Group, Inc. $GIB

Beutel Goodman & Co Ltd. raised its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 13.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,452,820 shares of the technology company’s stock after acquiring an additional 397,005 shares during the quarter. CGI Group makes up 2.1% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 21st biggest holding. Beutel Goodman & Co Ltd. owned about 1.55% of CGI Group worth $361,881,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Federation des caisses Desjardins du Quebec increased its stake in CGI Group by 22.5% in the first quarter. Federation des caisses Desjardins du Quebec now owns 4,933,984 shares of the technology company’s stock valued at $491,725,000 after purchasing an additional 907,876 shares during the period. Royal Bank of Canada lifted its position in shares of CGI Group by 10.1% during the 1st quarter. Royal Bank of Canada now owns 8,151,753 shares of the technology company’s stock valued at $813,792,000 after acquiring an additional 747,918 shares during the period. Goldman Sachs Group Inc. boosted its position in CGI Group by 275.3% during the first quarter. Goldman Sachs Group Inc. now owns 898,276 shares of the technology company’s stock worth $89,675,000 after purchasing an additional 658,925 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in CGI Group by 35.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 956,460 shares of the technology company’s stock valued at $95,499,000 after acquiring an additional 251,242 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of CGI Group during the 1st quarter worth approximately $16,126,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Group Stock Up 2.3%

NYSE GIB opened at $91.55 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. CGI Group, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $122.79. The business has a 50 day moving average price of $88.10 and a two-hundred day moving average price of $96.19. The stock has a market cap of $20.41 billion, a PE ratio of 17.40 and a beta of 0.61.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, November 5th. The technology company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $4 billion. CGI Group had a net margin of 10.41% and a return on equity of 18.55%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 earnings per share. As a group, sell-side analysts predict that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be issued a $0.17 dividend. The ex-dividend date is Friday, November 21st. This represents a $0.68 dividend on an annualized basis and a yield of 0.7%. This is an increase from CGI Group’s previous quarterly dividend of $0.11. CGI Group’s dividend payout ratio (DPR) is presently 9.13%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CGI Group in a research note on Monday. TD Securities raised CGI Group to a “strong-buy” rating in a research note on Friday, October 3rd. Royal Bank Of Canada dropped their target price on shares of CGI Group from $175.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $81.00 price target (down previously from $105.00) on shares of CGI Group in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, CGI Group has an average rating of “Moderate Buy” and an average target price of $117.00.

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.