STOCKCHASE

(A Top Pick Jan 20/11. Down 0.7%.)

2012-01-16

TOP PICK

19.690

Every 4-5 days they announce a new contract win. Building up a great portfolio of contracts. On a go forward basis, they're trading at 7X next year's earnings. Very cheap.

2011-10-17

TOP PICK

18.200

Trading at 7.5X 2012 earnings with a 22% ROE. A lot of its IT services are in the government sector. There is a lot of seasonality to technology and we are just entering a period now for technology companies. Should go back to $23-$24 pretty quickly.

2011-09-08

SELL

21.450

Good company, but the stock has a long history of not rewarding investors very much. All-time high and he would be tempted to take money off the table. A major headwind could be the US government's cutback on services. The high Cdn$ hurts companies like this.

2011-07-22

TOP PICK

22.490

There is a concept of capital management that is a big part of their story. Buying back their stock very rapidly so even if it is a year of not big profit growth, you are getting consistent EPS growth.

2011-07-11

TOP PICK

21.860

Michael Smedley

It has got swept up in this new buzz phrase – cloud computing and this is very real. These people are very much an accredited supplier to management services, data, US government and security areas. They have started landing contracts and are ahead in their field in the US. Don’t pay dividend, but they buy back their own stock.

2011-06-14

TOP PICK

22.340

11% of 1st quarter free cash flow yield so are throwing off a massive amount of cash allowing them to buy back stock. Earnings on July 27th expected to be $0.38, up 38% from last year. Expected to earn $1.58 as at Sept/11, up 33% from last year. 13.8X PE.

2011-05-31

TOP PICK

21.140

Has been around for a long time but something has changed in the last 5 years. Managing their balance sheet a lot more intelligently. Great defensive name but also has great growth at 20% a year.

2011-05-25

DON'T BUY

20.300

James Hodgins

Have done a fantastic job of growing the company. He is negative on the stock here. Most of their business comes from Federal, Provincial and US government bodies. Those budgets are shrinking. Fully valued.

2011-04-21

DON'T BUY

20.020

Lorne Steinberg

A Montreal success story. They go into companies and do their IT for less cost, saving the client money. Doubled in the last two to three years. Trading on the highest valuation since the ,com days, so there is nothing left in the stock.

2011-03-25

PAST TOP PICK

19.460

Martin Hubbes, CFA

(A Top Pick Feb 18/10. Up 33.67%.) Taken a bit of profit on this. Still a good company. Cisco (CSCO-Q) just missed on government contracts so wonders if they will see a hiccup like that as 25%-30% of their business is government.

2011-02-15

BUY

18.740

He absolutely could own this stock. It is a sector that is absolutely on fire. Companies are spending money bringing IT into the next generation. A lot are sending services outside and hiring companies like CGI. Yes, at some point they could get bought.

2011-01-25

TOP PICK

18.410

Number 3 globally in their space. Significant valuation discount to IBM (IBM-N). Could go to $25 in the next 12 months.

2011-01-20

BUY

17.210

Michael Smedley

Grown solidly and steadily and just recently got out of the $15 level. Doesn’t pay dividends, but buys back stock and most employees hold the stock. People don’t realize it is doing as well as it is.

2011-01-07

PAST TOP PICK

17.100

(A Top Pick Feb 3/10. Up 15.71%.) Sold his holdings at a gain.

2011-01-05

PAST TOP PICK

15.540

(Top Pick Nov 30/09, Up 4.63%) Still loves it.

2010-11-08

PAST TOP PICK

15.410

(A Top Pick Oct 19/09. Up 16.68) Looks pretty good but sold his position for a better opportunity.

2010-10-27

BUY

14.800

Peter Brieger

Software company. Have made some interesting acquisitions. As markets improve, high tech in general, and this one in particular, will recover.

2010-09-21

PAST TOP PICK

14.900

(A Top Pick Aug 4/09. Up 32%.) Looks like it is base building now and would be interested if it came back and little. In a strong category and a well run company.

2010-09-20

PAST TOP PICK

14.820

(Top Pick Aug 26/09, Up 31.14%)

2010-08-23

PAST TOP PICK

14.680

(A Top Pick Aug 4/09. Up 33.5%.) Nice upward trend with a bit of a spike in May followed by a drop-off in July. Sold his holdings.

