CGI (TSE:GIB.A) Shares Cross Below Two Hundred Day Moving Average - Here's Why

Key Points

• CGI Inc's shares crossed below their 200-day moving average, trading as low as C$130.77 on Monday, with a last traded price of C$131.15.
• Recent analyst updates have led to multiple price target reductions for CGI, with consensus estimates now at a price target of C$179.40 and most analysts maintaining a "Buy" rating.
• The company announced a quarterly dividend of $0.15 per share, payable on September 19th, which translates to an annualized dividend yield of 0.5%.

CGI Inc (TSE:GIB.A - Get Free Report) NYSE: GIB crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$147.89 and traded as low as C$130.77. CGI shares last traded at C$131.15, with a volume of 393,616 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of CGI from C$190.00 to C$180.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Scotiabank reduced their price objective on shares of CGI from C$185.00 to C$175.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Royal Bank Of Canada reduced their price objective on shares of CGI from C$185.00 to C$175.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. CIBC reduced their price objective on shares of CGI from C$183.00 to C$180.00 in a research note on Monday, July 21st. Finally, Raymond James Financial reduced their price objective on shares of CGI from C$183.00 to C$178.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$179.40.

CGI Stock Down 0.7%

The stock's fifty day moving average is C$140.89 and its two-hundred day moving average is C$147.89. 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 has a market cap of C$26.73 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

CGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 19th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.5%.

About CGI

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.

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