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

Key Points

• American Century Companies Inc. increased its stock holdings in CGI Group, Inc. by 49.6% during the first quarter, owning a total of 41,686 shares valued at approximately $4.16 million.
• CGI Group recently declared a quarterly dividend of $0.1086, an increase from the previous $0.11, reflecting a 0.4% yield for shareholders.
• Analysts have mixed ratings for CGI Group, with a consensus rating of "Buy" and an average target price of $148.25, despite UBS lowering their price objective to $105.00.

American Century Companies Inc. boosted its position in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 49.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,686 shares of the technology company's stock after purchasing 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.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in CGI Group by 239.5% in the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company's stock worth $26,000 after purchasing an additional 182 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in CGI Group by 292.6% in the first 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. Versant Capital Management Inc raised its holdings in CGI Group by 371.7% in the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock worth $105,000 after purchasing an additional 829 shares in the last quarter. Creekmur Asset Management LLC raised its holdings in CGI Group by 7,051.9% in the first quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock worth $193,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in shares of CGI Group during the fourth quarter valued at $221,000. Institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GIB. Royal Bank Of Canada reduced their price target on CGI Group from $185.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. UBS Group reduced their price target on CGI Group from $112.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $148.25.

CGI Group Stock Performance

NYSE GIB traded down $1.06 during trading hours on Thursday, hitting $95.37. The company's stock had a trading volume of 260,022 shares, compared to its average volume of 326,162. CGI Group, Inc. has a 12 month low of $92.85 and a 12 month high of $122.79. The company's 50 day simple moving average is $98.78 and its two-hundred day simple moving average is $103.07. The company has a market cap of $21.26 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.77 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 0.94.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.51 by $0.01. CGI Group had a return on equity of 18.53% and a net margin of 11.01%.The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company earned $1.91 EPS. CGI Group's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts expect that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be given a $0.1086 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from CGI Group's previous quarterly dividend of $0.11. This represents a $0.43 annualized dividend and a yield of 0.5%. CGI Group's payout ratio is 7.95%.

CGI Group 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.