Robotti Robert Increases Stake in CGI Group, Inc. (NYSE:GIB)

Robotti Robert raised its position in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 8.0% during the first quarter, HoldingsChannel reports. The firm owned 13,500 shares of the technology company’s stock after purchasing an additional 1,000 shares during the period. Robotti Robert’s holdings in CGI Group were worth $1,348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC lifted its holdings in CGI Group by 23.0% in the 1st quarter. Neuberger Berman Group LLC now owns 63,407 shares of the technology company’s stock valued at $6,329,000 after purchasing an additional 11,868 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in CGI Group by 292.6% in 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 purchasing an additional 749 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in CGI Group by 2,793.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 11,633 shares of the technology company’s stock valued at $1,161,000 after purchasing an additional 11,231 shares in the last quarter. Callan Family Office LLC lifted its holdings in CGI Group by 4.4% in the 1st quarter. Callan Family Office LLC now owns 3,284 shares of the technology company’s stock valued at $328,000 after purchasing an additional 139 shares in the last quarter. Finally, Nuveen LLC purchased a new position in CGI Group in the 1st quarter valued at $16,126,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

CGI Group Stock Up 1.7%

Shares of GIB opened at $95.61 on Thursday. CGI Group, Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The company has a market capitalization of $21.31 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.73 and a beta of 0.72. The stock has a fifty day simple moving average of $102.47 and a two-hundred day simple moving average of $105.62. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, July 30th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company earned $1.91 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities analysts forecast 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 will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be given a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from CGI Group’s previous quarterly dividend of $0.11. CGI Group’s dividend payout ratio is 7.95%.

Analyst Ratings Changes

GIB has been the topic of a number of research reports. Royal Bank Of Canada decreased their price objective on CGI Group from $185.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. UBS Group cut their target price 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.25.

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.