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

Nykredit A S acquired a new stake in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,156 shares of the technology company’s stock, valued at approximately $2,918,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC purchased a new stake in CGI Group during the first quarter worth approximately $347,000. Millennium Management LLC boosted its holdings in 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 purchasing an additional 72,277 shares in the last quarter. Jane Street Group LLC increased its stake in 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 purchasing an additional 2,921 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in CGI Group by 53.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after purchasing an additional 505 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in CGI Group during the third quarter worth approximately $236,000. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th. TD Securities downgraded shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $83.67.

CGI Group Trading Up 0.1%

NYSE GIB opened at $73.69 on Monday. The firm’s fifty day moving average is $70.84 and its two-hundred day moving average is $70.22. CGI Group, Inc. has a one year low of $59.63 and a one year high of $97.50. 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 firm has a market cap of $15.26 billion, a PE ratio of 12.64 and a beta of 0.47.

CGI Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 14th will be given a $0.17 dividend. 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%.

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.