CGI (TSE:GIB.A) Shares Down 0.9% – Should You Sell?

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. TD upped their price objective on CGI from C$99.00 to C$118.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce raised their target price on CGI from C$107.00 to C$108.00 in a research note on Thursday, July 30th. Stifel Nicolaus lifted their target price on CGI from C$110.00 to C$120.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Desjardins dropped their price target on shares of CGI from C$118.00 to C$115.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$124.00.

CGI Price Performance

The firm has a market capitalization of C$24.17 billion, a P/E ratio of 14.50, a P/E/G ratio of 2.24 and a beta of 0.29. The business’s fifty day moving average is C$104.05 and its 200 day moving average is C$100.30. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24.

CGI Announces Dividend

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