CGI Inc. (NYSE:GIB) Sees Significant Increase in Short Interest

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 days-to-cover ratio is presently 11.3 days. Approximately 0.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On CGI

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in shares of CGI by 2.0% in the second quarter. American Century Companies Inc. now owns 27,896 shares of the technology company’s stock worth $2,784,000 after purchasing an additional 540 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of CGI by 15.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,488 shares of the technology company’s stock valued at $248,000 after buying an additional 331 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of CGI by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 625,106 shares of the technology company’s stock valued at $62,394,000 after buying an additional 113,903 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of CGI by 23.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,301 shares of the technology company’s stock worth $1,406,000 after acquiring an additional 2,737 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in CGI in the second quarter valued at approximately $230,000. 66.68% of the stock is owned by institutional investors.

CGI Stock Down 0.3 %

Shares of GIB opened at $108.42 on Monday. The stock has a fifty day moving average of $110.48 and a 200-day moving average of $110.75. CGI has a 52 week low of $96.92 and a 52 week high of $118.89. The stock has a market capitalization of $24.71 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.31 and a beta of 0.95. 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 Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on GIB. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price target for the stock from $155.00 to $178.00 in a research report on Tuesday, October 15th. Cibc World Mkts raised CGI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and set a $178.00 price target on shares of CGI in a report on Monday, January 6th. Finally, StockNews.com raised CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $147.25.

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.