CGI Inc (NYSE:GIB) (TSE:GIB.A) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 947,300 shares, a decline of 12.4% from the July 31st total of 1,081,500 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 148,100 shares, the days-to-cover ratio is presently 6.4 days.
Several equities research analysts recently weighed in on GIB shares. Zacks Investment Research cut CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Bank of America assumed coverage on CGI in a report on Thursday, May 23rd. They issued a “buy” rating and a $83.00 target price on the stock. Societe Generale downgraded CGI from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, National Bank Financial restated a “buy” rating on shares of CGI in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $87.67.
CGI stock traded up $0.27 during trading on Thursday, hitting $78.44. The company’s stock had a trading volume of 59,655 shares, compared to its average volume of 161,134. The stock has a market capitalization of $20.88 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 2.36 and a beta of 0.55. The stock’s fifty day moving average is $77.86 and its 200 day moving average is $73.68. CGI has a 1-year low of $57.35 and a 1-year high of $80.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.75 and a current ratio of 1.09.
CGI (NYSE:GIB) (TSE:GIB.A) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. CGI had a return on equity of 18.78% and a net margin of 10.32%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share. On average, research analysts anticipate that CGI will post 3.56 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bremer Bank National Association purchased a new position in CGI during the first quarter valued at approximately $25,000. Zions Bancorporation N.A. acquired a new position in CGI in the 2nd quarter worth approximately $28,000. Parallel Advisors LLC increased its holdings in CGI by 59.0% in the 1st quarter. Parallel Advisors LLC now owns 574 shares of the technology company’s stock worth $39,000 after buying an additional 213 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in CGI by 30.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 560 shares of the technology company’s stock worth $43,000 after buying an additional 130 shares during the period. Finally, Icon Wealth Partners LLC acquired a new position in CGI in the 1st quarter worth approximately $54,000. 55.19% of the stock is owned by institutional investors and hedge funds.
CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.
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