Nykredit A S Invests $2.92 Million in CGI Group, Inc. $GIB

Key Points

• Nykredit A/S acquired 45,156 CGI Group shares in the second quarter, valued at approximately $2.92 million. Institutional investors collectively own 66.68% of the company.
• CGI shares opened at $73.69, with a market capitalization of $15.26 billion and a 12.64 price-to-earnings ratio. The company declared a quarterly dividend of $0.17 per share, representing a 0.9% annualized yield.
• Analyst sentiment remains cautious: six analysts rate CGI a Hold and one rates it Sell, resulting in a consensus “Reduce” rating and an average price target of $83.67.

Nykredit A S acquired a new position in shares of CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 45,156 shares of the technology company's stock, valued at approximately $2,918,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in CGI Group during the first quarter worth $347,000. Millennium Management LLC grew its stake in shares of CGI Group by 786.2% in the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company's stock valued at $8,141,000 after buying an additional 72,277 shares in the last quarter. Jane Street Group LLC grew its stake in shares of CGI Group by 29.4% in the first quarter. Jane Street Group LLC now owns 12,858 shares of the technology company's stock valued at $1,284,000 after buying an additional 2,921 shares in the last quarter. 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 valued at $152,000 after buying an additional 505 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of CGI Group in the 3rd quarter valued at $236,000. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Stock Performance

Shares of GIB opened at $73.69 on Monday. CGI Group, Inc. has a 1 year low of $59.63 and a 1 year high of $97.50. The stock has a market capitalization of $15.26 billion, a PE ratio of 12.64 and a beta of 0.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a 50-day simple moving average of $70.84 and a 200-day simple moving average of $70.22.

CGI Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GIB shares. TD Securities cut CGI Group from a "buy" rating to a "hold" rating in a report on Thursday, July 23rd. Weiss Ratings reiterated a "sell (d+)" rating on shares of CGI Group in a research note on Wednesday, June 24th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, CGI Group presently has a consensus rating of "Reduce" and an average target price of $83.67.

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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