Short Interest in CGI Inc. (NYSE:GIB) Grows By 6.2%

CGI Inc. (NYSE:GIB) (TSE:GIB.A) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 1,370,000 shares, a growth of 6.2% from the November 15th total of 1,290,000 shares. Based on an average daily trading volume, of 135,300 shares, the days-to-cover ratio is presently 10.1 days. Currently, 0.7% of the company’s stock are sold short.

CGI Stock Performance

Shares of CGI stock traded down $0.47 on Tuesday, reaching $109.74. 147,694 shares of the company were exchanged, compared to its average volume of 151,242. The firm has a market cap of $25.01 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 2.60 and a beta of 0.94. CGI has a 1-year low of $96.92 and a 1-year high of $118.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. The company’s 50-day moving average is $112.68 and its two-hundred day moving average is $109.39.

CGI Announces Dividend

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

Institutional Investors Weigh In On CGI

A number of hedge funds have recently added to or reduced their stakes in GIB. Wilmington Savings Fund Society FSB acquired a new stake in shares of CGI in the 3rd quarter worth about $28,000. Blue Trust Inc. grew its position in CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after purchasing an additional 585 shares during the last quarter. CWM LLC increased its stake in shares of CGI by 14.8% in the third quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after purchasing an additional 176 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after buying an additional 173 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management acquired a new position in shares of CGI during the third quarter worth approximately $208,000. 66.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

CGI Company 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.