Seeking Alpha

CGI Group falls on heels of HealthCare.gov snafu

  • Shares of CGI Group (GIB -2.9%) fall after a report by Millard Brown Digital states that fewer than 1% of those trying to register on HealthCare.gov under the Affordable Care Act succeeded in doing so during the site's first week of operation. CGI Federal is the IT contractor responsible for the website's development.
  • Separately, Jefferies initiated CGI at Hold with a PT of $37, observing, ironically, that CGI has a "strong track record of operational execution and above average profitability." However, organic revenue opportunities are "underwhelming" and the "underlying quality of the Logica asset remains to be seen. Valuation (13.7x C14 P/E) looks fair."
From other sites
Comments (2)
  • wigit5
    , contributor
    Comments (4222) | Send Message
     
    They should probably just leave that off their resume...

     

    "What did you do again Obamacare website? Well thanks for coming in heck of an interview!"
    17 Oct 2013, 03:49 PM Reply Like
  • gdimitrov
    , contributor
    Comments (11) | Send Message
     
    Funny thought. An interesting read about the situation: http://wapo.st/19NjUl2
    17 Oct 2013, 03:51 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs