CGI Inc. (NYSE:GIB) Short Interest Up 12.8% in December

CGI Inc. (NYSE:GIBGet Free Report) (TSE:GIB.A) was the recipient of a large growth in short interest during 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 trading volume, of 148,200 shares, the short-interest ratio is presently 11.3 days. Currently, 0.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $178.00 price objective on shares of CGI in a research report on Monday, January 6th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperformer” rating and increased their price objective for the company from $155.00 to $178.00 in a report on Tuesday, October 15th. StockNews.com raised shares of CGI from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Cibc World Mkts upgraded shares of CGI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $147.25.

View Our Latest Analysis on GIB

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. lifted its position in CGI by 3.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 15,492 shares of the technology company’s stock valued at $1,694,000 after acquiring an additional 529 shares in the last quarter. Canoe Financial LP bought a new stake in shares of CGI in the fourth quarter valued at about $94,390,000. Avanza Fonder AB acquired a new position in shares of CGI during the fourth quarter worth about $1,453,000. Kathmere Capital Management LLC grew its holdings in shares of CGI by 18.6% during the fourth quarter. Kathmere Capital Management LLC now owns 11,594 shares of the technology company’s stock worth $1,267,000 after buying an additional 1,817 shares in the last quarter. Finally, Signal Advisors Wealth LLC grew its holdings in shares of CGI by 4.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 3,158 shares of the technology company’s stock worth $345,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Trading Down 0.3 %

Shares of CGI stock traded down $0.33 during trading hours on Friday, hitting $108.42. The company’s stock had a trading volume of 138,776 shares, compared to its average volume of 130,319. CGI has a 12 month low of $96.92 and a 12 month high of $118.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.02. The company has a market capitalization of $24.71 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.31 and a beta of 0.95. The stock has a 50 day moving average of $110.48 and a 200 day moving average of $110.68.

CGI Dividend Announcement

The business also recently declared a — dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were paid a $0.111 dividend. This represents a yield of 0.4%. The ex-dividend date was Wednesday, November 20th. CGI’s payout ratio is currently 8.55%.

CGI Company Profile

(Get Free Report)

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.

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