CGI Inc. (NYSE:GIB) Short Interest Up 15.9% in March

CGI Inc. (NYSE:GIB) (TSE:GIB.A) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 825,100 shares, an increase of 15.9% from the March 15th total of 711,700 shares. Based on an average daily trading volume, of 134,200 shares, the short-interest ratio is currently 6.1 days. Approximately 0.4% of the company’s stock are sold short.

CGI Stock Performance

GIB traded up $0.75 during trading on Tuesday, reaching $103.68. The company’s stock had a trading volume of 145,339 shares, compared to its average volume of 136,380. CGI has a 52-week low of $93.07 and a 52-week high of $118.89. The company’s fifty day moving average price is $112.56 and its 200-day moving average price is $106.59. The company has a market capitalization of $24.09 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.11.

CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $1.34 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.59 billion. On average, equities analysts forecast that CGI will post 5.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On CGI

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its position in shares of CGI by 471.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock worth $26,000 after purchasing an additional 217 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of CGI by 297.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock worth $29,000 after purchasing an additional 202 shares during the last quarter. Belpointe Asset Management LLC raised its position in shares of CGI by 2,507.1% during the 1st quarter. Belpointe Asset Management LLC now owns 365 shares of the technology company’s stock worth $35,000 after purchasing an additional 351 shares during the last quarter. Group One Trading L.P. acquired a new position in shares of CGI during the 3rd quarter worth approximately $36,000. Finally, Quantbot Technologies LP acquired a new position in shares of CGI during the 3rd quarter worth approximately $41,000. 66.68% of the stock is currently owned by institutional investors and hedge funds.

CGI Company Profile

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.