Hudson Portfolio Management LLC Makes New Investment in CGI Group, Inc. $GIB

Hudson Portfolio Management LLC bought a new position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,159 shares of the technology company’s stock, valued at approximately $1,108,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIB. AQR Capital Management LLC acquired a new position in CGI Group during the 1st quarter worth about $347,000. Millennium Management LLC increased its position in CGI Group by 786.2% in the 1st quarter. Millennium Management LLC now owns 81,470 shares of the technology company’s stock valued at $8,141,000 after acquiring an additional 72,277 shares in the last quarter. Jane Street Group LLC increased its position in CGI Group by 29.4% in 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. EverSource Wealth Advisors LLC increased its position in CGI Group by 53.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $152,000 after acquiring an additional 505 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of CGI Group in the third quarter worth about $236,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Group Price Performance

CGI Group stock opened at $72.87 on Thursday. The business’s 50-day simple moving average is $70.40 and its 200 day simple moving average is $70.22. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 12.50 and a beta of 0.47. CGI Group, Inc. has a 12-month low of $59.63 and a 12-month high of $97.50. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 0.28.

CGI Group Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. TD Securities lowered shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of CGI Group in a report on Wednesday, June 24th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, CGI Group has an average rating of “Reduce” and an average price target of $83.67.

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.