CGI Reports Solid Start to FY19; Notes Some Caution but Digital Services Thrive; Shares Overvalued
CGI reported a solid start to fiscal 2019, with financial performance mostly in line with our expectations. Despite some headwinds, such as Brexit, the U.S. government shutdown, and the paring back of low-margin contracts in Europe, CGI’s performance was resilient, with revenue up in the midsingle digits year over year. Management said that they are seeing a particularly cautious outlook from manufacturing and retail clients, with these industries adjusting their spending priorities in anticipat...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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