Computer Modelling Group (TSE:CMG) Shares Down 13.2% After Analyst Downgrade

Computer Modelling Group Ltd. (TSE:CMG - Get Free Report)'s share price traded down 13.2% during trading on Wednesday after Cibc World Mkts downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$8.75 and last traded at C$9.20. 228,500 shares changed hands during mid-day trading, an increase of 63% from the average session volume of 139,875 shares. The stock had previously closed at C$10.60.

Other analysts have also recently issued research reports about the company. Canaccord Genuity Group cut Computer Modelling Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from C$15.00 to C$12.00 in a research report on Wednesday, November 13th. CIBC reduced their price objective on Computer Modelling Group from C$14.50 to C$11.00 and set a "neutral" rating on the stock in a research note on Wednesday. BMO Capital Markets reduced their price target on Computer Modelling Group from C$14.00 to C$13.00 in a research report on Friday, December 13th. Raymond James reduced their price target on Computer Modelling Group from C$15.00 to C$13.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, Ventum Financial cut their target price on Computer Modelling Group from C$15.00 to C$14.00 and set a "buy" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Computer Modelling Group presently has an average rating of "Hold" and an average price target of C$12.67.

Insiders Place Their Bets

In related news, Director Kenneth Michael Dedeluk sold 10,000 shares of the company's stock in a transaction on Monday, January 20th. The stock was sold at an average price of C$10.50, for a total transaction of C$105,000.00. Also, Senior Officer Long X. Nghiem sold 15,000 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$10.20, for a total value of C$153,000.00. In the last quarter, insiders sold 325,210 shares of company stock worth $3,533,366. 1.03% of the stock is owned by company insiders.

Computer Modelling Group Stock Performance

The company has a market capitalization of C$689.85 million, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.97 and a beta of 1.21. The firm has a 50-day simple moving average of C$10.43 and a two-hundred day simple moving average of C$11.45. The company has a current ratio of 1.27, a quick ratio of 2.25 and a debt-to-equity ratio of 47.62.

Computer Modelling Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 13th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.20 annualized dividend and a dividend yield of 2.34%. Computer Modelling Group's dividend payout ratio (DPR) is presently 65.95%.

Computer Modelling Group Company Profile

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