Mediolanum International Funds Ltd Has $5.97 Million Position in CGI Group, Inc. $GIB

Mediolanum International Funds Ltd boosted its position in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 35.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,190 shares of the technology company’s stock after buying an additional 17,448 shares during the quarter. Mediolanum International Funds Ltd’s holdings in CGI Group were worth $5,972,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Yousif Capital Management LLC raised its holdings in shares of CGI Group by 8.1% in the second quarter. Yousif Capital Management LLC now owns 2,591 shares of the technology company’s stock valued at $272,000 after purchasing an additional 195 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of CGI Group by 2.8% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 11,443 shares of the technology company’s stock worth $1,200,000 after buying an additional 314 shares during the last quarter. First Horizon Corp bought a new position in shares of CGI Group in the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its position in shares of CGI Group by 53.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after acquiring an additional 505 shares during the last quarter. Finally, Ethic Inc. raised its holdings in CGI Group by 11.9% during the second quarter. Ethic Inc. now owns 7,092 shares of the technology company’s stock worth $733,000 after acquiring an additional 752 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analyst Upgrades and Downgrades

GIB has been the subject of a number of analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of CGI Group in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of CGI Group in a report on Monday, December 29th. Cibc Captl Mkts downgraded shares of CGI Group from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Scotiabank started coverage on shares of CGI Group in a research report on Tuesday, January 27th. They set a “sector perform” rating on the stock. Finally, TD Securities upgraded shares of CGI Group to a “strong-buy” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $117.00.

CGI Group Stock Up 0.9%

GIB stock opened at $86.53 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $18.96 billion, a PE ratio of 16.20 and a beta of 0.59. CGI Group, Inc. has a 1-year low of $83.75 and a 1-year high of $122.79. The business’s 50 day simple moving average is $90.94 and its 200 day simple moving average is $91.75.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, January 28th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.04). CGI Group had a net margin of 10.25% and a return on equity of 18.61%. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business earned $1.97 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, February 18th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 0.8%. CGI Group’s dividend payout ratio is 8.99%.

CGI Group Profile

CGI Group Inc is a global information technology and business consulting firm that delivers a broad range of services including IT consulting, systems integration, application development and maintenance, infrastructure and network services, managed IT and business process outsourcing. The company works with clients to design, build and operate IT systems and business solutions, with capabilities spanning cloud and hybrid IT environments, cybersecurity, data analytics and artificial intelligence, digital transformation and enterprise resource planning implementations.

Founded in 1976 in Quebec by Serge Godin and André Imbeau, CGI has grown from a regional systems integrator into a multinational professional services organization.