Farther Finance Advisors LLC Acquires 744 Shares of CGI Group, Inc. $GIB

Farther Finance Advisors LLC lifted its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,086 shares of the technology company’s stock after purchasing an additional 744 shares during the period. Farther Finance Advisors LLC’s holdings in CGI Group were worth $1,057,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Royal Bank of Canada raised its stake in shares of CGI Group by 10.1% during the 1st quarter. Royal Bank of Canada now owns 8,151,753 shares of the technology company’s stock worth $813,792,000 after purchasing an additional 747,918 shares during the period. Vanguard Group Inc. raised its stake in shares of CGI Group by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company’s stock worth $802,338,000 after purchasing an additional 94,266 shares during the period. Federation des caisses Desjardins du Quebec raised its stake in shares of CGI Group by 22.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 4,933,984 shares of the technology company’s stock worth $491,725,000 after purchasing an additional 907,876 shares during the period. Mackenzie Financial Corp raised its stake in shares of CGI Group by 0.9% during the 1st quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company’s stock worth $474,702,000 after purchasing an additional 41,631 shares during the period. Finally, Fiera Capital Corp raised its stake in shares of CGI Group by 2.1% during the 1st quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company’s stock worth $437,770,000 after purchasing an additional 89,458 shares during the period. 66.68% of the stock is currently owned by institutional investors.

CGI Group Trading Up 0.9%

Shares of CGI Group stock opened at $91.64 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.27. The stock has a market capitalization of $20.43 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.67 and a beta of 0.75. CGI Group, Inc. has a 52-week low of $90.31 and a 52-week high of $122.79. The stock’s 50-day simple moving average is $96.02 and its 200 day simple moving average is $101.50.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted 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. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 EPS. As a group, research analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current 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 issued a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from CGI Group’s previous quarterly dividend of $0.11. CGI Group’s payout ratio is presently 7.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GIB shares. Royal Bank Of Canada lowered their target price on CGI Group from $185.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. UBS Group lowered their price objective on CGI Group from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, CGI Group currently has a consensus rating of “Buy” and a consensus price target 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.