CGI (TSE:GIB.A) Hits New 52-Week High – Should You Buy?

CGI Inc (TSE:GIB.A) (NYSE:GIB) shares hit a new 52-week high on Monday . The company traded as high as C$163.41 and last traded at C$163.05, with a volume of 52459 shares. The stock had previously closed at C$160.58.

Analyst Ratings Changes

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

CGI Trading Up 1.7 %

The stock has a 50-day moving average of C$157.21 and a 200 day moving average of C$153.10. The stock has a market cap of C$33.27 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.60 annualized dividend and a yield of 0.37%.

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.