CGI (TSE:GIB.A) Share Price Passes Above 200 Day Moving Average – What’s Next?

CGI Inc (TSE:GIB.A) (NYSE:GIB) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$128.95 and traded as high as C$131.65. CGI shares last traded at C$131.37, with a volume of 631,235 shares traded.

Analyst Ratings Changes

Several brokerages recently weighed in on GIB.A. Desjardins decreased their target price on CGI from C$169.00 to C$160.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. TD Securities dropped their price target on shares of 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. CIBC lowered shares of CGI from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from C$146.00 to C$139.00 in a research report on Monday, December 15th. Raymond James Financial lowered their price objective on shares of CGI from C$178.00 to C$168.00 in a research note on Thursday, November 6th. Finally, Sanford C. Bernstein boosted their target price on shares of CGI from C$137.00 to C$142.00 in a report on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, CGI presently has a consensus rating of “Moderate Buy” and a consensus price target of C$165.90.

CGI Price Performance

The stock has a 50 day moving average of C$125.55 and a two-hundred day moving average of C$128.95. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The stock has a market cap of C$28.41 billion, a PE ratio of 17.87, a PEG ratio of 2.24 and a beta of 0.23.

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

CGI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 19th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.68 dividend on an annualized basis and a yield of 0.5%. This is a positive change from CGI’s previous quarterly dividend of $0.15. CGI’s dividend payout ratio (DPR) is 8.16%.

About CGI

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.