CGI (NYSE:GIB) (TSE:GIB.A) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 748,576 shares, a decrease of 48.4% from the October 31st total of 1,450,827 shares. Based on an average daily trading volume, of 226,807 shares, the short-interest ratio is presently 3.3 days.

GIB opened at $63.68 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $17.92 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.02 and a beta of 0.58. CGI has a twelve month low of $52.54 and a twelve month high of $66.53.

CGI (NYSE:GIB) (TSE:GIB.A) last posted its earnings results on Wednesday, November 7th. The technology company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. CGI had a net margin of 9.92% and a return on equity of 18.05%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. Research analysts predict that CGI will post 3.54 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new stake in CGI in the second quarter worth $124,000. Csenge Advisory Group acquired a new stake in CGI in the third quarter worth $149,000. Riverhead Capital Management LLC raised its holdings in CGI by 100.0% in the third quarter. Riverhead Capital Management LLC now owns 2,800 shares of the technology company’s stock worth $179,000 after purchasing an additional 1,400 shares during the period. WCM Investment Management CA acquired a new stake in CGI in the second quarter worth $212,000. Finally, Signaturefd LLC raised its holdings in CGI by 36.5% in the third quarter. Signaturefd LLC now owns 3,468 shares of the technology company’s stock worth $224,000 after purchasing an additional 928 shares during the period. Institutional investors own 58.10% of the company’s stock.

Several brokerages recently weighed in on GIB. BMO Capital Markets restated a “buy” rating on shares of CGI in a report on Tuesday. Zacks Investment Research lowered shares of CGI from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Royal Bank of Canada increased their price objective on shares of CGI from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, November 8th. Desjardins restated a “buy” rating on shares of CGI in a report on Friday, November 9th. Finally, Raymond James restated a “buy” rating on shares of CGI in a report on Wednesday, November 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $77.67.

ILLEGAL ACTIVITY WARNING: “CGI (GIB) Short Interest Down 48.4% in November” was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://www.watchlistnews.com/cgi-gib-short-interest-down-48-4-in-november/2663553.html.

CGI Company Profile

CGI Group Inc provides information technology (IT) and business process services in Canada and internationally. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company offers application development, integration, and maintenance services; technology infrastructure management services; and business process services, such as collections and payroll management.

Recommended Story: Earnings Reports

Receive News & Ratings for CGI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CGI and related companies with MarketBeat.com's FREE daily email newsletter.