CGI Group, Inc. $GIB Shares Purchased by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. raised its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 13.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,452,820 shares of the technology company’s stock after purchasing an additional 397,005 shares during the period. CGI Group comprises approximately 2.1% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 21st largest holding. Beutel Goodman & Co Ltd.’s holdings in CGI Group were worth $361,881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. SVB Wealth LLC acquired a new stake in shares of CGI Group during the first quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd boosted its stake in CGI Group by 292.6% during 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 acquiring an additional 749 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 505 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of CGI Group in the 1st quarter worth about $204,000. Finally, Yousif Capital Management LLC raised its stake in shares of CGI Group by 8.1% in the 2nd quarter. Yousif Capital Management LLC now owns 2,591 shares of the technology company’s stock valued at $272,000 after purchasing an additional 195 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GIB has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $81.00 price target (down previously from $105.00) on shares of CGI Group in a research report on Monday, November 10th. Royal Bank Of Canada dropped their price objective on shares of CGI Group from $175.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of CGI Group in a research report on Monday. Finally, TD Securities raised CGI Group to a “strong-buy” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CGI Group currently has an average rating of “Moderate Buy” and an average target price of $117.00.

CGI Group Price Performance

Shares of NYSE:GIB opened at $91.55 on Friday. The stock has a market capitalization of $20.41 billion, a P/E ratio of 17.40 and a beta of 0.61. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.72. The business has a 50-day moving average of $88.10 and a two-hundred day moving average of $96.19. CGI Group, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $122.79.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, November 5th. The technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. CGI Group had a return on equity of 18.55% and a net margin of 10.41%.The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts predict that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be given a $0.17 dividend. The ex-dividend date is Friday, November 21st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from CGI Group’s previous quarterly dividend of $0.11. CGI Group’s dividend payout ratio is 9.13%.

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.