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

CGI Inc. (NYSE:GIBGet Free Report) (TSE:GIB.A) was the target of a significant increase in short interest during 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. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 130,000 shares, the days-to-cover ratio is currently 5.5 days.

Institutional Investors Weigh In On CGI

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in CGI during the fourth quarter valued at approximately $273,239,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of CGI in the first quarter worth $212,464,000. FMR LLC boosted its position in CGI by 2,854.5% during the third quarter. FMR LLC now owns 1,622,077 shares of the technology company’s stock valued at $159,884,000 after acquiring an additional 1,567,176 shares during the last quarter. Mackenzie Financial Corp boosted its position in CGI by 15.0% during the third quarter. Mackenzie Financial Corp now owns 6,190,061 shares of the technology company’s stock valued at $598,239,000 after acquiring an additional 805,973 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of CGI during the 4th quarter worth about $85,909,000. 66.68% of the stock is currently owned by institutional investors.

CGI Stock Performance

CGI stock traded down $0.72 during midday trading on Tuesday, reaching $109.20. 161,598 shares of the company’s stock were exchanged, 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 company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market cap of $25.37 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 2.04 and a beta of 0.92. The stock’s 50-day simple moving average is $113.70 and its 200 day simple moving average is $106.18.

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

Analyst Ratings Changes

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

Check Out Our Latest Research Report on CGI

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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