CGI Group, Inc. $GIB Shares Bought by QV Investors Inc.

Key Points

• QV Investors increased its CGI Group position by 31.2% in the second quarter, owning 908,728 shares valued at approximately $58.7 million, or 4.5% of its portfolio.
• Analyst sentiment remains cautious: CGI Group has a consensus rating of “Reduce”, with six Hold ratings, one Sell rating, and a consensus price target of $83.67.
• CGI Group declared a quarterly dividend of $0.17 per share, equivalent to an annualized $0.68 dividend and a 0.9% yield.

QV Investors Inc. raised its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 31.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 908,728 shares of the technology company's stock after purchasing an additional 216,086 shares during the quarter. CGI Group accounts for approximately 4.5% of QV Investors Inc.'s portfolio, making the stock its 5th largest holding. QV Investors Inc. owned about 0.43% of CGI Group worth $58,716,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Strive Financial Group LLC purchased a new position in CGI Group in the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised its stake in shares of CGI Group by 21.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company's stock valued at $98,000 after acquiring an additional 237 shares during the period. Entropy Technologies LP purchased a new position in shares of CGI Group in the 3rd quarter valued at $236,000. Venturi Wealth Management LLC purchased a new position in shares of CGI Group in the 1st quarter valued at $204,000. Finally, Glenmede Trust Co. NA lifted 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 valued at $249,000 after acquiring an additional 944 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analyst Ratings Changes

GIB has been the subject of several recent research reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of CGI Group in a report on Wednesday, June 24th. TD Securities cut CGI Group from a "buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $83.67.

CGI Group Price Performance

Shares of NYSE GIB opened at $74.67 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. CGI Group, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $97.50. The business has a 50 day moving average price of $69.70 and a two-hundred day moving average price of $70.29. The firm has a market cap of $15.79 billion, a PE ratio of 12.81 and a beta of 0.46.

CGI Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. CGI Group's dividend payout ratio (DPR) is presently 8.23%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source