Groupe la Francaise Acquires 14,845 Shares of CGI Group, Inc. $GIB

Groupe la Francaise lifted its holdings in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 0.9% in the second quarter, HoldingsChannel.com reports. The fund owned 1,722,751 shares of the technology company’s stock after acquiring an additional 14,845 shares during the period. CGI Group makes up 1.3% of Groupe la Francaise’s investment portfolio, making the stock its 15th largest position. Groupe la Francaise’s holdings in CGI Group were worth $111,335,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GIB. Strive Financial Group LLC purchased a new position in CGI Group in the fourth quarter worth $37,000. EverSource Wealth Advisors LLC increased its position 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 valued at $98,000 after purchasing an additional 237 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of CGI Group during the 1st quarter valued at $204,000. Entropy Technologies LP bought a new stake in shares of CGI Group during the 3rd quarter worth $236,000. Finally, Glenmede Trust Co. NA raised its stake in shares of CGI Group by 38.3% during the 1st 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 during the period. 66.68% of the stock is currently owned by institutional investors.

CGI Group Stock Up 0.1%

Shares of NYSE GIB opened at $73.69 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.66. The stock has a market capitalization of $15.26 billion, a PE ratio of 12.64 and a beta of 0.47. CGI Group, Inc. has a one year low of $59.63 and a one year high of $97.50. The business’s fifty day moving average price is $70.84 and its 200-day moving average price is $70.22.

CGI Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 14th. CGI Group’s payout ratio is currently 8.23%.

Analyst Ratings Changes

Several equities analysts recently weighed in on GIB shares. Weiss Ratings restated a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th. TD Securities lowered 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $83.67.

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.