Desjardins Cuts CGI (TSE:GIB.A) Price Target to C$160.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price target trimmed by Desjardins from C$169.00 to C$160.00 in a research note published on Tuesday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. TD Securities cut their target price on CGI from C$190.00 to C$145.00 and set a “buy” rating for the company in a research note on Friday, October 3rd. CIBC cut their price objective on CGI from C$180.00 to C$149.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada decreased their target price on shares of CGI from C$185.00 to C$175.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$166.90.

CGI Trading Down 5.2%

TSE GIB.A opened at C$119.72 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The stock has a market capitalization of C$26.69 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.24 and a beta of 0.27. CGI has a 52-week low of C$119.14 and a 52-week high of C$175.35. The firm has a 50-day moving average price of C$126.14 and a 200 day moving average price of C$136.38.

CGI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 19th will be issued a dividend of $0.17 per share. This is a boost from CGI’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 21st. This represents a $0.68 dividend on an annualized basis and a yield of 0.6%. CGI’s payout ratio is currently 5.96%.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 91,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions.