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

Mufg Securities Canada LTD. lessened its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 296,956 shares of the technology company’s stock after selling 31,998 shares during the quarter. Mufg Securities Canada LTD. owned approximately 0.14% of CGI Group worth $27,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in CGI Group by 53.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after acquiring an additional 505 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of CGI Group during the 3rd quarter valued at about $174,000. Entropy Technologies LP acquired a new position in shares of CGI Group during the 3rd quarter valued at about $236,000. AQR Capital Management LLC acquired a new position in shares of CGI Group during the 1st quarter valued at about $347,000. Finally, Syon Capital LLC increased its holdings in shares of CGI Group by 69.7% during the 3rd quarter. Syon Capital LLC now owns 4,260 shares of the technology company’s stock valued at $380,000 after acquiring an additional 1,749 shares during the last quarter. Institutional investors own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

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

CGI Group Price Performance

Shares of NYSE:GIB opened at $66.63 on Monday. The business has a 50 day moving average price of $69.25 and a 200 day moving average price of $78.39. CGI Group, Inc. has a twelve month low of $60.80 and a twelve month high of $110.01. The company has a market cap of $14.09 billion, a price-to-earnings ratio of 12.03 and a beta of 0.47. The company has a quick ratio of 0.68, a current ratio of 0.95 and a debt-to-equity ratio of 0.28.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its earnings results on Wednesday, April 29th. The technology company reported $1.65 earnings per share for the quarter, meeting the consensus estimate of $1.65. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the company earned $2.12 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts predict that CGI Group, Inc. will post 6.54 earnings per share for the current year.

CGI Group Dividend Announcement

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

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.