CGI Inc. (NYSE:GIB) Short Interest Up 15.2% in November

CGI Inc. (NYSE:GIB) (TSE:GIB.A) was the recipient of a large increase in short interest in 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. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 139,900 shares, the days-to-cover ratio is presently 9.2 days.

CGI Trading Down 0.4 %

NYSE:GIB traded down $0.47 during trading hours on Tuesday, hitting $112.07. The stock had a trading volume of 136,575 shares, compared to its average volume of 150,693. The business’s 50 day moving average is $113.10 and its 200-day moving average is $108.69. 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 has a market cap of $25.54 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.55 and a beta of 0.94. CGI has a one year low of $96.92 and a one year high of $118.89.

CGI Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. CIBC upgraded 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 research 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 report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CGI has an average rating of “Buy” and a consensus price target of $137.00.

Hedge Funds Weigh In On CGI

Several institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC bought a new position in shares of CGI during the first quarter worth about $226,000. First Affirmative Financial Network increased its position in shares of CGI by 4.0% in the second quarter. First Affirmative Financial Network now owns 2,841 shares of the technology company’s stock valued at $284,000 after acquiring an additional 109 shares during the last quarter. Cigna Investments Inc. New increased 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 acquiring an additional 146 shares during the last quarter. 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 purchasing an additional 2,053 shares in the last quarter. Finally, Walter Public Investments Inc. increased its holdings in CGI by 4.0% during the second quarter. Walter Public Investments Inc. now owns 206,214 shares of the technology company’s stock worth $20,575,000 after buying an additional 8,004 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.

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.