CGI Group, Inc. $GIB Shares Sold by Kepler Cheuvreux Suisse SA

Kepler Cheuvreux Suisse SA lessened its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 71.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,616 shares of the technology company’s stock after selling 55,742 shares during the quarter. Kepler Cheuvreux Suisse SA’s holdings in CGI Group were worth $1,653,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in CGI Group during the first quarter worth $347,000. Millennium Management LLC lifted its stake in shares of CGI Group by 786.2% in the 1st quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock valued at $8,141,000 after purchasing an additional 72,277 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of CGI Group by 29.4% during the 1st quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock worth $1,284,000 after purchasing an additional 2,921 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of CGI Group by 53.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock worth $152,000 after purchasing an additional 505 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of CGI Group during the 3rd quarter worth about $236,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GIB has been the topic of several research analyst reports. UBS Group reduced their price objective on shares of CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada downgraded shares of CGI Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $150.00 to $100.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $83.67.

CGI Group Stock Down 0.1%

Shares of GIB opened at $66.44 on Friday. The stock has a market capitalization of $14.05 billion, a PE ratio of 11.99 and a beta of 0.48. CGI Group, Inc. has a 1 year low of $59.63 and a 1 year high of $106.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.68 and a current ratio of 0.95. The company’s 50-day simple moving average is $66.29 and its 200-day simple moving average is $75.77.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.65 EPS for the quarter, meeting the consensus estimate of $1.65. CGI Group had a net margin of 10.26% and a return on equity of 18.72%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the firm posted $2.12 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts forecast that CGI Group, Inc. will post 6.54 earnings per share for the current fiscal year.

CGI Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 15th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, May 15th. CGI Group’s dividend payout ratio (DPR) is presently 9.03%.

About CGI Group

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.