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

Mackenzie Financial Corp trimmed its stake in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Other large investors have also recently bought and sold shares of the company. Barclays PLC increased its position in CGI by 182.6% in the 3rd quarter. Barclays PLC now owns 476,758 shares of the technology company's stock worth $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in CGI by 3.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 15,492 shares of the technology company's stock valued at $1,694,000 after buying an additional 529 shares during the last quarter. Blue Trust Inc. grew its holdings in CGI by 47.6% in the 4th 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 during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of CGI during the 4th quarter worth approximately $1,738,000. Finally, KFA Private Wealth Group LLC grew its holdings in shares of CGI by 120.9% during the 4th quarter. KFA Private Wealth Group LLC now owns 12,350 shares of the technology company's stock worth $1,350,000 after purchasing an additional 6,760 shares in the last quarter. 66.68% of the stock is owned by institutional investors and hedge funds.

CGI Price Performance

GIB traded up $0.49 during trading on Thursday, hitting $107.59. The company's stock had a trading volume of 69,269 shares, compared to its average volume of 201,190. The firm's 50 day moving average price is $103.85 and its two-hundred day moving average price is $108.51. 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 12 month low of $92.85 and a 12 month high of $122.79. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78.

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

CGI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 16th will be given a dividend of $0.1086 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.40%. This is an increase from CGI's previous quarterly dividend of $0.10. CGI's payout ratio is presently 7.47%.

Analyst Ratings Changes

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

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.