Capgemini stock slides below €107 and falls back to the bottom of the CAC 40
Capgemini is showing a sharp decline mid-morning on Wednesday, September 16, in a Paris market that is holding steady. The digital services group is back at the bottom of the CAC 40 rankings, as investors monitor the Fed's decision on its benchmark interest rates, expected later in the day.
A decline that brings the stock below its 20-day moving average, at the lower end of the technical range
Capgemini is falling 2.48% to €106.00 in trading, thus erasing most of the rebound recorded on Monday. The stock is falling back below its 20-day moving average (€107.23), a decline of -1.15%, while remaining anchored above the 50-day MA at €102.09, with a margin of 3.83%. This configuration places the price within an intermediate range, well below the 200-day MA at €110.53 (a decline of 4.10%), which remains a medium-term trend benchmark.
The RSI at 56, still in neutral territory, does not signal bullish exhaustion but confirms that today's movement is more corrective than structural. The support level at €101.15, already tested during the September 9 session, remains the reference level in case of further decline.
The sale of the American federal subsidiary and analyst opinions outline the key issues
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The Capgemini case remains marked by the sale of Capgemini Government Solutions to ITC Federal, an agreement signed on September 12 and still subject to closing conditions. This refocusing operation had triggered a jump of more than 4% on Monday before the stock gave back much of these gains on Tuesday. On the analyst side, CIC Market Solutions maintains its buy rating with an unchanged price target of €170.00, published on September 14, which represents an upside potential of approximately 60% compared to the current price.
On the fundamental side, management had raised in July 2026, when releasing first half 2026 results, its growth target at constant exchange rates for the full year to approximately +8.5% to +9.0%. Based on expected earnings per share, according to the consensus of analysts covered, the stock is trading at approximately 8.4 times the earnings of the current fiscal year, a valuation that offers upside potential toward the median analyst target. Resistance at €111.40 now constitutes the first hurdle to overcome to regain more solid momentum.
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Context
Period
Period: T3 2026
Key reported figures
Revenue: 6 073 millions d'euros
Quarterly revenue: 6 073 millions d'euros
Revenue growth: 12,6 %
Guidance from the release
« Forts de ce trimestre, nous relevons notre objectif de croissance du chiffre d'affaires pour 2026, désormais compris entre +9,0 % et +9,5 % à taux de change constants, tout en confirmant nos objectifs de marge opérationnelle et de free cash flow organique. »
Opportunities identified
Demande croissante pour la transformation des entreprises par l'IA agentique
Modernisation de l'infrastructure technologique et déploiement du nouveau stack technologique
Opportunités dans le secteur de la défense et autour des enjeux de souveraineté
Outlook / guidance
Expected revenue: 24 543 millions d'euros
Management commentary: « Pour l'exercice 2026, le Groupe vise désormais les objectifs financiers suivants : Une croissance à taux de change constants du chiffre d'affaires de +9,0 % à +9,5 % (contre précédemment de l'ordre de +8,5 % à +9,0 %). »
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
