CGI (TSE:GIB.A) Sets New 1-Year High – Still a Buy?

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$160.80 and last traded at C$159.79, with a volume of 23421 shares. The stock had previously closed at C$158.98.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. CIBC raised shares of CGI from a “neutral” rating to an “outperform” rating and raised their price target for the stock from C$155.00 to C$178.00 in a research note on Tuesday, October 15th. Royal Bank of Canada raised their price target on shares of CGI from C$170.00 to C$178.00 in a research note on Thursday, November 7th. Canaccord Genuity Group raised their price target on shares of CGI from C$170.00 to C$175.00 in a research note on Thursday, November 7th. Finally, Raymond James raised their price target on shares of CGI from C$171.00 to C$180.00 in a research note on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, CGI currently has an average rating of “Buy” and a consensus target price of C$169.83.

CGI Stock Performance

The firm has a market capitalization of C$32.69 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. 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 company’s fifty day moving average price is C$156.43 and its two-hundred day moving average price is C$148.53.

CGI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.60 annualized dividend and a dividend yield of 0.37%.

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.