CGI Reports In-Line 3Q, With Consulting Shift Positive Indicator; Shares Overvalued
CGI reported third-quarter results that were in line with our expectations. The firm continued to book business at a healthy level, with digital-related work driving a quarterly book/bill ratio of 118% (114% on a trailing 12-month basis). We continue to see digital services growth influence the firm’s business mix too, with systems integration and consulting being 53% of quarterly sales (digital work is more correlated with consulting), which is a considerably higher proportion than a year ago w...CGI Group is engaged in managing information technology services, including outsourcing, systems integration and consulting, software licenses and maintenance, as well as business process services to help clients realize their strategies and create added value.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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