CGI (TSE:GIB.A) Shares Cross Above 200 Day Moving Average – Should You Sell?

CGI Inc (TSE:GIB.A) (NYSE:GIB)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$156.79 and traded as high as C$169.38. CGI shares last traded at C$168.55, with a volume of 429,714 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GIB.A shares. Desjardins increased their price target on CGI from C$178.00 to C$190.00 and gave the company a “buy” rating in a report on Thursday, January 30th. CIBC raised their target price on CGI from C$178.00 to C$183.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. TD Securities boosted their price target on CGI from C$180.00 to C$190.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Canaccord Genuity Group increased their price objective on shares of CGI from C$175.00 to C$190.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Raymond James boosted their target price on shares of CGI from C$180.00 to C$183.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$178.31.

CGI Stock Performance

The company has a market capitalization of C$34.35 billion, a P/E ratio of 23.57, 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 business’s fifty day simple moving average is C$162.09 and its 200-day simple moving average is C$156.79.

CGI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 21st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.36%. The ex-dividend date is Friday, February 14th.

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.