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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) was the target of a significant increase in short interest in 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. Approximately 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 135,300 shares, the days-to-cover ratio is currently 10.1 days.

CGI Stock Performance

Shares of GIB stock traded down $0.47 during midday trading on Tuesday, hitting $109.74. The company had a trading volume of 147,694 shares, compared to its average volume of 151,242. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.60 and a beta of 0.94. 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 company’s 50 day simple moving average is $112.68 and its 200 day simple moving average is $109.39. CGI has a 52-week low of $96.92 and a 52-week high of $118.89.

CGI Dividend Announcement

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

Hedge Funds Weigh In On CGI

Several institutional investors have recently bought and sold shares of the company. Cidel Asset Management Inc. raised its stake in shares of CGI by 0.8% during the 2nd quarter. Cidel Asset Management Inc. now owns 254,738 shares of the technology company’s stock worth $25,421,000 after buying an additional 2,053 shares in the last quarter. Walter Public Investments Inc. raised its position in CGI by 4.0% in the second quarter. Walter Public Investments Inc. now owns 206,214 shares of the technology company’s stock worth $20,575,000 after acquiring an additional 8,004 shares in the last quarter. MinichMacGregor Wealth Management LLC lifted its holdings in CGI by 3.1% in the second quarter. MinichMacGregor Wealth Management LLC now owns 8,984 shares of the technology company’s stock valued at $897,000 after acquiring an additional 270 shares during the period. Callan Family Office LLC purchased a new stake in shares of CGI during the 2nd quarter worth $412,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CGI by 12.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,405 shares of the technology company’s stock worth $4,431,000 after purchasing an additional 4,943 shares during the period. 66.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. CIBC raised shares of CGI from a “neutral” rating to an “outperformer” rating and increased their target price for the company from $155.00 to $178.00 in a research report on Tuesday, October 15th. Finally, Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.