CGI Group falls on heels of 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 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."

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Comments (2)
  • wigit5
    , contributor
    Comments (4365) | 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
  • SA Editor 2
    , contributor
    Comments (11) | Send Message
    Funny thought. An interesting read about the situation:
    17 Oct 2013, 03:51 PM Reply Like
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