Royal Bank Of Canada reiterated their sector perform rating on shares of CGI Group (NYSE:GIB – Free Report) (TSE:GIB.A) in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $100.00 target price on the technology company’s stock.
Several other equities analysts have also recently commented on the stock. TD Securities cut shares of CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Weiss Ratings upgraded CGI Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 17th. Seven research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.67.
Check Out Our Latest Stock Analysis on CGI Group
CGI Group Stock Down 2.0%
CGI Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, August 14th were given a dividend of C$0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. CGI Group’s dividend payout ratio (DPR) is presently 8.23%.
Institutional Trading of CGI Group
A number of institutional investors have recently added to or reduced their stakes in GIB. EverSource Wealth Advisors LLC increased its stake in shares of CGI Group by 21.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock worth $98,000 after purchasing an additional 237 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of CGI Group by 48.0% in the 3rd quarter. Versant Capital Management Inc now owns 2,313 shares of the technology company’s stock valued at $158,000 after purchasing an additional 750 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of CGI Group in the 1st quarter valued at $204,000. Glenmede Trust Co. NA boosted its holdings in CGI Group by 38.3% in the first quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock worth $249,000 after purchasing an additional 944 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in CGI Group in the first quarter worth $470,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.
CGI Group Company Profile
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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