Versor Investments LP Raises Position in CGI Group, Inc. $GIB

Versor Investments LP increased its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 16.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,499 shares of the technology company’s stock after buying an additional 1,454 shares during the period. Versor Investments LP’s holdings in CGI Group were worth $1,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in CGI Group by 239.5% in the 1st quarter. Fifth Third Bancorp now owns 258 shares of the technology company’s stock worth $26,000 after buying an additional 182 shares during the period. Caitong International Asset Management Co. Ltd boosted 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 worth $100,000 after buying an additional 749 shares during the period. Versant Capital Management Inc boosted its holdings in CGI Group by 371.7% in the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company’s stock worth $105,000 after buying an additional 829 shares during the period. GeoWealth Management LLC boosted its holdings in CGI Group by 80.4% in the 4th quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company’s stock worth $142,000 after buying an additional 579 shares during the period. Finally, Creekmur Asset Management LLC boosted its holdings in CGI Group by 7,051.9% in the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company’s stock worth $193,000 after buying an additional 1,904 shares during the period. 66.68% of the stock is owned by institutional investors.

CGI Group Stock Up 0.1%

Shares of NYSE:GIB opened at $93.91 on Monday. The firm has a fifty day moving average price of $101.91 and a two-hundred day moving average price of $105.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94. CGI Group, Inc. has a one year low of $92.85 and a one year high of $122.79. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.73 and a beta of 0.72.

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

CGI Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from CGI Group’s previous quarterly dividend of $0.11. CGI Group’s payout ratio is presently 7.95%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group cut their price objective on shares of CGI Group from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, July 31st. Royal Bank Of Canada cut their price objective on shares of CGI Group from $185.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CGI Group presently has a consensus rating of “Moderate Buy” and an average target price of $148.25.

CGI Group Company 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.