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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) was the target of a significant 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. Based on an average daily volume of 139,900 shares, the days-to-cover ratio is currently 9.2 days. Currently, 0.7% of the company’s shares are short sold.

CGI Stock Down 0.4 %

CGI stock traded down $0.47 during trading on Tuesday, hitting $112.07. 136,575 shares of the company were exchanged, 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. CGI has a 52 week low of $96.92 and a 52 week high of $118.89. The company has a market capitalization of $25.54 billion, a P/E ratio of 20.83, a PEG ratio of 2.55 and a beta of 0.94. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29.

CGI Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, November 20th. This represents a yield of 0.4%. CGI’s dividend payout ratio (DPR) is currently 8.18%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. CIBC upgraded CGI from a “neutral” rating to an “outperformer” rating and boosted their price objective for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. Cibc World Mkts upgraded CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded CGI from a “sell” rating to a “hold” rating in a report on Friday, November 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. According to data from MarketBeat, CGI presently has a consensus rating of “Buy” and a consensus target price of $137.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GIB. National Bank of Canada FI boosted its position in CGI by 23.6% in the third quarter. National Bank of Canada FI now owns 4,513,733 shares of the technology company’s stock worth $519,072,000 after purchasing an additional 861,771 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in CGI by 68.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,368,822 shares of the technology company’s stock worth $157,485,000 after purchasing an additional 555,017 shares during the last quarter. Barclays PLC boosted its position in CGI by 182.6% in the third quarter. Barclays PLC now owns 476,758 shares of the technology company’s stock worth $54,808,000 after purchasing an additional 308,040 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in CGI by 1.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,290,487 shares of the technology company’s stock worth $1,876,550,000 after purchasing an additional 230,000 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in CGI by 2.7% in the third quarter. Fiera Capital Corp now owns 4,384,639 shares of the technology company’s stock worth $505,173,000 after purchasing an additional 114,864 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

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.