Desjardins Cuts CGI (TSE:GIB.A) Price Target to C$166.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective trimmed by Desjardins from C$173.00 to C$166.00 in a report issued on Tuesday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on the company. Scotiabank reduced their price target on CGI from C$185.00 to C$175.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Royal Bank Of Canada dropped their price objective on CGI from C$192.00 to C$185.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Raymond James Financial dropped their price objective on CGI from C$183.00 to C$178.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group dropped their price objective on CGI from C$190.00 to C$180.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, CIBC dropped their price objective on CGI from C$183.00 to C$180.00 in a research note on Monday, July 21st. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, CGI presently has a consensus rating of “Buy” and a consensus price target of C$173.00.

CGI Stock Performance

Shares of GIB.A opened at C$133.58 on Tuesday. 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 business has a 50-day simple moving average of C$143.11 and a two-hundred day simple moving average of C$149.27. The stock has a market cap of C$27.22 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.24 and a beta of 0.86. CGI has a 52 week low of C$132.09 and a 52 week high of C$175.35.

CGI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 20th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.60 dividend on an annualized basis and a yield of 0.4%.

CGI Company Profile

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.