QV Investors Inc. Buys 216,086 Shares of CGI Group, Inc. $GIB

QV Investors Inc. lifted its stake in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 31.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 908,728 shares of the technology company’s stock after buying an additional 216,086 shares during the quarter. CGI Group accounts for about 4.5% of QV Investors Inc.’s holdings, making the stock its 5th biggest holding. QV Investors Inc.’s holdings in CGI Group were worth $58,716,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GIB. Wellington Management Group LLP increased 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 buying an additional 80,368 shares during the last quarter. Millennium Management LLC lifted its holdings in CGI Group by 786.2% during the 1st 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 last quarter. Kepler Cheuvreux Suisse SA increased its holdings in shares of CGI Group by 7.5% in the 4th quarter. Kepler Cheuvreux Suisse SA now owns 78,358 shares of the technology company’s stock valued at $7,232,000 after acquiring an additional 5,457 shares during the last quarter. Ethic Inc. raised its position in shares of CGI Group by 156.4% during the 2nd quarter. Ethic Inc. now owns 24,785 shares of the technology company’s stock valued at $1,600,000 after acquiring an additional 15,120 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of CGI Group by 29.4% during the 1st quarter. Jane Street Group LLC now owns 12,858 shares of the technology company’s stock valued at $1,284,000 after acquiring an additional 2,921 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of CGI Group in a 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 investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $83.67.

CGI Group Price Performance

Shares of NYSE:GIB opened at $74.67 on Monday. The firm’s 50 day moving average is $69.70 and its two-hundred day moving average is $70.29. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $15.79 billion, a P/E ratio of 12.81 and a beta of 0.46. CGI Group, Inc. has a 52 week low of $59.63 and a 52 week high of $97.50.

CGI Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 14th. CGI Group’s dividend payout ratio (DPR) is 8.23%.

About CGI Group

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.