Mufg Securities Canada LTD. Sells 31,998 Shares of CGI Group, Inc. $GIB

Mufg Securities Canada LTD. decreased its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 296,956 shares of the technology company’s stock after selling 31,998 shares during the quarter. Mufg Securities Canada LTD.’s holdings in CGI Group were worth $27,435,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kepler Cheuvreux Suisse SA lifted its position in shares of CGI Group by 7.5% in the 4th quarter. Kepler Cheuvreux Suisse SA now owns 78,358 shares of the technology company’s stock worth $7,232,000 after acquiring an additional 5,457 shares during the period. Ethic Inc. lifted its position in shares of CGI Group by 13.4% in the 4th quarter. Ethic Inc. now owns 9,804 shares of the technology company’s stock worth $905,000 after acquiring an additional 1,158 shares during the period. Crestwood Advisors Group LLC lifted its position in shares of CGI Group by 14.2% in the 4th quarter. Crestwood Advisors Group LLC now owns 4,606 shares of the technology company’s stock worth $425,000 after acquiring an additional 572 shares during the period. Danske Bank A S lifted its position in shares of CGI Group by 24.1% in the 4th quarter. Danske Bank A S now owns 10,834 shares of the technology company’s stock worth $1,002,000 after acquiring an additional 2,103 shares during the period. Finally, Davis Rea LTD. lifted its position in shares of CGI Group by 15.9% in the 4th quarter. Davis Rea LTD. now owns 42,200 shares of the technology company’s stock worth $3,900,000 after acquiring an additional 5,779 shares during the period. Institutional investors own 66.68% of the company’s stock.

CGI Group Price Performance

CGI Group stock opened at $66.63 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.68. The company has a market capitalization of $14.09 billion, a PE ratio of 12.03 and a beta of 0.47. CGI Group, Inc. has a one year low of $60.80 and a one year high of $110.01. The business has a 50 day simple moving average of $69.25 and a 200 day simple moving average of $78.39.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.65 EPS for the quarter, hitting the consensus estimate of $1.65. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.05 billion. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.CGI Group’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $2.12 EPS. On average, sell-side analysts forecast that CGI Group, Inc. will post 6.54 EPS for the current fiscal year.

CGI Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, May 15th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th. CGI Group’s dividend payout ratio (DPR) is 9.03%.

Wall Street Analyst Weigh In

GIB has been the subject of a number of research reports. Weiss Ratings downgraded CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. UBS Group reduced their price objective on CGI Group from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada downgraded CGI Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $150.00 to $100.00 in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.67.

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.