Computer Modelling Group (TSE:CMG) Sets New 52-Week High Following Dividend Announcement

Computer Modelling Group Ltd. (TSE:CMG)’s stock price reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The company traded as high as C$11.54 and last traded at C$11.45, with a volume of 152278 shares traded. The stock had previously closed at C$10.66.

The newly announced dividend which will be paid on Friday, June 14th. Investors of record on Thursday, June 6th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, June 6th. Computer Modelling Group’s dividend payout ratio (DPR) is 68.97%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CMG shares. Canaccord Genuity Group raised their target price on Computer Modelling Group from C$11.00 to C$12.00 and gave the company a “buy” rating in a research report on Friday. Acumen Capital raised their price objective on shares of Computer Modelling Group from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research note on Friday. Barclays raised their target price on Computer Modelling Group from C$8.00 to C$9.00 and gave the company an “underweight” rating in a research note on Tuesday, February 20th. Echelon Wealth Partners raised their target price on shares of Computer Modelling Group from C$11.50 to C$13.00 and gave the stock a “buy” rating in a report on Friday. Finally, CIBC set a C$13.50 target price on shares of Computer Modelling Group and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$11.75.

Computer Modelling Group Trading Up 9.7 %

The company has a debt-to-equity ratio of 59.81, a quick ratio of 2.25 and a current ratio of 1.76. The company’s fifty day moving average is C$10.56 and its two-hundred day moving average is C$10.11. The company has a market cap of C$1.01 billion, a price-to-earnings ratio of 42.79, a P/E/G ratio of 1.97 and a beta of 1.14.

Insiders Place Their Bets

In related news, Director Kenneth Michael Dedeluk sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of C$10.75, for a total transaction of C$107,500.00. In other news, Director Kenneth Michael Dedeluk sold 10,000 shares of Computer Modelling Group stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of C$10.75, for a total transaction of C$107,500.00. Also, Senior Officer Long X. Nghiem sold 40,000 shares of Computer Modelling Group stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of C$10.10, for a total transaction of C$404,000.00. Insiders sold 196,000 shares of company stock worth $2,020,420 in the last 90 days. Corporate insiders own 1.37% of the company’s stock.

About Computer Modelling Group

Computer Modelling Group Ltd., a computer software technology company, engages in the development and licensing of reservoir simulation software and related services in Canada and internationally. The company offers CMOST-AI, an intelligent optimization and analysis tool that offers solution for reservoir by combining advanced statistical analysis, machine learning, and non-biased data interpretation; IMEX, a black oil simulator that is used to model primary and secondary oil recovery processes in conventional and unconventional reservoirs; and GEM, an equation-of-state reservoir simulator for compositional, chemical, and unconventional reservoir modelling.