2010-08-18

PAST TOP PICK

16.000

(A Top Pick Aug 4/09. Up 45%.) Fantastic company that he is a little bit cautious on the market right now.

2010-07-08

PAST TOP PICK

15.990

(A Top Pick Aug 26/09. Up 44.93%.)

2010-06-22

PAST TOP PICK

15.250

(Top Pick Aug 26/09, Up 35%)

2010-04-26

BUY

15.200

This is a sector that has seen very strong market leadership. IT services sector has been the leader since before the market bottomed. Have been able to continue to grow revenues. Believes we are in an enterprise upgrade in corporations. Can see them squeezing out extra margins in their existing contracts.

2010-03-31

PAST TOP PICK

15.280

(A Top Pick March 11/09. Up 63.49%.) Still likes.

2010-03-18

PAST TOP PICK

14.800

(Top Pick Aug 25/09, Up 33.54%) Had a good run, would wait for it to consolidate a bit here.

2010-02-26

TOP PICK

14.700

Martin Hubbes, CFA

Outsourcing infrastructure is a way for companies to cut costs. They have been steadily growing in the US. It’s a sleep-at-night stock. They have long life contracts and can survive market volatility. The biggest risk is that the stock will be lumpy.

2010-02-18

TOP PICK

14.700

The model price is 20.79, a 42% positive differential. Earnings estimates have been going up again so his model price has been rising.

2010-02-03

PAST TOP PICK

13.100

(A Top Pick Jan 26/09. Up 35%.) 14% earnings surprise. $1.09 forecasted earnings for 2010, up 8%. Not expensive at 12X PE. Other stocks he prefers.

2009-11-17

TOP PICK

13.370

IT Outsourcing. Long term contracts. Near term catalysts: continually adding to their backlog; good at growing cash flow. There has been a lot of consolidation in the industry, causing an expansion in the earnings multiple.

2009-10-19

PAST TOP PICK

13.600

(A Top Pick Aug 26/09. Up 21%.) Doing well in the US and owners do not want to be acquired.

2009-10-15

TOP PICK

11.240

Outsourcing services and consulting assistance integration. Latter business has suffered in the recession but they have been getting new contract wins in the US. Have grown their backlog so there is good earnings visibility.

2009-08-26

TOP PICK

11.000

Doesn't own yet will Buy on weakness below $10.24 or on strength above $11.68. Could reduce debt in the next 3 quarters if it chooses to. Earnings and revenue are up and could start to pay dividends if it chose to.

2009-08-04

TOP PICK

10.710

Recent 1.3 Billion of new contracts, earnings expected to grow at 15%. Free cash flow generator (14%). They can take that cash and pay out dividends, buy back stock or make acquisitions.

2009-04-29

TOP PICK

9.230

Boring is currently beautiful. Stock has traded in a very long sideways band. Reasonably priced at 9X PE. Free cash flow yield is about 16%. Have very long-term visible contracts and customers continue to outsource to them. $8.25-$8.50 would be a stoploss.

2009-03-11

HOLD

10.440

Outsourcing in the computer area. Margins are modest. Recently made a small asset sale, nothing of major significance. In this environment, it is not a bad stock to hold.

2008-07-23

BUY

10.690

Strong backlog

2008-05-30

PAST TOP PICK

10.550

(A Top Pick May 16/07. Down 4%.) Outsourcing space is a good place to be. Based on Hewlett-Packard (HPQ-N) bid for Electronic Data Systems (EDS-N), this stock could be worth more than the market is showing. In a long-term uptrend.

2008-05-22

BUY

10.250

Pierre Bernard

Very attractive at the current price especially in this environment where there is a fight between Hewlett-Packard (HP-N) and IBM (IBM-N). Generates good cash flow.

2008-05-21

BUY on WEAKNESS

11.720

Duncan Stewart

The utility of the Canadian, so don't look at it to double or triple. Chart indicates it is a perfect trading vehicle. Seems to bounce between $10 and $12.

2008-04-25

WEAK BUY

10.900

The stock’s been consolidating since April last year. This could do pretty well. Likes steady growers in this environment, which this is. In this type of environment, outsourcing companies tend to do pretty well.

