Wellington Management Group LLP Raises Holdings in CGI Group, Inc. $GIB

Wellington Management Group LLP increased its position in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 60.4% in the 2nd quarter, Holdings Channel reports. The firm owned 213,433 shares of the technology company’s stock after buying an additional 80,368 shares during the period. Wellington Management Group LLP’s holdings in CGI Group were worth $13,791,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Millennium Management LLC grew its stake 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. Ethic Inc. lifted its stake in CGI Group by 156.4% in the second quarter. Ethic Inc. now owns 24,785 shares of the technology company’s stock valued at $1,600,000 after buying an additional 15,120 shares during the last quarter. Danske Bank A S purchased a new stake in CGI Group in the third quarter valued at approximately $768,000. SG Americas Securities LLC acquired a new stake in shares of CGI Group in the first quarter valued at approximately $470,000. Finally, Kepler Cheuvreux Suisse SA grew its position in shares of CGI Group by 7.5% during the fourth quarter. Kepler Cheuvreux Suisse SA now owns 78,358 shares of the technology company’s stock worth $7,232,000 after acquiring an additional 5,457 shares during the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Group Stock Performance

NYSE:GIB opened at $73.69 on Tuesday. CGI Group, Inc. has a fifty-two week low of $59.63 and a fifty-two week 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. The stock has a market cap of $15.26 billion, a PE ratio of 12.64 and a beta of 0.47. The firm’s fifty day simple moving average is $71.04 and its 200-day simple moving average is $70.22.

CGI Group Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings reiterated 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 research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CGI Group presently has a consensus rating of “Reduce” and a consensus 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.