Nykredit A S Purchases Shares of 35,856 CGI Group, Inc. $GIB

Key Points

• Nykredit A/S purchased 35,856 CGI Group shares in the second quarter, valued at approximately $2.3 million. Institutional investors collectively own 66.68% of the company.
• Analyst sentiment remains cautious: CGI Group has an average “Hold” rating from seven analysts, with an average price target of $83.67. TD Securities downgraded the stock from “Buy” to “Hold,” while Weiss Ratings upgraded it from “Sell” to “Hold.”
• CGI Group shares opened at $69.54, with a market capitalization of $14.4 billion and a price-to-earnings ratio of 11.93. The company pays a quarterly dividend of $0.17 per share, yielding approximately 1.0% annually.

Nykredit A S purchased a new position in shares of 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. The institutional investor purchased 35,856 shares of the technology company's stock, valued at approximately $2,317,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. QV Investors Inc. boosted its stake in CGI Group by 31.2% in the 2nd quarter. QV Investors Inc. now owns 908,728 shares of the technology company's stock worth $58,716,000 after buying an additional 216,086 shares during the last quarter. Wellington Management Group LLP grew its holdings in CGI Group by 60.4% in the second quarter. Wellington Management Group LLP now owns 213,433 shares of the technology company's stock valued at $13,791,000 after purchasing an additional 80,368 shares during the period. Hudson Portfolio Management LLC purchased a new stake in CGI Group in the second quarter valued at approximately $1,108,000. Ethic Inc. increased its position in CGI Group by 156.4% during the second quarter. Ethic Inc. now owns 24,785 shares of the technology company's stock worth $1,600,000 after purchasing an additional 15,120 shares during the last quarter. Finally, Groupe la Francaise increased its position in CGI Group by 0.9% during the second quarter. Groupe la Francaise now owns 1,722,751 shares of the technology company's stock worth $111,335,000 after purchasing an additional 14,845 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GIB. Weiss Ratings upgraded CGI Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, September 17th. TD Securities cut CGI Group from a "buy" rating to a "hold" rating in a report on Thursday, July 23rd. Seven investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, CGI Group currently has an average rating of "Hold" and an average target price of $83.67.

CGI Group Stock Performance

GIB stock opened at $69.54 on Wednesday. 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's fifty day moving average is $71.92 and its two-hundred day moving average is $70.04. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 11.93 and a beta of 0.47. CGI Group, Inc. has a 1 year low of $59.63 and a 1 year high of $95.20.

CGI Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 14th were given a dividend of $0.17 per share. The ex-dividend date was Friday, August 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. CGI Group's dividend payout ratio (DPR) is 8.23%.

CGI Group Company Profile

CGI Group Inc, also known as CGI, is a global information technology and business consulting company. It provides consulting, systems integration, application development and maintenance, managed IT services, and business process services to organizations in the public and private sectors.

The company helps clients with digital transformation, cloud computing, cybersecurity, enterprise resource planning, data and analytics, and modernization of legacy systems. CGI also develops and supports industry-specific software and technology solutions for areas such as government, financial services, telecommunications, healthcare, manufacturing, utilities, and transportation.

CGI was founded in 1976 in Montreal, Quebec, by Serge Godin and André Imbeau.

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