CGI (TSE:GIB.A) Stock Passes Above 200 Day Moving Average – Should You Sell?

CGI Inc (TSE:GIB.A) (NYSE:GIB) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$97.30 and traded as high as C$100.29. CGI shares last traded at C$99.27, with a volume of 246,442 shares changing hands.

Analysts Set New Price Targets

GIB.A has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective on CGI from C$110.00 to C$120.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. National Bank Financial set a C$135.00 target price on shares of CGI and gave the company an “outperform” rating in a research note on Friday, June 12th. Canadian Imperial Bank of Commerce raised their target price on shares of CGI from C$107.00 to C$108.00 in a report on Thursday, July 30th. Desjardins lifted their price target on shares of CGI from C$117.00 to C$118.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, TD increased their price objective on shares of CGI from C$99.00 to C$118.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, CGI currently has a consensus rating of “Moderate Buy” and a consensus price target of C$124.23.

CGI Stock Performance

The firm has a 50 day moving average price of C$100.10 and a 200 day moving average price of C$97.30. The stock has a market cap of C$20.21 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 2.24 and a beta of 0.19. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A) (NYSE:GIB) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$2.29 EPS for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The business had revenue of C$4.19 billion during the quarter. As a group, research analysts forecast that CGI Inc will post 8.3679245 earnings per share for the current year.

CGI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 18th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 14th. CGI’s payout ratio is 6.09%.

About CGI

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.