Hudson Portfolio Management LLC Takes Position in CGI Group, Inc. $GIB

Key Points

• Hudson Portfolio Management initiated a position in CGI Group during the second quarter, buying 17,159 shares valued at approximately $1.1 million. Institutional investors collectively own 66.68% of the company.
• Analyst sentiment remains cautious: CGI has a consensus rating of “Reduce”, with six analysts rating it Hold and one rating it Sell. The consensus price target is $83.67.
• CGI Group declared a quarterly dividend of $0.17 per share, equivalent to $0.68 annually and a 0.9% yield; shares recently opened at $72.87.

Hudson Portfolio Management LLC bought a new stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,159 shares of the technology company's stock, valued at approximately $1,108,000.

Several other hedge funds have also recently added to or reduced their stakes in GIB. Ethic Inc. boosted its holdings 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 purchasing an additional 15,120 shares in the last quarter. QV Investors Inc. grew its stake in shares of CGI Group by 31.2% in the 2nd quarter. QV Investors Inc. now owns 908,728 shares of the technology company's stock valued at $58,716,000 after purchasing an additional 216,086 shares during the period. Entropy Technologies LP acquired a new position in shares of CGI Group in the 3rd quarter worth approximately $236,000. EverSource Wealth Advisors LLC raised its holdings in shares of CGI Group by 53.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company's stock worth $152,000 after buying an additional 505 shares in the last quarter. Finally, Strive Financial Group LLC bought a new position in shares of CGI Group during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 66.68% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CGI Group in a research note on Wednesday, June 24th. TD Securities lowered CGI Group from a "buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CGI Group presently has a consensus rating of "Reduce" and a consensus target price of $83.67.

CGI Group Price Performance

NYSE:GIB opened at $72.87 on Thursday. The firm has a market cap of $15.41 billion, a PE ratio of 12.50 and a beta of 0.47. CGI Group, Inc. has a 12 month low of $59.63 and a 12 month high of $97.50. 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 company's 50-day moving average price is $70.40 and its two-hundred day moving average price is $70.22.

CGI Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be paid a $0.17 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. CGI Group's payout ratio is 8.23%.

CGI Group 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.

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