Short Interest in CGI Inc. (NYSE:GIB) Rises By 15.2%

CGI Inc. (NYSE:GIB) (TSE:GIB.A) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,290,000 shares, an increase of 15.2% from the October 31st total of 1,120,000 shares. Based on an average daily volume of 139,900 shares, the days-to-cover ratio is currently 9.2 days. Currently, 0.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, CIBC raised CGI from a “neutral” rating to an “outperformer” rating and lifted their price target for the stock from $155.00 to $178.00 in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $137.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC raised its position in shares of CGI by 2.4% in the third quarter. Crestwood Advisors Group LLC now owns 4,222 shares of the technology company’s stock valued at $485,000 after buying an additional 97 shares during the last quarter. First Affirmative Financial Network lifted its stake in shares of CGI by 4.0% during the 2nd quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock worth $284,000 after purchasing an additional 109 shares during the period. West Family Investments Inc. boosted its holdings in shares of CGI by 5.5% during the third quarter. West Family Investments Inc. now owns 2,323 shares of the technology company’s stock worth $267,000 after purchasing an additional 121 shares during the last quarter. Cigna Investments Inc. New grew its position in shares of CGI by 3.8% in the second quarter. Cigna Investments Inc. New now owns 3,948 shares of the technology company’s stock valued at $394,000 after purchasing an additional 146 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in CGI by 9.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after purchasing an additional 173 shares during the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Price Performance

CGI stock traded down $0.17 during mid-day trading on Friday, hitting $112.42. 66,007 shares of the company were exchanged, compared to its average volume of 170,241. CGI has a 12-month low of $96.92 and a 12-month high of $118.89. The company has a market capitalization of $25.62 billion, a P/E ratio of 20.90, a PEG ratio of 2.54 and a beta of 0.96. The business’s 50 day simple moving average is $113.17 and its two-hundred day simple moving average is $108.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02.

CGI Announces Dividend

The company also recently announced a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be paid a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date is Wednesday, November 20th. CGI’s payout ratio is 8.18%.

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.