CGI (TSE:GIB.A) Sets New 52-Week High – Still a Buy?

CGI Inc (TSE:GIB.A) (NYSE:GIB) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$163.41 and last traded at C$163.05, with a volume of 52459 shares changing hands. The stock had previously closed at C$160.58.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GIB.A shares. CIBC raised 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 report on Tuesday, October 15th. Canaccord Genuity Group lifted their price target on CGI from C$170.00 to C$175.00 in a research report on Thursday, November 7th. Raymond James lifted their price target on CGI from C$171.00 to C$180.00 in a research report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their target price on CGI from C$170.00 to C$178.00 in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CGI presently has an average rating of “Buy” and a consensus price target of C$169.83.

CGI Stock Performance

The stock has a 50-day simple moving average of C$157.21 and a 200 day simple moving average of C$153.10. 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 company has a market capitalization of C$33.27 billion, a PE ratio of 22.83, a P/E/G ratio of 2.24 and a beta of 0.86.

CGI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.60 dividend on an annualized basis 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.