CGI (TSE:GIB.A) Reaches New 12-Month High – Here’s What Happened

CGI Inc (TSE:GIB.A) (NYSE:GIB) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$160.74 and last traded at C$160.58, with a volume of 50497 shares trading hands. The stock had previously closed at C$159.66.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GIB.A shares. Scotiabank boosted their price target on CGI from C$160.00 to C$170.00 in a report on Friday, August 2nd. BMO Capital Markets raised their price target on CGI from C$160.00 to C$170.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. TD Securities increased their target price on CGI from C$160.00 to C$180.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their price target on shares of CGI from C$121.00 to C$132.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Desjardins increased their price objective on shares of CGI from C$166.00 to C$172.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$167.17.

CGI Stock Performance

The company has a fifty day moving average of C$152.61 and a 200 day moving average of C$145.81. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The stock has a market cap of C$32.71 billion, a P/E ratio of 22.33, a PEG ratio of 2.24 and a beta of 0.86.

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.