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

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On CGI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wetherby Asset Management Inc. increased its position in shares of CGI by 1.4% during the 1st quarter. Wetherby Asset Management Inc. now owns 7,340 shares of the technology company’s stock valued at $707,000 after purchasing an additional 101 shares during the last quarter. Hollencrest Capital Management increased its position in shares of CGI by 14.3% during the 1st quarter. Hollencrest Capital Management now owns 902 shares of the technology company’s stock valued at $87,000 after purchasing an additional 113 shares during the last quarter. Janiczek Wealth Management LLC increased its position in shares of CGI by 4.3% during the 3rd quarter. Janiczek Wealth Management LLC now owns 3,197 shares of the technology company’s stock valued at $315,000 after purchasing an additional 131 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of CGI by 3.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,059 shares of the technology company’s stock valued at $400,000 after purchasing an additional 146 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of CGI by 6.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,477 shares of the technology company’s stock valued at $244,000 after purchasing an additional 158 shares during the last quarter. 66.68% of the stock is owned by hedge funds and other institutional investors.

CGI Trading Up 0.7 %

Shares of CGI stock traded up $0.75 on Tuesday, reaching $103.68. 145,339 shares of the company’s stock were exchanged, compared to its average volume of 136,380. The company has a market capitalization of $24.09 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92. CGI has a 52 week low of $93.07 and a 52 week high of $118.89. The firm’s 50-day moving average is $112.56 and its two-hundred day moving average is $106.59. 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 issued its earnings results 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 for the quarter, compared to analysts’ expectations of $2.59 billion. Sell-side analysts predict that CGI will post 5.71 EPS for the current fiscal 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.