Kepler Cheuvreux Suisse SA lessened its stake in CGI Group, Inc. (NYSE:GIB – Free Report) (TSE:GIB.A) by 71.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 22,616 shares of the technology company’s stock after selling 55,742 shares during the quarter. Kepler Cheuvreux Suisse SA’s holdings in CGI Group were worth $1,653,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Millennium Management LLC increased its stake in shares of CGI Group by 786.2% during the first quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock worth $8,141,000 after buying an additional 72,277 shares during the period. Danske Bank A S purchased a new position in CGI Group in the third quarter worth approximately $768,000. SG Americas Securities LLC purchased a new position in CGI Group in the first quarter worth approximately $470,000. Davis Rea LTD. grew its holdings in CGI Group by 15.9% during the 4th quarter. Davis Rea LTD. now owns 42,200 shares of the technology company’s stock worth $3,900,000 after acquiring an additional 5,779 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in CGI Group during the 1st quarter worth approximately $347,000. 66.68% of the stock is owned by institutional investors and hedge funds.
CGI Group Stock Performance
Shares of GIB opened at $66.44 on Friday. The company has a market capitalization of $14.05 billion, a price-to-earnings ratio of 11.99 and a beta of 0.48. CGI Group, Inc. has a 52-week low of $59.63 and a 52-week high of $106.45. The company has a quick ratio of 0.68, a current ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $66.29 and a 200 day moving average price of $75.77.
CGI Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, May 15th were paid a $0.17 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. CGI Group’s payout ratio is currently 9.03%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of CGI Group in a report on Wednesday, June 24th. Royal Bank Of Canada downgraded shares of CGI Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $150.00 to $100.00 in a research note on Thursday, April 30th. Finally, UBS Group dropped their target price on CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CGI Group has an average rating of “Hold” and a consensus target price of $83.67.
Check Out Our Latest Report on CGI Group
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.
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