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

CGI Group Inc. (TSX:GIB.A)(NYSE:GIB) delivers end-to-end services that cover the full spectrum of technology delivery from digital strategy and architecture to solution design.

| More on:
stock analysis

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn moresdf

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.

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.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

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

More on Tech Stocks

A worker uses a double monitor computer screen in an office.
Tech Stocks

Why Shopify Stock Sold Off Last Week

Shopify (TSX:SHOP) sold off heavily last week. A bad earnings release may have been the culprit.

Read more »

Hand arranging wood block stacking as step stair with arrow up.
Tech Stocks

2 Phenomenal Growth Stocks Down 30-60% That Could Rally in the Next Bull Market

Is it time to buy growth stocks? The worst of the interest rate hike and inflation is over, and now…

Read more »

stock market
Tech Stocks

2 Best Tech Stocks to Buy Before the Next Bull Market

Tech stocks such as Roku and Nuvei can help long-term investors generate outsized gains in 2023 and beyond.

Read more »

Wireless technology
Tech Stocks

Tucows Stock Trades Near its 6-Year Low: Is it a Buy?  

Tucows stock fell 63% in the tech stock sell-off and has failed to show any recovery. Is this domain and…

Read more »

Male IT Specialist Holds Laptop and Discusses Work with Female Server Technician. They're Standing in Data Center, Rack Server Cabinet with Cloud Server Icon and Visualization
Tech Stocks

Is Converge Stock a Buy?

A relatively new tech stock could soar higher with the pause in rate hikes, although a resumption of the cycle…

Read more »

online shopping
Tech Stocks

Up by 25%: Is Shopify Stock Finally a Buy in 2023?

The strong rebound in the TSX’s top tech stock remains uncertain. Investors will have to wait before it delivers stellar…

Read more »

Businessman holding AI cloud
Tech Stocks

2 TSX Tech Stocks Innovating Hard in AI

Shopify (TSX:SHOP) stock and another intriguing Canadian gem make good use of AI technologies.

Read more »

worry concern
Tech Stocks

Shopify Stock: Incredible Bargain or Deceptive Trap?

Shopify has quickly shifted from a market darling to something else. Is it a safe buy or risqué bet?

Read more »