Mackenzie Financial Corp Lowers Position in CGI Inc. (NYSE:GIB)

Mackenzie Financial Corp reduced its position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 3.7% in the fourth quarter, according to its most recent 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 quarter. Mackenzie Financial Corp owned approximately 2.08% of CGI worth $515,194,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in CGI in the 4th quarter worth $62,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in CGI during the 4th quarter valued at about $83,000. Hoey Investments Inc. bought a new position in CGI during the 4th quarter valued at about $99,000. Blue Trust Inc. lifted its stake in CGI by 47.6% during the 4th quarter. Blue Trust Inc. now owns 1,163 shares of the technology company's stock valued at $134,000 after acquiring an additional 375 shares during the period. Finally, GeoWealth Management LLC boosted its holdings in shares of CGI by 80.4% in the fourth quarter. GeoWealth Management LLC now owns 1,299 shares of the technology company's stock worth $142,000 after buying an additional 579 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

CGI Stock Performance

NYSE GIB traded up $1.65 on Tuesday, reaching $108.01. 250,876 shares of the stock were exchanged, compared to its average volume of 202,127. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.28. CGI Inc. has a one year low of $92.85 and a one year high of $122.79. The company's 50-day simple moving average is $103.50 and its two-hundred day simple moving average is $108.52. The firm has a market capitalization of $24.49 billion, a PE ratio of 19.53, a PEG ratio of 2.58 and a beta of 0.78.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). CGI had a net margin of 11.72% and a return on equity of 19.32%. The company had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period last year, the business earned $1.97 earnings per share. The company's quarterly revenue was up 7.6% compared to the same quarter last year. Analysts expect that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GIB. UBS Group raised their price objective 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 target price on shares of CGI in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus 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.