Mn Services Vermogensbeheer B.V. Buys 7,500 Shares of CGI Group, Inc. $GIB

Mn Services Vermogensbeheer B.V. lifted its position in shares of CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 14.8% during the third quarter, Holdings Channel.com reports. The firm owned 58,052 shares of the technology company’s stock after acquiring an additional 7,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in CGI Group were worth $3,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in CGI Group by 21.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,334 shares of the technology company’s stock valued at $98,000 after buying an additional 237 shares during the period. Versant Capital Management Inc grew its position in shares of CGI Group by 48.0% during the 3rd quarter. Versant Capital Management Inc now owns 2,313 shares of the technology company’s stock valued at $158,000 after acquiring an additional 750 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of CGI Group in the 1st quarter valued at about $204,000. Glenmede Trust Co. NA increased its stake 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 valued at $249,000 after purchasing an additional 944 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in CGI Group in the 1st quarter worth about $470,000. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Group Trading Up 0.7%

Shares of CGI Group stock opened at $70.17 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’s 50 day simple moving average is $72.00 and its 200-day simple moving average is $69.70. The stock has a market cap of $14.53 billion, a P/E ratio of 12.04 and a beta of 0.47. CGI Group, Inc. has a 1-year low of $59.63 and a 1-year high of $95.20.

CGI Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 14th were paid a C$0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. CGI Group’s dividend payout ratio is 8.23%.

Wall Street Analysts Forecast Growth

GIB has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $100.00 price target on shares of CGI Group in a research report on Tuesday. Weiss Ratings downgraded CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Finally, TD Securities lowered CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CGI Group has a consensus rating of “Reduce” and a consensus price target of $83.67.

About CGI Group

CGI Inc, formerly known as CGI Group Inc, is a Canadian information technology and business consulting services company headquartered in Montreal, Quebec. Founded in 1976 by Serge Godin and André Imbeau, the company has grown into a global provider of technology and business solutions for commercial and government clients.

CGI’s services include IT and business consulting, systems integration, application development and maintenance, managed IT services, cybersecurity, cloud computing, and business process services.