CGI Inc. (NYSE:GIB) Short Interest Up 12.8% in December

CGI Inc. (NYSE:GIB) (TSE:GIB.A) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,680,000 shares, a growth of 12.8% from the December 15th total of 1,490,000 shares. Based on an average daily volume of 148,200 shares, the short-interest ratio is currently 11.3 days. Currently, 0.8% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities analysts recently weighed in on GIB shares. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and boosted their price objective for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. Cibc World Mkts raised shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $147.25.

CGI Stock Performance

GIB traded down $0.33 during trading on Friday, reaching $108.42. 138,776 shares of the company’s stock were exchanged, compared to its average volume of 130,319. The company has a market capitalization of $24.71 billion, a P/E ratio of 20.15, a PEG ratio of 2.31 and a beta of 0.95. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $110.48 and a 200 day moving average price of $110.68. CGI has a fifty-two week low of $96.92 and a fifty-two week high of $118.89.

CGI Dividend Announcement

The firm also recently declared a — dividend, which was paid on Friday, December 20th. Investors of record on Wednesday, November 20th were given a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 20th. CGI’s dividend payout ratio (DPR) is presently 8.55%.

Institutional Inflows and Outflows

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

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.