91,096 Shares in CGI Group, Inc. $GIB Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new position in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 91,096 shares of the technology company’s stock, valued at approximately $9,098,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vontobel Holding Ltd. lifted its stake in CGI Group by 1.7% in the first quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company’s stock worth $613,000 after purchasing an additional 100 shares during the last quarter. Townsquare Capital LLC lifted its stake in CGI Group by 3.7% in the first quarter. Townsquare Capital LLC now owns 2,870 shares of the technology company’s stock worth $287,000 after purchasing an additional 102 shares during the last quarter. First Affirmative Financial Network lifted its stake in CGI Group by 3.8% in the first quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company’s stock worth $290,000 after purchasing an additional 106 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in CGI Group by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company’s stock worth $1,380,000 after purchasing an additional 115 shares during the last quarter. Finally, Callan Family Office LLC lifted its stake in CGI Group by 4.4% in the first quarter. Callan Family Office LLC now owns 3,284 shares of the technology company’s stock worth $328,000 after purchasing an additional 139 shares during the last quarter. 66.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank Of Canada lowered their price target on shares of 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 lowered their price target on shares of CGI Group from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, CGI Group presently has a consensus rating of “Buy” and a consensus price target of $148.25.

CGI Group Stock Performance

Shares of NYSE:GIB opened at $97.13 on Tuesday. The company has a market cap of $21.65 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.79 and a beta of 0.75. The company has a 50-day moving average price of $99.27 and a 200-day moving average price of $103.34. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79.

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

CGI Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 15th will be paid a $0.1086 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from CGI Group’s previous quarterly dividend of $0.11. This represents a $0.43 dividend on an annualized basis and a yield of 0.4%. 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.