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

CGI Inc. (NYSE:GIBGet Free Report) (TSE:GIB.A) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 711,700 shares, an increase of 12.6% from the February 29th total of 631,800 shares. Based on an average daily volume of 130,000 shares, the short-interest ratio is presently 5.5 days. Approximately 0.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th.

Get Our Latest Analysis on CGI

Institutional Trading of CGI

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in CGI by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock valued at $746,389,000 after purchasing an additional 132,166 shares in the last quarter. Mackenzie Financial Corp increased its stake in CGI by 15.0% during the 3rd quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock valued at $598,239,000 after purchasing an additional 805,973 shares in the last quarter. Fiera Capital Corp grew its stake in shares of CGI by 7.1% in the fourth quarter. Fiera Capital Corp now owns 4,085,404 shares of the technology company’s stock worth $439,103,000 after acquiring an additional 272,371 shares during the period. National Bank of Canada FI grew its stake in shares of CGI by 3.6% in the fourth quarter. National Bank of Canada FI now owns 3,711,372 shares of the technology company’s stock worth $385,239,000 after acquiring an additional 129,020 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of CGI by 12.9% in the third quarter. The Manufacturers Life Insurance Company now owns 3,505,781 shares of the technology company’s stock worth $348,026,000 after acquiring an additional 401,717 shares during the period. 66.68% of the stock is currently owned by institutional investors.

CGI Stock Down 0.7 %

NYSE GIB traded down $0.72 during trading hours on Tuesday, reaching $109.20. 161,598 shares of the company’s stock traded hands, compared to its average volume of 135,586. CGI has a 52-week low of $93.07 and a 52-week high of $118.89. The firm has a market cap of $25.37 billion, a PE ratio of 21.29, a PEG ratio of 2.04 and a beta of 0.92. The firm has a 50-day simple moving average of $113.70 and a 200 day simple moving average of $106.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 0.86.

CGI (NYSE:GIBGet Free Report) (TSE:GIB.A) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. CGI had a net margin of 11.34% and a return on equity of 20.65%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Sell-side analysts anticipate that CGI will post 5.71 EPS for the current fiscal year.

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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