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MARKETS LIVE BLOG:

STOCKS RISE AS TECHS REVIVE, WITH NETFLIX EARNINGS ON TAP

Tesla shares slide to 52-week low; stock is down roughly 40% year-to-date

1 of the Best Tech Stocks to Buy on TSX Today and Hold Forever

Nikhil Kumar
·3 min read
stock analysis

Founded in 1976 and headquartered in Montréal, CGI (TSX:GIB.A)(NYSE:GIB) is among the largest information technology (IT) and business consulting services firms in the world. The company delivers a full range of services, including strategic IT and business consulting, systems integration, intellectual property and managed IT and business process services to help clients accelerate digitization, achieve immediate cost savings, and drive revenue growth.

End-to-end services and solutions

CGI delivers end-to-end services that cover the full spectrum of technology delivery, from digital strategy and architecture to solution design, development, integration, implementation, and operations. The company’s portfolio comprises of strategic IT and business consulting and systems integration. CGI helps clients define a digital strategy and roadmap, and advance IT modernization initiatives through an agile, iterative approach that facilitates innovation, connection, and optimization of mission-critical systems to deliver enterprise-wide change.

Managed IT and business process services

Further, CGI’s clients entrust it with full or partial responsibility for the company’s IT and business functions to help clients become more agile and to build resilience into technology supply chains. In return, CGI delivers innovation, significant efficiency gains, and cost savings.

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Typical services in an end-to-end engagement include application development, technology infrastructure management and business process services, such as in collections and payroll management. Managed IT and business process services contracts are long term in nature, with a typical duration greater than five years, allowing CGI’s clients to reinvest savings, alongside CGI, in the digital transformation.

In addition, CGI’s intellectual property (IP) portfolio includes approximately 175 business solutions, some of which are cross-industry solutions. Designed in collaboration with clients, CGI’s IP solutions act as business accelerators for the industries it serves. These include business solutions encompassing commercial software embedded within CGI’s end-to-end-services, and digital enablers such as methodologies and frameworks to drive change across business and IT processes.

Deep industry expertise

CGI has long standing and focused practices in all of the company’s core industries, providing clients with a partner that is not only an expert in IT but also an expert in the client’s industries. This combination of business knowledge and digital technology expertise allows CGI to help clients navigate complex challenges and focus on how to create value.

In the process, CGI evolves the services and solutions it delivers within targeted industries. The company’s targeted industries include communications and media, banking, insurance, government, health and life sciences, manufacturing, retail and consumer, transportation and logistics, energy and utilities and space.

While these represent CGI’s go-to-market industry targets, the company group these industries into sub-groups for reporting purposes. The sub-groups include government, manufacturing, retail and distribution, financial services, communications and utilities, and health. As the move toward digitization continues across industries, CGI partners with clients to help guide companies in becoming customer and citizen-centric digital organizations.

Applied innovation

At CGI, innovation happens across many interconnected fronts. It starts in CGI’s everyday work on client projects, where thousands of innovations are applied daily. Through benchmark in-person interviews CGI conduct each year, business and technology executives share priorities with CGI, driving the company’s client proximity teams to focus on local client priorities.

The post 1 of the Best Tech Stocks to Buy on TSX Today and Hold Forever appeared first on The Motley Fool Canada.

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The Motley Fool recommends CGI GROUP INC CL A SV. Fool contributor Nikhil Kumar has no position in any of the stocks mentioned.

2021