Ethic Inc. Has $1.60 Million Holdings in CGI Group, Inc. $GIB

Ethic Inc. increased its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 156.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 24,785 shares of the technology company’s stock after buying an additional 15,120 shares during the period. Ethic Inc.’s holdings in CGI Group were worth $1,600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GIB. Strive Financial Group LLC acquired a new position in CGI Group in the fourth quarter valued at $37,000. EverSource Wealth Advisors LLC grew its holdings in CGI Group by 21.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock worth $98,000 after acquiring an additional 237 shares during the period. Entropy Technologies LP acquired a new stake in CGI Group during the 3rd quarter worth about $236,000. Venturi Wealth Management LLC bought a new position in shares of CGI Group in the 1st quarter worth about $204,000. Finally, Glenmede Trust Co. NA raised its position in shares of CGI Group by 38.3% in the 1st quarter. Glenmede Trust Co. NA now owns 3,409 shares of the technology company’s stock worth $249,000 after acquiring an additional 944 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analysts Set New Price Targets

GIB has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of CGI Group in a research report on Wednesday, June 24th. Royal Bank Of Canada cut CGI Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $150.00 to $100.00 in a research note on Thursday, April 30th. TD Securities downgraded CGI Group from a “buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, UBS Group dropped their price target on CGI Group from $79.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $83.67.

CGI Group Stock Performance

Shares of GIB opened at $74.72 on Friday. 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 50-day moving average of $67.87 and a 200-day moving average of $71.11. The company has a market cap of $15.80 billion, a PE ratio of 12.82 and a beta of 0.46. CGI Group, Inc. has a one year low of $59.63 and a one year high of $97.55.

CGI Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 14th will be issued a $0.17 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.68 annualized dividend and a yield of 0.9%. CGI Group’s dividend payout ratio is presently 8.58%.

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.