Mackenzie Financial Corp Has $474.70 Million Stock Position in CGI Group, Inc. (NYSE:GIB)

Key Points

• Mackenzie Financial Corp has increased its stake in CGI Group, Inc. by 0.9%, bringing its total shares to 4,755,285, valued at approximately $474.70 million.
• CGI Group recently announced a dividend increase to $0.1086 per share, up from $0.10, representing an annual yield of 0.43%.
• Despite reporting quarterly earnings that missed analysts' expectations, CGI Group's revenue increased by 7.6% year-over-year, with a reported revenue of $2.80 billion.

Mackenzie Financial Corp raised its stake in CGI Group, Inc. (NYSE:GIB - Free Report) TSE: GIB.A by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,755,285 shares of the technology company's stock after buying an additional 41,631 shares during the period. Mackenzie Financial Corp owned 2.10% of CGI Group worth $474,702,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CGI Group during the fourth quarter valued at $286,970,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of CGI Group by 1,190.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock valued at $92,438,000 after acquiring an additional 780,370 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of CGI Group by 29.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock valued at $327,007,000 after acquiring an additional 678,431 shares during the last quarter. Bank of Montreal Can raised its stake in CGI Group by 17.3% during the fourth quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after buying an additional 567,868 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in CGI Group by 27.5% during the fourth quarter. Geode Capital Management LLC now owns 1,272,840 shares of the technology company's stock worth $140,266,000 after buying an additional 274,370 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company's stock.

CGI Group Price Performance

Shares of NYSE GIB opened at $101.06 on Monday. CGI Group, Inc. has a twelve month low of $92.85 and a twelve month high of $122.79. The firm has a fifty day simple moving average of $105.26 and a 200 day simple moving average of $106.73. The company has a market capitalization of $22.68 billion, a PE ratio of 18.41, a P/E/G ratio of 1.88 and a beta of 0.76. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

CGI Group (NYSE:GIB - Get Free Report) TSE: GIB.A last announced its earnings results on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the business earned $1.97 EPS. CGI Group's quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts forecast that CGI Group, Inc. will post 5.79 EPS for the current year.

CGI Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were paid a dividend of $0.1086 per share. This represents a $0.43 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, May 16th. This is an increase from CGI Group's previous quarterly dividend of $0.10. CGI Group's dividend payout ratio (DPR) is currently 7.83%.

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.

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