CGI Group, Inc. $GIB Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 60.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,433 shares of the technology company's stock after buying an additional 80,368 shares during the period. Wellington Management Group LLP owned about 0.10% of CGI Group worth $13,791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of GIB. Strive Financial Group LLC purchased a new stake in shares of CGI Group in the 4th quarter valued at $37,000. EverSource Wealth Advisors LLC boosted its holdings in CGI Group by 21.6% during 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 acquired a new position in CGI Group in the 3rd quarter valued at about $236,000. Venturi Wealth Management LLC acquired a new position in CGI Group in the 1st quarter valued at about $204,000. Finally, Glenmede Trust Co. NA increased its stake in CGI Group by 38.3% during the first 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 during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Price Performance

GIB stock opened at $73.69 on Tuesday. The business has a 50 day moving average price of $71.04 and a 200 day moving average price of $70.22. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The stock has a market cap of $15.26 billion, a price-to-earnings ratio of 12.64 and a beta of 0.47. CGI Group, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $97.50.

CGI Group Dividend Announcement

The business also recently disclosed 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. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 14th. CGI Group's payout ratio is currently 8.23%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Securities cut shares of CGI Group from a "buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Weiss Ratings restated a "sell (d+)" rating on shares of CGI Group in a report on Wednesday, June 24th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CGI Group presently has an average rating of "Reduce" and an average price target of $83.67.

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.

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