CGI (TSE:GIB.A) Shares Pass Above 200 Day Moving Average – What’s Next?

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$146.35 and traded as high as C$159.24. CGI shares last traded at C$156.57, with a volume of 322,263 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Scotiabank boosted their target price on shares of CGI from C$160.00 to C$170.00 in a research note on Friday, August 2nd. BMO Capital Markets boosted their price objective on CGI from C$160.00 to C$170.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Desjardins raised their target price on CGI from C$166.00 to C$172.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Raymond James boosted their price target on CGI from C$167.00 to C$171.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price objective on CGI from C$163.00 to C$170.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$167.17.

CGI Price Performance

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’s 50-day moving average is C$154.55 and its two-hundred day moving average is C$146.40. The stock has a market cap of C$31.73 billion, a PE ratio of 21.54, a PEG ratio of 2.24 and a beta of 0.86.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.