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

CGI Inc. (NYSE:GIBGet Free Report) (TSE:GIB.A) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 1,400,000 shares, an increase of 43.2% from the May 15th total of 977,900 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 174,800 shares, the short-interest ratio is presently 8.0 days.

CGI Price Performance

NYSE:GIB traded down $0.14 during trading hours on Friday, reaching $99.73. 138,598 shares of the company were exchanged, compared to its average volume of 161,788. The company has a market capitalization of $23.01 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.31 and a beta of 0.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.17 and a quick ratio of 0.86. The business has a 50 day moving average of $102.86 and a 200 day moving average of $107.56. CGI has a 1-year low of $93.07 and a 1-year high of $118.89.

CGI (NYSE:GIBGet Free Report) (TSE:GIB.A) last released its earnings results on Wednesday, May 1st. The technology company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.02. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. CGI had a return on equity of 20.43% and a net margin of 11.38%. Research analysts forecast that CGI will post 5.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Securities raised CGI from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. StockNews.com lowered shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, CIBC cut their price objective on shares of CGI from $169.00 to $165.00 and set an “outperformer” rating for the company in a report on Thursday, May 2nd.

View Our Latest Analysis on CGI

Hedge Funds Weigh In On CGI

Several hedge funds have recently bought and sold shares of GIB. Vanguard Group Inc. boosted its position in shares of CGI by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,578,327 shares of the technology company’s stock worth $746,389,000 after acquiring an additional 132,166 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of CGI by 100.0% in the 3rd quarter. Bank of Nova Scotia now owns 1,404,616 shares of the technology company’s stock valued at $138,450,000 after purchasing an additional 702,339 shares in the last quarter. Assetmark Inc. increased its stake in shares of CGI by 6,175.4% in the 4th quarter. Assetmark Inc. now owns 3,577 shares of the technology company’s stock valued at $383,000 after purchasing an additional 3,520 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of CGI during the 4th quarter worth $1,409,000. Finally, MQS Management LLC raised its holdings in shares of CGI by 26.3% during the 3rd quarter. MQS Management LLC now owns 3,859 shares of the technology company’s stock worth $380,000 after buying an additional 804 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

About CGI

(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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