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

CGI Inc. (NYSE:GIB) (TSE:GIB.A) was the target of a significant increase in short interest in the month of 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 trading volume of 134,200 shares, the days-to-cover ratio is currently 6.1 days. Approximately 0.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On CGI

Large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in shares of CGI by 471.7% in the third 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 increased its holdings in shares of CGI by 297.1% in the fourth 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 increased its holdings in shares of CGI by 2,507.1% in the first 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. purchased a new position in CGI in the third quarter worth about $36,000. Finally, Quantbot Technologies LP purchased a new position in CGI in the third quarter worth about $41,000. 66.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

CGI Price Performance

NYSE:GIB traded up $0.75 on Tuesday, reaching $103.68. 145,339 shares of the company’s stock traded hands, compared to its average volume of 136,380. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $112.56 and a 200-day simple moving average of $106.59. The firm has a market cap of $24.09 billion, a PE ratio of 20.21, a P/E/G ratio of 1.93 and a beta of 0.92. CGI has a 12 month low of $93.07 and a 12 month high of $118.89.

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

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.