CGI (TSE:GIB.A) Reaches New 1-Year High – Here’s What Happened

Shares of CGI Inc (TSE:GIB.A) (NYSE:GIB) reached a new 52-week high on Friday . The stock traded as high as C$160.80 and last traded at C$159.79, with a volume of 23421 shares. The stock had previously closed at C$158.98.

Wall Street Analysts Forecast Growth

GIB.A has been the topic of a number of research reports. Canaccord Genuity Group lifted their price target on shares of CGI from C$170.00 to C$175.00 in a research note on Thursday, November 7th. Royal Bank of Canada upped their target price on shares of CGI from C$170.00 to C$178.00 in a research note on Thursday, November 7th. Raymond James lifted their price target on CGI from C$171.00 to C$180.00 in a research note on Thursday, November 7th. Finally, CIBC raised CGI from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from C$155.00 to C$178.00 in a research report on Tuesday, October 15th. Eleven equities 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 an average target price of C$169.83.

CGI Stock Performance

The company has a market cap of C$32.54 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The stock has a 50 day moving average price of C$156.57 and a two-hundred day moving average price of C$148.70. 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 announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 20th will be given 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 0.38%.

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.