CGI Group, Inc. (NYSE:GIB) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 10.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,197 shares of the technology company’s stock after acquiring an additional 6,752 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CGI Group were worth $7,209,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of CGI Group by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 289,654 shares of the technology company’s stock worth $31,665,000 after purchasing an additional 1,409 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in CGI Group by 46.7% in the 4th quarter. Jones Financial Companies Lllp now owns 7,238 shares of the technology company’s stock worth $791,000 after buying an additional 2,304 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in CGI Group during the 4th quarter worth approximately $925,000. Andra AP fonden raised its holdings in shares of CGI Group by 45.1% during the fourth quarter. Andra AP fonden now owns 128,500 shares of the technology company’s stock valued at $14,048,000 after acquiring an additional 39,935 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of CGI Group during the fourth quarter valued at approximately $83,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Group Stock Up 0.9%

Shares of NYSE GIB opened at $106.19 on Friday. The stock has a market cap of $23.83 billion, a PE ratio of 19.34, a P/E/G ratio of 1.98 and a beta of 0.76. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. CGI Group, Inc. has a 12-month low of $92.85 and a 12-month high of $122.79. The company has a 50-day moving average of $106.73 and a 200 day moving average of $107.58.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). CGI Group had a net margin of 11.53% and a return on equity of 18.86%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the company earned $1.97 earnings per share. CGI Group’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts predict that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 16th were issued a $0.1086 dividend. This is a boost from CGI Group’s previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, May 16th. CGI Group’s dividend payout ratio is presently 7.83%.

Analyst Ratings Changes

Separately, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $192.00 price target on shares of CGI Group in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $156.75.

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.