Short Interest in CGI Inc. (NYSE:GIB) Expands By 43.2%

CGI Inc. (NYSE:GIB) (TSE:GIB.A) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,400,000 shares, a growth of 43.2% from the May 15th total of 977,900 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average trading volume of 174,800 shares, the short-interest ratio is currently 8.0 days.

Institutional Trading of CGI

Institutional investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC boosted its position in shares of CGI by 297.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after buying an additional 202 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in CGI in the 1st quarter valued at $30,000. Group One Trading L.P. bought a new position in CGI in the 3rd quarter valued at $36,000. Quantbot Technologies LP purchased a new stake in CGI in the third quarter worth $41,000. Finally, UMB Bank n.a. lifted its position in shares of CGI by 9,916.7% during the first quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock worth $66,000 after purchasing an additional 595 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Securities raised CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. CIBC reduced their price objective on CGI from $169.00 to $165.00 and set an “outperformer” rating on the stock in a research note on Thursday, May 2nd. Finally, StockNews.com downgraded CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th.

CGI Price Performance

Shares of CGI stock traded down $0.14 during trading hours on Friday, reaching $99.73. The company’s stock had a trading volume of 138,598 shares, compared to its average volume of 161,788. The stock has a market cap of $23.01 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.31 and a beta of 0.95. CGI has a one year low of $93.07 and a one year high of $118.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. The firm has a 50 day moving average price of $102.86 and a 200-day moving average price of $107.51.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.02. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. CGI had a return on equity of 20.43% and a net margin of 11.38%. On average, analysts predict that CGI will post 5.57 EPS for the current year.

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.