CGI (TSE:GIB.A) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of CGI Inc (TSE:GIB.A) (NYSE:GIB) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$130.25 and traded as low as C$127.75. CGI shares last traded at C$128.54, with a volume of 450,245 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. TD Securities cut their price objective on CGI from C$190.00 to C$145.00 and set a “buy” rating on the stock in a research report on Friday, October 3rd. Sanford C. Bernstein upped their price target on CGI from C$137.00 to C$142.00 in a report on Thursday, November 6th. Desjardins reduced their price target on CGI from C$169.00 to C$160.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. CIBC downgraded CGI from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$146.00 to C$139.00 in a research report on Monday, December 15th. Finally, Raymond James Financial cut their target price on shares of CGI from C$178.00 to C$168.00 in a research note on Thursday, November 6th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$165.90.

CGI Price Performance

The stock has a fifty day simple moving average of C$124.09 and a 200-day simple moving average of C$130.25. The company has a market capitalization of C$27.80 billion, a PE ratio of 17.49, a P/E/G ratio of 2.24 and a beta of 0.22. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A) (NYSE:GIB) last issued its earnings results on Wednesday, November 5th. The company reported C$2.13 earnings per share for the quarter. The business had revenue of C$4.01 billion for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. Equities analysts anticipate that CGI Inc will post 8.3679245 earnings per share for the current year.

CGI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 19th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, November 21st. This is an increase from CGI’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 0.5%. CGI’s dividend payout ratio is 8.16%.

CGI Company Profile

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 91,000 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.