American Century Companies Inc. Has $4.16 Million 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. grew its stake in shares of 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 filing with the Securities and Exchange Commission (SEC). The fund owned 41,686 shares of the technology company's stock after acquiring 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 and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in CGI Group by 239.5% during the 1st 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 position in shares of 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 valued at $100,000 after acquiring an additional 749 shares in the last quarter. Versant Capital Management Inc raised its position in shares of CGI Group by 371.7% during the 1st quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company's stock valued at $105,000 after acquiring an additional 829 shares in the last quarter. Creekmur Asset Management LLC raised its position in shares of CGI Group by 7,051.9% during the 1st quarter. Creekmur Asset Management LLC now owns 1,931 shares of the technology company's stock valued at $193,000 after acquiring an additional 1,904 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in CGI Group in the fourth quarter worth $221,000. Institutional investors and hedge funds own 66.68% of the company's stock.

Analyst Ratings Changes

GIB has been the topic of several analyst reports. Royal Bank Of Canada dropped their target price on CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. UBS Group dropped their target price on CGI Group from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $148.25.

CGI Group Stock Up 0.7%

NYSE GIB traded up $0.71 during trading on Monday, reaching $97.13. 241,832 shares of the company's stock were exchanged, compared to its average volume of 344,778. CGI Group, Inc. has a fifty-two week low of $92.85 and a fifty-two week high of $122.79. The firm has a market capitalization of $21.65 billion, a PE ratio of 17.95, a P/E/G ratio of 1.79 and a beta of 0.75. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company's fifty day simple moving average is $99.45 and its 200-day simple moving average is $103.50.

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

CGI Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 15th will be given a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, August 15th. This is a boost from CGI Group's previous quarterly dividend of $0.11. CGI Group's dividend payout ratio is 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.