CGI (TSE:GIB.A) Share Price Breaks Below 200-Day Moving Average – Time to Sell?

Shares of CGI Inc (TSE:GIB.A) (NYSE:GIB) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$97.05 and traded as low as C$95.58. CGI shares last traded at C$96.75, with a volume of 843,296 shares trading hands.

Analysts Set New Price Targets

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

CGI Stock Performance

The stock has a 50 day moving average of C$100.75 and a two-hundred day moving average of C$97.07. The stock has a market capitalization of C$20.70 billion, a PE ratio of 12.42, a P/E/G ratio of 2.24 and a beta of 0.19. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

CGI (TSE:GIB.A) (NYSE:GIB) last released 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%. Research analysts expect that CGI Inc will post 8.3679245 EPS for the current fiscal year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 18th were paid a $0.17 dividend. The ex-dividend date was 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.