Computer Modelling Group (TSE:CMG) Shares Down 13.2% Following Analyst Downgrade

Computer Modelling Group Ltd. (TSE:CMG) shares dropped 13.2% during trading on Wednesday after CIBC lowered their price target on the stock from C$14.50 to C$11.00. CIBC currently has a neutral rating on the stock. Computer Modelling Group traded as low as C$8.75 and last traded at C$9.20. Approximately 228,500 shares traded hands during trading, an increase of 63% from the average daily volume of 139,875 shares. The stock had previously closed at C$10.60.

CMG has been the subject of several other reports. Canaccord Genuity Group downgraded shares of Computer Modelling Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$15.00 to C$12.00 in a research report on Wednesday, November 13th. Raymond James decreased their target price on shares of Computer Modelling Group from C$15.00 to C$13.00 and set an “outperform” rating for the company in a research report on Wednesday. Ventum Financial decreased their target price on shares of Computer Modelling Group from C$15.00 to C$14.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets decreased their target price on shares of Computer Modelling Group from C$14.00 to C$13.00 in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Computer Modelling Group currently has an average rating of “Moderate Buy” and a consensus price target of C$12.67.

Insider Activity at Computer Modelling Group

In related news, Director Kenneth Michael Dedeluk sold 5,000 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of C$10.35, for a total transaction of C$51,750.00. Also, Senior Officer Long X. Nghiem sold 25,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of C$11.35, for a total transaction of C$283,850.00. Insiders sold a total of 325,210 shares of company stock worth $3,533,366 in the last ninety days. 1.03% of the stock is currently owned by insiders.

Computer Modelling Group Trading Down 3.0 %

The company has a market cap of C$714.06 million, a price-to-earnings ratio of 29.18, a PEG ratio of 1.97 and a beta of 1.21. The company has a debt-to-equity ratio of 47.62, a quick ratio of 2.25 and a current ratio of 1.27. The business’s 50 day moving average price is C$10.52 and its 200-day moving average price is C$11.53.

Computer Modelling Group (TSE:CMG) last announced its quarterly earnings data on Tuesday, November 12th. The company reported C$0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.01. Computer Modelling Group had a net margin of 19.18% and a return on equity of 33.54%. On average, research analysts forecast that Computer Modelling Group Ltd. will post 0.3055122 EPS for the current year.

Computer Modelling Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Thursday, December 5th. Computer Modelling Group’s dividend payout ratio (DPR) is presently 65.95%.

About Computer Modelling Group

Computer Modelling Group Ltd., a software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services. The company offers CMOST-AI, an optimization and analysis tool that offers solution for reservoir by combining advanced statistical analysis, machine learning, and impartial data interpretation; IMEX, a black oil simulator that is used to model primary, secondary, and tertiary oil recovery processes in conventional and unconventional reservoirs; and GEM, an equation-of-state reservoir simulator for compositional, chemical, and unconventional reservoir modelling.