Mackenzie Financial Corp Sells 182,252 Shares of CGI Inc. (NYSE:GIB)

Mackenzie Financial Corp trimmed its holdings in CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,713,654 shares of the technology company's stock after selling 182,252 shares during the period. Mackenzie Financial Corp owned about 2.08% of CGI worth $515,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in shares of CGI in the fourth quarter valued at $62,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of CGI in the fourth quarter valued at $83,000. Hoey Investments Inc. bought a new position in shares of CGI in the fourth quarter valued at $99,000. Blue Trust Inc. lifted its stake in shares of CGI by 47.6% in the fourth quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after buying an additional 375 shares in the last quarter. Finally, GeoWealth Management LLC lifted its position in shares of CGI by 80.4% during the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock valued at $142,000 after purchasing an additional 579 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on GIB. UBS Group boosted their price target on shares of CGI from $118.00 to $122.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and set a $192.00 price target on shares of CGI in a report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $156.75.

CGI Stock Down 1.1%

CGI stock traded down $1.18 during midday trading on Wednesday, hitting $107.09. 191,922 shares of the stock were exchanged, compared to its average volume of 202,087. The stock has a market capitalization of $24.28 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. CGI Inc. has a 52-week low of $92.85 and a 52-week high of $122.79. The business's 50-day moving average price is $103.69 and its 200-day moving average price is $108.52.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. CGI had a return on equity of 19.32% and a net margin of 11.72%. The business's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.97 EPS. On average, research analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 16th will be given a $0.1086 dividend. This is a positive change from CGI's previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. This represents a $0.43 annualized dividend and a yield of 0.41%. CGI's payout ratio is currently 7.47%.

CGI 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.