CGI Inc. (NYSE:GIB) Short Interest Update

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

Institutional Inflows and Outflows

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

CGI Trading Down 0.4 %

Shares of GIB stock traded down $0.47 during trading hours on Tuesday, hitting $109.74. The company had a trading volume of 147,694 shares, compared to its average volume of 151,242. 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 $25.01 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. The company’s fifty day moving average is $112.68 and its 200 day moving average is $109.39. CGI has a fifty-two week low of $96.92 and a fifty-two week high of $118.89.

CGI Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.111 per share. This represents a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 20th. CGI’s dividend payout ratio (DPR) is 8.18%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GIB shares. Cibc World Mkts upgraded shares of 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 upgraded CGI from a “neutral” rating to an “outperformer” rating and lifted their target price for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $137.00.

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.