CGI (NYSE:GIB) Hits New 52-Week Low – Time to Sell?

CGI Inc. (NYSE:GIB) (TSE:GIB.A)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $92.85 and last traded at $93.82, with a volume of 48423 shares changing hands. The stock had previously closed at $96.47.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GIB. Royal Bank of Canada reiterated an “outperform” rating and set a $192.00 target price on shares of CGI in a research report on Wednesday, March 26th. UBS Group raised their target price on shares of CGI from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group dropped their price objective on CGI from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, CGI currently has an average rating of “Buy” and an average price target of $156.75.

CGI Stock Up 0.8 %

The business’s fifty day moving average price is $109.23 and its two-hundred day moving average price is $110.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The firm has a market capitalization of $22.05 billion, a P/E ratio of 17.60, a PEG ratio of 2.58 and a beta of 0.85.

CGI (NYSE:GIB) (TSE:GIB.A) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. CGI had a return on equity of 19.32% and a net margin of 11.72%. Equities analysts expect that CGI Inc. will post 5.79 earnings per share for the current fiscal year.

CGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were issued a dividend of $0.1039 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, February 14th. CGI’s dividend payout ratio (DPR) is presently 7.41%.

Institutional Trading of CGI

Several large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in CGI in the third quarter valued at approximately $28,000. Sierra Ocean LLC purchased a new position in shares of CGI during the fourth quarter worth $62,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in CGI during the fourth quarter valued at $83,000. Hoey Investments Inc. acquired a new position in shares of CGI in the 4th quarter valued at about $99,000. Finally, Versant Capital Management Inc grew its holdings in CGI by 371.7% during the first quarter. Versant Capital Management Inc now owns 1,052 shares of the technology company’s stock worth $105,000 after acquiring an additional 829 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.