CGI (TSE:GIB.A) Reaches New 52-Week High – Here’s What Happened

Shares of CGI Inc (TSE:GIB.A) (NYSE:GIB) hit a new 52-week high 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.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of CGI from C$170.00 to C$175.00 in a report on Thursday, November 7th. Raymond James boosted their price target on shares of CGI from C$171.00 to C$180.00 in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of CGI from C$170.00 to C$178.00 in a report on Thursday, November 7th. Finally, CIBC upgraded shares of CGI from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from C$155.00 to C$178.00 in a report on Tuesday, October 15th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$169.83.

CGI Stock Performance

The stock has a market cap of C$32.69 billion, a PE ratio of 22.23, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The firm’s 50-day moving average is C$156.43 and its 200 day moving average is C$148.53.

CGI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is 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.