Capgemini Shares Lagging in CAC 40, Approaching Support at €87.82
In mid-morning trading, the digital services group's stock is sharply declining, moving against a CAC 40 that is in the green. The downturn brings the stock in contact with a technical support that has been significantly tested in recent weeks, in a context where moving averages continue to trend downward.
A Decline Bringing the Stock Close to the €87.82 Support
Capgemini shares have fallen 2.27% to €89.50, down from €91.58 the previous day, while the CAC 40 is up 0.18% at 8,355 points. The stock occupies the last position in the Paris index, marking the steepest drop of the session, alongside Dassault Systèmes (-1.43%) and Eurofins (-1.91%). This new decline brings the price closer to its support at €87.82, now only about 1.9% away, a level that was already tested in early July when the stock hit a six-year low. The technical setup remains poor: the price is below its MM20 (€90.65, a gap of -1.27%) and especially far from its MM200 at €115.17, a gap of over 22%. The RSI at 48 indicates a lack of clear short-term trend, consistent with a stock that falls just after an attempted rebound documented on July 13.
A Fundamental Downturn Weighing on Valuation Despite Modest Multiples
Beyond today's session, the medium-term trajectory remains heavy: Capgemini has lost 17.81% over three months and 35.12% over a year, despite a nearly flat monthly performance. This discount is reflected in the valuation: according to the consensus of analysts surveyed, the stock is trading at about 7 times the expected earnings for the current fiscal year and 6.5 times those of the next fiscal year, with an expected EPS growth of 7%. The macro context does not help: Chinese indicators remain mixed (non-manufacturing PMI at 49.4 in April, OECD CLI at 98.57 in June below its trend), a factor weighing on providers exposed to international IT spending. In the United States, industry benchmark Accenture was up 0.81% at the last quote. The next concrete milestone remains the publication of the semi-annual accounts, during which the group is in a quiet period. The behavior of the support at €87.82 is the most closely watched technical marker in the short term.
