CGI Inc. (NYSE:GIB) Short Interest Update

CGI Inc. (NYSE:GIB) (TSE:GIB.A) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 1,390,000 shares, a decline of 6.1% from the August 15th total of 1,480,000 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 152,600 shares, the short-interest ratio is presently 9.1 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GIB shares. Jefferies Financial Group upped their price target on CGI from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Sanford C. Bernstein upgraded shares of CGI to a “strong-buy” rating in a research note on Thursday, August 1st. CIBC downgraded shares of CGI from a “sector outperform” rating to a “neutral” rating in a report on Friday, June 21st. Finally, UBS Group began coverage on shares of CGI in a research note on Friday, July 19th. They issued a “neutral” rating and a $112.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CGI currently has an average rating of “Moderate Buy” and a consensus price target of $132.67.

CGI Price Performance

GIB traded down $1.19 during trading hours on Wednesday, hitting $113.46. The company’s stock had a trading volume of 23,420 shares, compared to its average volume of 153,771. CGI has a 12 month low of $93.07 and a 12 month high of $118.89. The stock has a market cap of $26.18 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 2.67 and a beta of 0.95. The business’s 50-day moving average price is $109.43 and its 200-day moving average price is $106.75. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22.

CGI (NYSE:GIB) (TSE:GIB.A) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.40 earnings per share for the quarter, hitting the consensus estimate of $1.40. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. CGI had a return on equity of 20.21% and a net margin of 11.51%. Sell-side analysts expect that CGI will post 5.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CGI

Several hedge funds and other institutional investors have recently made changes to their positions in GIB. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of CGI during the first quarter valued at approximately $30,000. UMB Bank n.a. grew its position in CGI by 9,916.7% during the 1st quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock worth $66,000 after purchasing an additional 595 shares during the last quarter. CWM LLC grew its stake in CGI by 19.1% during the 1st quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in CGI by 41.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,978 shares of the technology company’s stock worth $212,000 after buying an additional 579 shares during the period. Finally, Tidal Investments LLC purchased a new position in shares of CGI during the 1st quarter valued at about $226,000. 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.