CGI Inc. (NYSE:GIB) Short Interest Up 6.2% in November

CGI Inc. (NYSE:GIB) (TSE:GIB.A) was the recipient of a large 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 short-interest ratio is presently 10.1 days. Currently, 0.7% of the shares of the stock are sold short.

CGI Price Performance

Shares of NYSE:GIB traded down $0.47 during trading hours on Tuesday, hitting $109.74. 147,694 shares of the company’s stock traded hands, compared to its average volume of 151,242. The company’s fifty day simple moving average is $112.68 and its two-hundred day simple moving average is $109.39. The company has a market cap of $25.01 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.60 and a beta of 0.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.02 and a current ratio of 1.36. CGI has a 52 week low of $96.92 and a 52 week high of $118.89.

CGI Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. DGS Capital Management LLC grew its holdings in shares of CGI by 1.8% in the 3rd quarter. DGS Capital Management LLC now owns 31,280 shares of the technology company’s stock worth $3,596,000 after acquiring an additional 539 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of CGI during the third quarter valued at $28,000. Unigestion Holding SA boosted its position in shares of CGI by 75.0% in the 3rd quarter. Unigestion Holding SA now owns 26,310 shares of the technology company’s stock valued at $3,027,000 after purchasing an additional 11,280 shares during the period. Toronto Dominion Bank increased its stake in CGI by 23.9% in the 3rd quarter. Toronto Dominion Bank now owns 561,741 shares of the technology company’s stock worth $64,578,000 after purchasing an additional 108,428 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in CGI by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 998,470 shares of the technology company’s stock worth $115,844,000 after buying an additional 79,362 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GIB. StockNews.com upgraded shares of CGI from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and upped their target price for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average 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.