American Century Companies Inc. Increases Stock Holdings in CGI Group, Inc. $GIB

American Century Companies Inc. grew its position in CGI Group, Inc. (NYSE:GIB) (TSE:GIB.A) by 49.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,686 shares of the technology company’s stock after buying an additional 13,827 shares during the quarter. American Century Companies Inc.’s holdings in CGI Group were worth $4,162,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Ethic Inc. increased its position in shares of CGI Group by 26.7% in the first quarter. Ethic Inc. now owns 6,340 shares of the technology company’s stock valued at $639,000 after buying an additional 1,336 shares in the last quarter. Robotti Robert increased its position in shares of CGI Group by 8.0% in the first quarter. Robotti Robert now owns 13,500 shares of the technology company’s stock valued at $1,348,000 after buying an additional 1,000 shares in the last quarter. Neuberger Berman Group LLC increased its position in CGI Group by 23.0% during the 1st quarter. Neuberger Berman Group LLC now owns 63,407 shares of the technology company’s stock worth $6,329,000 after purchasing an additional 11,868 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in CGI Group by 292.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,005 shares of the technology company’s stock worth $100,000 after purchasing an additional 749 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its position in CGI Group by 2,793.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 11,633 shares of the technology company’s stock worth $1,161,000 after purchasing an additional 11,231 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GIB. UBS Group dropped their price objective on CGI Group from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their price objective on CGI Group from $185.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $148.25.

CGI Group Stock Up 0.7%

GIB opened at $97.13 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.77 and a beta of 0.72. The business has a 50-day moving average of $99.45 and a two-hundred day moving average of $103.75. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79.

CGI Group (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.51 by $0.01. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $4.01 billion. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.91 EPS. On average, research analysts expect that CGI Group, Inc. will post 5.79 earnings per share for the current year.

CGI Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be issued a $0.1086 dividend. This is a positive change from CGI Group’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, August 15th. This represents a $0.43 annualized dividend and a yield of 0.4%. CGI Group’s dividend payout ratio (DPR) is presently 7.95%.

CGI Group Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.