CGI to part ways with Massachusetts. “Not material,” says Cantor

Blue Cross Blue Shield of Massachusetts VP Sarah Iselin says the state will part ways with CGI Group. But Cantor Fitzgerald Canada analyst Justin Kew says he expects contract will run its full term, to September 2014.

More bad press in the U.S. for CGI Group (TSX:GIB.A) is sound and fury, but it signifies nothing, says Cantor Fitzgerald analyst Justin Kew. Yesterday, the Boston Herald ran a salacious headline: “Massachusetts firing Obamacare contractor CGI”. Sarah Iselin, a VP with Blue Cross Blue Shield of Massachusetts, broke the news. “We have made the [...]

CGI Group CEO Michael Roach talks to Cantech Letter

Roach on "We believe that CGI’s role and the facts surrounding this historical and complex initiative will become clear in the fullness of time."

One of the eternal frustrations with the media business is that a salacious scoop gets page one, and the retraction correcting all the things wrong with it comes a week later, on page 56. Sizzle sells. The facts? Sometimes not so much. Late last year, Montreal’s CGI Group (TSX:GIB.A) became embroiled in the fallout around [...]

Cantor’s Kew: Q1 Doesn’t Change my Bullish view of CGI Group

Cantor Fitzgerald analyst Justin Kew says his confidence in CGI Group comes from growing momentum in its pipeline that he believes will translate into expanded revenue and EBIT.

After reporting its Q1, 2014 results shares of CGI Group (TSX:GIB.A) dipped today, but Cantor Fitzgerald analyst Justin Kew says his view on the company’s fundamentals hasn’t changed. CGI reported net earnings of $189.8-million or $0.60 a share on revenue of $2.6-billion. Kew had been expecting EPS of $0.71 on revenue of $2.6-billion. “We delivered [...]

Ahead of Q1 results, Cantor Fitzgerald says buy CGI Group

Cantor Fitzgerald analyst Justin Kew notes that the Indian rupee has depreciated 7% year-over- year and has increased the purchasing power of the Canadian dollar. Overall, he expects foreign exchange will have a slightly positive impact on CGI's Q1 EBIT margins.

Foreign exchange tailwinds will help solidify a quarter for CGI Group (TSX:GIB.A) that was already looking good, says Cantor Fitzgerald analyst Justin Kew. On Wednesday, before market open, CGI will release its Q1, 2014 results. The company is following on a Q4 in which it posted EPS of $0.67 on revenue of $2.5-billion, up 53% [...]

Cormark dispels the “lingering and recurring bear thesis” around CGI Group

Cormark analyst Richard Tse says representing CGI's recent decline in cash flow as a normalized run rate is simply not reflective of the the company's outlook going forward post the integration of Logica.

The recent negativity surrounding CGI Group’s (TSX:GIB.A) involvement with will ultimately be eclipsed by the continued progress of its contrarian acquisition of Logica, says Cormark analyst Richard Tse. Shares of CGI fell this week after Jim Chanos of Kynikos Associates announced that he had made the stock one of his largest short positions. Chanos [...]

Following upbeat Q4, Cormark raises target on CGI Group

Cormark analyst Richard Tse believes there will be another leg up for CGI Group that will be driven by top line revenue and booking synergies.

Cormark analyst Richard Tse says synergies from CGI Group’s (TSX:GIB.A) acquisition of Logica will continue to have a positive impact on the company. Yesterday, CGI Group reported its Q4 and fiscal 2014 results. The company’s fourth quarter topline spiked nearly 53% to $2.5-billion. Tse says the quarter was stronger than he expected, particularly in terms [...] fiasco won’t have a lasting impact on CGI Group, says Kew

Cheryl Campbell, a senior vice-president at CGI Federal defended her company's role in the fiasco.

The recent negative press coverage for CGI Group (TSX:GIB.A) is unlikely to have a material or lasting impact, says Cantor Fitzgerald analyst Justin Kew. CGI Group has been embroiled in the fallout around the poor performance of the site, which has been plagued by problems since launching on October 1st. While some, including Marilyn [...]

It’s time for BlackBerry to get out of the way of Canadian tech

Outgoing CEO Thorsten Heins. BlackBerry woes have overshadowed a Canadian tech scene that has never been more vibrant.

“You’re a tech guy, huh? What about BlackBerry? Pretty bad, eh?” This is the reaction I often get when someone I meet finds out that what I do is all about Canadian technology. Today, I’m afraid to leave the office, much less engage in casual banter while waiting for my double-double. BlackBerry, of course, announced [...]

There’s still lots of upside in CGI Group, says Sprott ‘s Wilson

Sprott portfolio manager John Wilson says he wouldn't sell CGI right now, but instead would wait for the stock to hit the mid-forty range, implying about 17% upside from current prices.

Despite a run-up in its shares since a major acquisition a year ago, CGI Group (TSX:GIB.A) is still a buy, says one fund manager John Wilson, Co-Chief Investment Officer and Senior Portfolio Manager at Sprott Asset Management was on BNN’s “Market Call” yesterday and talked about Canada’s largest tech stock. Wilson says CGI has great [...]

It’s up 55%, but CGI Group still has upside, says Cormark

Cormark analyst Richard Tse, who raised his target by five dollars to $40 last week, today raised his target again, this time by two more dollars, to $42.

Cormark analyst Richard Tse says CGI Group’s (TSX:GIB.A) strong Q3 results prove that even though it is up 55% year-to-date, there is plenty of upside left in Canada’s most valuable tech stock. This morning, prior to the market open, CGI released its Q3, 2013 financials. The company earned $178.2-million on revenue of $2.57-billion, up 141% [...]