Davis Rea LTD. Buys 1,800 Shares of CGI Group, Inc. $GIB

Davis Rea LTD. lifted its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 5.6% during the 2nd quarter, Holdings Channel reports. The firm owned 34,141 shares of the technology company’s stock after purchasing an additional 1,800 shares during the period. Davis Rea LTD.’s holdings in CGI Group were worth $3,572,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of CGI Group by 9,881.5% during the first quarter. GAMMA Investing LLC now owns 2,695 shares of the technology company’s stock worth $269,000 after purchasing an additional 2,668 shares during the period. Fifth Third Bancorp increased its holdings in shares of CGI Group by 239.5% during the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company’s stock worth $26,000 after purchasing an additional 182 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of CGI Group by 1.7% during 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 period. Goldman Sachs Group Inc. increased its holdings in shares of 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 during the period. Finally, QRG Capital Management Inc. bought a new position in shares of CGI Group during the first quarter worth approximately $494,000. 66.68% of the stock is owned by institutional investors.

CGI Group Stock Performance

NYSE GIB opened at $88.79 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $19.79 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 1.54 and a beta of 0.73. The firm’s 50 day simple moving average is $93.70 and its 200 day simple moving average is $100.48. CGI Group, Inc. has a 1 year low of $87.26 and a 1 year high of $122.79.

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 for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business posted $1.91 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were given a $0.1086 dividend. 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 0.5%. The ex-dividend date was Friday, August 15th. CGI Group’s dividend payout ratio (DPR) is 7.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. UBS Group lowered their target price on shares of CGI Group from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. TD Securities upgraded shares of CGI Group to a “strong-buy” rating in a research report on Friday, October 3rd. Royal Bank Of Canada reduced their price target on shares of CGI Group from $185.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CGI Group in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, CGI Group presently has an average rating of “Buy” and a consensus 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.