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

Computer Modelling Group Ltd. (TSE:CMG)’s stock price traded down 13.2% on Wednesday after CIBC lowered their price target on the stock from C$14.50 to C$11.00. CIBC currently has a neutral rating on the stock. Computer Modelling Group traded as low as C$8.75 and last traded at C$9.20. 228,500 shares traded 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.

CMG has been the topic of several other research reports. Canaccord Genuity Group lowered shares of Computer Modelling Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$15.00 to C$12.00 in a research note on Wednesday, November 13th. BMO Capital Markets reduced their price objective on shares of Computer Modelling Group from C$14.00 to C$13.00 in a research note on Friday, December 13th. Raymond James reduced their price objective on shares of Computer Modelling Group from C$15.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Ventum Financial reduced their price objective on shares of Computer Modelling Group from C$15.00 to C$14.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Computer Modelling Group has an average rating of “Moderate Buy” and a consensus target price of C$12.67.

Insider Buying and Selling at Computer Modelling Group

In other news, Senior Officer Long X. Nghiem sold 15,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$10.20, for a total value of C$153,000.00. Also, Senior Officer Pramod Jain acquired 14,091 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of C$10.68 per share, for a total transaction of C$150,545.43. Over the last quarter, insiders have sold 325,210 shares of company stock valued at $3,533,366. 1.03% of the stock is currently owned by corporate insiders.

Computer Modelling Group Stock Performance

The company has a quick ratio of 2.25, a current ratio of 1.27 and a debt-to-equity ratio of 47.62. The company’s fifty day simple moving average is C$10.52 and its 200 day simple moving average is C$11.53. The stock has a market capitalization of C$714.06 million, a price-to-earnings ratio of 29.18, a P/E/G ratio of 1.97 and a beta of 1.21.

Computer Modelling Group (TSE:CMG) last posted its quarterly earnings data on Tuesday, November 12th. The company reported C$0.07 earnings per share for the quarter, topping the consensus estimate of C$0.06 by C$0.01. Computer Modelling Group had a net margin of 19.18% and a return on equity of 33.54%. On average, equities research analysts expect that Computer Modelling Group Ltd. will post 0.3055122 earnings per share for the current year.

Computer Modelling Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.26%. Computer Modelling Group’s dividend payout ratio (DPR) is currently 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.