CGI Group, Inc. (NYSE:GIB – Get Free Report) (TSE:GIB.A) shares gapped up before the market opened on Thursday. The stock had previously closed at $68.03, but opened at $71.91. CGI Group shares last traded at $73.1980, with a volume of 90,151 shares.
Analyst Ratings Changes
GIB has been the topic of several recent analyst reports. Weiss Ratings raised CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 17th. TD Securities cut shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Seven investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.67.
View Our Latest Stock Analysis on CGI Group
CGI Group Stock Up 4.0%
CGI Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 14th were issued a dividend of C$0.17 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. CGI Group’s dividend payout ratio (DPR) is currently 8.23%.
Institutional Investors Weigh In On CGI Group
Several institutional investors have recently made changes to their positions in GIB. Groupe la Francaise lifted its holdings in shares of CGI Group by 0.9% during the 2nd quarter. Groupe la Francaise now owns 1,722,751 shares of the technology company’s stock worth $111,335,000 after acquiring an additional 14,845 shares during the period. QV Investors Inc. increased its holdings in CGI Group by 31.2% in the second 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. Wellington Management Group LLP increased its stake in shares of 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 buying an additional 80,368 shares during the period. Nykredit A S bought a new position in CGI Group during the 2nd quarter worth approximately $2,918,000. Finally, Sequoia Financial Advisors LLC raised its stake in CGI Group by 16.0% during the second quarter. Sequoia Financial Advisors LLC now owns 36,485 shares of the technology company’s stock worth $2,356,000 after buying an additional 5,031 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.
About CGI Group
CGI Inc, formerly known as CGI Group Inc, is a Canadian information technology and business consulting services company headquartered in Montreal, Quebec. Founded in 1976 by Serge Godin and André Imbeau, the company has grown into a global provider of technology and business solutions for commercial and government clients.
CGI’s services include IT and business consulting, systems integration, application development and maintenance, managed IT services, cybersecurity, cloud computing, and business process services.
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