6,296 CGI Group, Inc. $GIB Shares Purchased by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC raised its holdings in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,553 shares of the technology company’s stock after buying an additional 6,296 shares during the period. Cardinal Point Capital Management ULC owned approximately 0.06% of CGI Group worth $8,903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 in the last quarter. Net Worth Advisory Group lifted its holdings in CGI Group by 6.1% during the 3rd quarter. Net Worth Advisory Group now owns 4,976 shares of the technology company’s stock worth $353,000 after buying an additional 285 shares during the last quarter. Tidal Investments LLC lifted its holdings in CGI Group by 5.4% during the 2nd quarter. Tidal Investments LLC now owns 14,457 shares of the technology company’s stock worth $933,000 after buying an additional 739 shares during the last quarter. Versant Capital Management Inc raised 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 worth $158,000 after acquiring an additional 750 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of CGI Group by 10.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,378 shares of the technology company’s stock valued at $570,000 after buying an additional 762 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIB has been the subject of a number of research reports. TD Securities cut shares of CGI Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Weiss Ratings cut shares of CGI Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $100.00 price objective on shares of CGI Group in a research note on Tuesday, October 6th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $83.67.

CGI Group Stock Up 0.7%

Shares of NYSE GIB opened at $79.56 on Thursday. 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 firm has a 50-day moving average price of $72.14 and a 200 day moving average price of $69.81. CGI Group, Inc. has a 52 week low of $59.63 and a 52 week high of $95.20. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of 13.65 and a beta of 0.47.

CGI Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, August 14th were issued a C$0.17 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.68 annualized dividend and a yield of 0.9%. CGI Group’s dividend payout ratio is 8.23%.

About CGI Group

CGI Inc, formerly known as CGI Group, is a Canadian information technology and business consulting company headquartered in Montreal, Quebec. Founded in 1976, the company provides technology and business solutions to organizations in the private and public sectors.

CGI’s services include business and IT consulting, systems integration, application development and management, cloud computing, cybersecurity, data analytics, digital transformation, and managed IT services. The company also develops and supports proprietary software and industry-specific solutions for areas such as financial services, government, healthcare, manufacturing, telecommunications, utilities, and retail.

CGI serves clients through operations across North America, Europe, and the Asia-Pacific region.