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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,290,000 shares, a growth of 15.2% from the October 31st total of 1,120,000 shares. Based on an average daily trading volume, of 139,900 shares, the short-interest ratio is presently 9.2 days. Approximately 0.7% of the company’s shares are short sold.

CGI Stock Down 0.2 %

Shares of GIB traded down $0.17 during midday trading on Friday, reaching $112.42. 66,007 shares of the company were exchanged, compared to its average volume of 170,241. CGI has a 1-year low of $96.92 and a 1-year high of $118.89. The stock has a 50-day moving average price of $113.17 and a 200-day moving average price of $108.58. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.29. The company has a market cap of $25.62 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.54 and a beta of 0.96.

CGI Announces Dividend

The business also recently declared a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be given a dividend of $0.111 per share. This represents a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 20th. CGI’s dividend payout ratio (DPR) is presently 8.18%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. CIBC raised CGI from a “neutral” rating to an “outperformer” rating and boosted their price target for the company from $155.00 to $178.00 in a research 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 shares of CGI from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $137.00.

Institutional Trading of CGI

Several large investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of CGI in the third quarter valued at $28,000. Blue Trust Inc. lifted its holdings in CGI by 288.2% in the 3rd quarter. Blue Trust Inc. now owns 788 shares of the technology company’s stock worth $91,000 after buying an additional 585 shares in the last quarter. CWM LLC boosted its position in CGI by 14.8% in the 3rd quarter. CWM LLC now owns 1,365 shares of the technology company’s stock valued at $157,000 after buying an additional 176 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of CGI by 9.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $205,000 after acquiring an additional 173 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management purchased a new stake in shares of CGI during the third quarter worth about $208,000. Institutional investors and hedge funds 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.