Neuberger Berman Group LLC Grows Position in CGI Group, Inc. $GIB

Key Points

• Neuberger Berman Group LLC increased its stake in CGI Group, Inc. by 23.0%, owning a total of 63,407 shares valued at approximately $6.33 million.
• CGI Group's stock price recently declined by 2.0% and has a current market capitalization of $20.91 billion, with a price-to-earnings ratio of 17.34.
• The company reported $1.52 earnings per share in its last quarter, beating analyst expectations, yet its revenue fell short of projections with $3 billion reported against an expected $4.01 billion.

Neuberger Berman Group LLC raised its holdings in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 23.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,407 shares of the technology company's stock after purchasing an additional 11,868 shares during the quarter. Neuberger Berman Group LLC's holdings in CGI Group were worth $6,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of CGI Group by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,037,045 shares of the technology company's stock valued at $802,338,000 after purchasing an additional 94,266 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of CGI Group by 0.9% in the first quarter. Mackenzie Financial Corp now owns 4,755,285 shares of the technology company's stock valued at $474,702,000 after purchasing an additional 41,631 shares during the period. Fiera Capital Corp grew its position in shares of CGI Group by 2.1% during the first quarter. Fiera Capital Corp now owns 4,380,743 shares of the technology company's stock worth $437,770,000 after buying an additional 89,458 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of CGI Group by 7.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,028,147 shares of the technology company's stock worth $202,470,000 after purchasing an additional 133,750 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of CGI Group by 18.6% in the 4th quarter. Hsbc Holdings PLC now owns 1,032,579 shares of the technology company's stock worth $112,913,000 after acquiring an additional 161,821 shares during the period. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analyst Ratings Changes

GIB has been the topic of several recent analyst reports. Royal Bank Of Canada cut their target price on shares of CGI Group from $185.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. UBS Group reduced their price objective on shares of 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 given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $148.25.

CGI Group Trading Up 0.9%

NYSE GIB traded up $0.88 during trading hours on Tuesday, reaching $94.97. The company's stock had a trading volume of 203,198 shares, compared to its average volume of 282,679. The firm has a fifty day simple moving average of $101.63 and a 200-day simple moving average of $105.02. The stock has a market cap of $21.17 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.73 and a beta of 0.72. CGI Group, Inc. has a 52 week low of $92.85 and a 52 week high of $122.79. 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 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. CGI Group had a net margin of 11.01% and a return on equity of 18.53%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business posted $1.91 EPS. CGI Group's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts forecast that CGI Group, Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.1086 per share. 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 dividend yield of 0.5%. CGI Group's payout ratio is presently 7.95%.

About CGI Group

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.