CGI Inc. (NYSE:GIB) Sees Significant Increase in Short Interest

CGI Inc. (NYSE:GIB) (TSE:GIB.A) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 1,680,000 shares, an increase of 12.8% from the December 15th total of 1,490,000 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 148,200 shares, the days-to-cover ratio is presently 11.3 days.

CGI Stock Down 0.3 %

GIB stock opened at $108.42 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The stock has a market capitalization of $24.71 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.31 and a beta of 0.95. CGI has a fifty-two week low of $96.92 and a fifty-two week high of $118.89. The business has a 50-day moving average of $110.48 and a 200-day moving average of $110.75.

CGI Announces Dividend

The firm also recently announced a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were issued a dividend of $0.111 per share. This represents a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 20th. CGI’s payout ratio is 8.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and increased their price target for the stock from $155.00 to $178.00 in a report on Tuesday, October 15th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $147.25.

Hedge Funds Weigh In On CGI

Hedge funds have recently modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of CGI by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock valued at $1,876,550,000 after buying an additional 230,000 shares during the last quarter. National Bank of Canada FI lifted its position in shares of CGI by 23.6% in the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock valued at $519,072,000 after buying an additional 861,771 shares during the last quarter. Fiera Capital Corp lifted its holdings in CGI by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock valued at $505,173,000 after purchasing an additional 114,864 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of CGI by 3.3% during the 3rd quarter. Bank of Montreal Can now owns 3,275,421 shares of the technology company’s stock worth $373,887,000 after buying an additional 104,300 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of CGI by 68.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after acquiring an additional 555,017 shares during the period. Institutional investors own 66.68% of the company’s stock.

About CGI

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.