CGI Group, Inc. Plans Quarterly Dividend of C$0.17 (NYSE:GIB)

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) announced a quarterly dividend on Tuesday, January 27th. Investors of record on Wednesday, February 18th will be given a dividend of 0.17 per share by the technology company on Friday, March 20th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, February 18th.

CGI Group has a payout ratio of 7.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CGI Group to earn $6.28 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 7.6%.

CGI Group Price Performance

GIB traded down $1.70 during midday trading on Wednesday, reaching $86.53. 881,410 shares of the company’s stock were exchanged, compared to its average volume of 330,484. The company has a quick ratio of 0.72, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The business has a 50-day simple moving average of $91.02 and a two-hundred day simple moving average of $92.16. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of 16.45 and a beta of 0.59. CGI Group has a one year low of $83.75 and a one year high of $122.79.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, November 5th. The technology company reported $1.55 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $1.92 EPS. CGI Group’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts predict that CGI Group will post 5.79 EPS for the current year.

Hedge Funds Weigh In On CGI Group

Institutional investors have recently added to or reduced their stakes in the company. First Horizon Corp acquired a new position in CGI Group in the 3rd quarter valued at $29,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of CGI Group in the 3rd quarter valued at $144,000. EverSource Wealth Advisors LLC raised 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 buying an additional 505 shares in the last quarter. Hughes Financial Services LLC bought a new stake in shares of CGI Group during the 3rd quarter worth $174,000. Finally, Entropy Technologies LP acquired a new stake in CGI Group in the third quarter valued at about $236,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.