CGI (TSE:GIB.A) Shares Down 0.9% – What’s Next?

CGI Inc (TSE:GIB.A) (NYSE:GIB) shares fell 0.9% on Monday. The stock traded as low as C$115.91 and last traded at C$116.70. Approximately 615,913 shares were traded during mid-day trading, a decline of 5% from the average session volume of 650,162 shares. The stock had previously closed at C$117.74.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GIB.A. Canadian Imperial Bank of Commerce boosted their target price on shares of CGI from C$107.00 to C$108.00 in a research note on Thursday, July 30th. Stifel Nicolaus increased their price target on shares of CGI from C$110.00 to C$120.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. TD raised their price target on shares of CGI from C$99.00 to C$118.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Finally, Desjardins dropped their price objective on shares of CGI from C$118.00 to C$115.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$124.00.

CGI Stock Down 1.2%

The company has a market cap of C$23.94 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 2.24 and a beta of 0.29. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The firm’s 50 day moving average price is C$104.56 and its 200-day moving average price is C$100.25.

CGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 18th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 14th. CGI’s dividend payout ratio is currently 6.09%.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 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. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results.