Mediolanum International Funds Ltd Purchases 17,448 Shares of CGI Group, Inc. $GIB

Mediolanum International Funds Ltd increased its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 35.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,190 shares of the technology company’s stock after purchasing an additional 17,448 shares during the period. Mediolanum International Funds Ltd’s holdings in CGI Group were worth $5,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. increased its position in CGI Group by 13.0% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,452,820 shares of the technology company’s stock worth $361,881,000 after buying an additional 397,005 shares during the period. Millennium Management LLC increased its position in CGI Group by 786.2% during the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock worth $8,141,000 after acquiring an additional 72,277 shares during the period. Davis Rea LTD. raised its stake in CGI Group by 5.6% in the 2nd quarter. Davis Rea LTD. now owns 34,141 shares of the technology company’s stock worth $3,572,000 after purchasing an additional 1,800 shares in the last quarter. Jane Street Group LLC boosted its holdings in CGI Group by 29.4% in the 1st quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock valued at $1,284,000 after purchasing an additional 2,921 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in CGI Group by 14.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 11,585 shares of the technology company’s stock valued at $1,033,000 after purchasing an additional 1,499 shares during the period. 66.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Cibc Captl Mkts downgraded shares of CGI Group from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. TD Securities raised CGI Group to a “strong-buy” rating in a report on Wednesday, January 28th. Royal Bank Of Canada reiterated an “outperform” rating on shares of CGI Group in a research report on Monday, January 5th. Scotiabank started coverage on CGI Group in a research report on Tuesday, January 27th. They issued a “sector perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CGI Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $117.00.

CGI Group Price Performance

Shares of GIB stock opened at $86.53 on Tuesday. The business has a fifty day simple moving average of $90.94 and a 200 day simple moving average of $91.75. The company has a market cap of $18.96 billion, a P/E ratio of 16.20 and a beta of 0.59. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. CGI Group, Inc. has a twelve month low of $83.75 and a twelve month high of $122.79.

CGI Group (NYSE:GIB) (TSE:GIB.A) last issued its earnings results on Wednesday, January 28th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.04). CGI Group had a return on equity of 18.61% and a net margin of 10.25%.The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the firm posted $1.97 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Wednesday, February 18th will be given a $0.17 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 0.8%. CGI Group’s dividend payout ratio (DPR) is currently 8.99%.

CGI Group Company Profile

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.