CGI Group, Inc. (GIB) to Distribute Quarterly Dividend of C$0.17 on September 18th

CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, August 14th will be given a dividend of 0.17 per share by the technology company on Friday, September 18th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 14th.

CGI Group has a dividend payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CGI Group to earn $7.13 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 7.0%.

CGI Group Price Performance

GIB opened at $74.75 on Thursday. The stock has a fifty day moving average price of $66.51 and a 200 day moving average price of $72.47. The company has a current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 0.28. CGI Group has a 1 year low of $59.63 and a 1 year high of $103.04. The stock has a market cap of $15.81 billion, a price-to-earnings ratio of 13.49 and a beta of 0.48.

CGI Group (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.05. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.94 billion. CGI Group had a return on equity of 18.72% and a net margin of 10.26%.The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 EPS. Analysts forecast that CGI Group will post 6.54 EPS for the current fiscal year.

Institutional Investors Weigh In On CGI Group

Several hedge funds have recently made changes to their positions in the stock. Ethic Inc. increased its stake in CGI Group by 156.4% during the second quarter. Ethic Inc. now owns 24,785 shares of the technology company’s stock valued at $1,600,000 after acquiring an additional 15,120 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of CGI Group by 38.3% during the 1st quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock worth $249,000 after purchasing an additional 944 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of CGI Group by 21.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock valued at $98,000 after purchasing an additional 237 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of CGI Group in the first quarter valued at $204,000. Finally, SG Americas Securities LLC acquired a new position in shares of CGI Group in the first quarter valued at $470,000. Institutional investors own 66.68% of the company’s stock.

About CGI Group

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.