CGI (TSE:GIB.A) Sets New 12-Month High – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on GIB.A shares. CIBC upgraded shares of CGI from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from C$155.00 to C$178.00 in a research report on Tuesday, October 15th. Raymond James boosted their price target on CGI from C$171.00 to C$180.00 in a report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on CGI from C$170.00 to C$175.00 in a research note 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 research note on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$169.83.

CGI Price Performance

The company has a 50 day moving average price of C$156.57 and a 200-day moving average price of C$148.70. The company has a market cap of C$32.54 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24.

CGI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.38%. The ex-dividend date 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.