CGI (TSE:GIB.A) Share Price Passes Above 200-Day Moving Average – Here’s Why

CGI Inc (TSE:GIB.A) (NYSE:GIB) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$97.43 and traded as high as C$104.18. CGI shares last traded at C$103.23, with a volume of 410,907 shares changing hands.

Analyst Ratings Changes

GIB.A has been the topic of a number of recent analyst reports. TD lifted their price objective on CGI from C$99.00 to C$118.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Stifel Nicolaus raised their price target on CGI from C$110.00 to C$120.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. National Bank Financial set a C$135.00 price target on shares of CGI and gave the company an “outperform” rating in a report on Friday, June 12th. Canadian Imperial Bank of Commerce lifted their price target on shares of CGI from C$107.00 to C$108.00 in a report on Thursday, July 30th. Finally, Desjardins boosted their price objective on shares of CGI from C$117.00 to C$118.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CGI presently has a consensus rating of “Moderate Buy” and an average target price of C$124.23.

CGI Stock Up 0.6%

The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The company’s fifty day simple moving average is C$97.77 and its 200 day simple moving average is C$97.47. The firm has a market capitalization of C$21.50 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 2.24 and a beta of 0.14.

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

CGI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 18th will be issued a $0.17 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.7%. CGI’s dividend payout ratio 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.