CGI (TSE:GIB.A) Shares Cross Above 200 Day Moving Average – Here’s Why

CGI Inc (TSE:GIB.A) (NYSE:GIB) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$147.11 and traded as high as C$151.83. CGI shares last traded at C$151.42, with a volume of 771,070 shares.

Analysts Set New Price Targets

GIB.A has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised their target price on shares of CGI from C$127.00 to C$138.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BMO Capital Markets raised their target price on shares of CGI from C$160.00 to C$170.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. CIBC upgraded shares of CGI from a “neutral” rating to an “outperform” rating and raised their target price for the stock from C$155.00 to C$178.00 in a research note on Tuesday, October 15th. TD Securities raised their target price on shares of CGI from C$160.00 to C$180.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group raised their target price on shares of CGI from C$121.00 to C$132.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, CGI presently has a consensus rating of “Buy” and an average target price of C$169.83.

CGI Stock Performance

The stock has a market cap of C$30.86 billion, a P/E ratio of 21.18, a PEG ratio of 2.24 and a beta of 0.86. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The firm’s 50-day moving average price is C$155.72 and its 200-day moving average price is C$147.19.

CGI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, November 20th.

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.