CGI (TSE:GIB.A) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$98.63 and traded as high as C$105.41. CGI shares last traded at C$104.29, with a volume of 541,974 shares traded.

Analyst Ratings Changes

Several research analysts have recently issued reports on GIB.A shares. Stifel Nicolaus upped their target price on shares of CGI from C$110.00 to C$120.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Canaccord Genuity Group lowered their target price on shares of CGI from C$150.00 to C$140.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Desjardins raised their price objective on shares of CGI from C$117.00 to C$118.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Raymond James Financial dropped their price objective on shares of CGI from C$168.00 to C$130.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Finally, BMO Capital Markets cut their price target on shares of CGI from C$137.00 to C$122.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, CGI currently has a consensus rating of “Moderate Buy” and a consensus price target of C$124.23.

CGI Stock Performance

The stock’s fifty day simple moving average is C$95.52 and its 200-day simple moving average is C$98.37. The company has a market capitalization of C$21.54 billion, a PE ratio of 12.92, a PEG ratio of 2.24 and a beta of 0.14. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A) (NYSE:GIB) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$2.29 earnings per share (EPS) for the quarter. The firm had revenue of C$4.19 billion during the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. On average, research analysts predict that CGI Inc will post 8.3679245 earnings per share for the current fiscal year.

CGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, August 14th. This represents a $0.68 annualized dividend and a dividend yield of 0.7%. CGI’s dividend payout ratio (DPR) is 6.09%.

CGI Company Profile

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results.