CGI Group, Inc. $GIB Stock: TD Waterhouse Canada Inc. Cuts Stake

TD Waterhouse Canada Inc. reduced its position in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 17.8% in the third quarter, Holdings Channel.com reports. The fund owned 588,851 shares of the technology company’s stock after selling 127,740 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in CGI Group were worth $41,567,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Groupe la Francaise grew its position in shares of CGI Group by 0.9% during the 2nd quarter. Groupe la Francaise now owns 1,722,751 shares of the technology company’s stock valued at $111,335,000 after purchasing an additional 14,845 shares in the last quarter. QV Investors Inc. increased its position in shares of CGI Group by 31.2% in the second quarter. QV Investors Inc. now owns 908,728 shares of the technology company’s stock worth $58,716,000 after purchasing an additional 216,086 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of CGI Group by 60.4% in the 2nd quarter. Wellington Management Group LLP now owns 213,433 shares of the technology company’s stock worth $13,791,000 after buying an additional 80,368 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in CGI Group by 14.8% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 58,052 shares of the technology company’s stock valued at $3,956,000 after acquiring an additional 7,500 shares during the last quarter. Finally, Nykredit A S purchased a new position in shares of CGI Group during the 2nd quarter valued at about $2,918,000. 66.68% of the stock is owned by institutional investors.

CGI Group Stock Performance

Shares of GIB opened at $75.31 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 firm has a market capitalization of $15.60 billion, a P/E ratio of 12.92 and a beta of 0.47. The business has a fifty day moving average of $71.93 and a 200 day moving average of $69.72. CGI Group, Inc. has a one year low of $59.63 and a one year high of $95.20.

CGI Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, August 14th were given a C$0.17 dividend. The ex-dividend date was 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%.

Wall Street Analyst Weigh In

GIB has been the topic of several recent research reports. Weiss Ratings lowered shares of CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 6th. Royal Bank Of Canada reissued a “sector perform” rating and set a $100.00 price objective on shares of CGI Group in a research report on Tuesday, October 6th. Finally, TD Securities cut 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 company presently has an average rating of “Reduce” and an average 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.