2008-03-31

HOLD

11.250

Stock has preformed well in last year. Have had great contracts. IT Space is looking better. Not sure there’s a huge upside. Better days are probably ahead.

2007-09-26

BUY

10.800

The model price is $15.13, a 43% positive differential.

2007-08-22

TOP PICK

11.570

His model prices $16.91, a 47.5% positive differential.

2007-06-21

TOP PICK

11.000

Largest IT group in canada. Beat the estimate by 9%. Still buying at these levels.

2007-05-16

HOLD

10.010

Has performed very nicely. Last quarterly report was very strong. Renewing their agreement with the national Bank. Have a big backlog. Has a little bit of upside.

2007-03-29

BUY

9.960

His model price is $14.41 which is a 44% positive differential. Had some great earnings.

2007-03-08

BUY

9.960

Gavin Graham

Have gotten away from their reliance on Bell Canada (BCE-T), making it much more liquid. Writing new contracts at profitable margins.

2007-03-06

BUY

9.490

Had a fairly good quarter.

2007-02-13

BUY

8.510

John Manley

Broke a downtrend line last fall and then started a new up trend line. Kind of choppy in the way it's going, but has found fairly steady support along the trend line. Starting to break just above its previous resistant point. The MACD is curbing up indicating momentum is to the upside.

2007-01-24

PAST TOP PICK

8.250

(A Top Pick Jan 7/06. Down 13.2%.) The model price is $13.25 giving a 63% positive differential.

2007-01-17

WATCH

7.950

Ian Nakamoto

Doesn't have the specs with him, but it did it has a rising earnings profile it should do very well.

2007-01-11

DON'T BUY

8.040

Doesn’t see anything to drive this stock up in the short term. Doing a good job of slowly replacing the business they lost from BCE. There’s no real trigger.

2006-12-12

DON'T BUY

8.320

Michael Sprung

Does a lot of contract work in the computer software area. Largest contracts are government related. Hasn’t hit his radar screen as far as valuations go.

2006-12-08

DON'T BUY

7.730

Jeff Parent B. Eng. FCSI

Had a rough go of it in April with the 50 day moving below the 200 day average. The 50 is now moving up but stalling a bit. He sees support at $7. There are 2 points of resistance, $7.85 and $8.50. Trading in a pretty big range so he is a little leery of the stock.

2006-11-02

DON'T BUY

7.420

The company has had some problems. It is cheap but believes it is dead money.

2006-09-27

HOLD

7.240

Bought back their shares from BCE and this should typically strengthened their earnings. They have been under pressure regarding their margins. The strategy of growing in the US has been slow. Multiple is extremely low. Stock should go higher from here.

2006-08-18

WAIT

7.070

Until all the BCE business is out of their systems, you won't see a bottoming of this stock.

2006-06-27

DON'T BUY

8.170

Looking cheap. This is not that much going on with the story. They'll be losing a lot of the BCE business.

2006-04-13

DON'T BUY

8.430

David Driscoll

He would avoid this one right now because their biggest competition is still IBM. They are growing through acquisitions but they are not growing organically.

2006-04-06

HOLD

7.930

This is a company that is going through a large transition. Recently, they bought back their shareholding in BCE. There was a call that revenues will be down from last year, but they are cutting costs. It's really about earnings. The company has lots of fat and his model price is $15.77.

2006-03-29

SELL

8.500

Jean-Francois Tardif

CGT Group is a previous pick from Dec. 23. Generated cash flow less than anticipated and sales were down so he sold his position. He still believes that the stock is cheap and could be taken over. He felt there were better opportunities elsewhere.

2006-03-16

HOLD

8.620

Ron Meisels

Behaving well, he likes it. Right now it's showing a downward trend. If it hits below $8.50 sell, otherwise give it a chance.

2006-02-21

TOP PICK

9.350

Likes that they bought Bell Canada’s holdings back from them. This lowers their balance sheet weight and they upped their earnings estimates. His model price is actually going up considerably and is currently at $15.90. A 67% differential. Analysts are predicting $.63 in earnings for Sept/o7 and $.72.

2006-01-17

TOP PICK

8.840

Jean-Francois Tardif

At September year-end, they had about $375 million in free cash flow and he expects $500 million next year. The fact that they buy back shares is an extremely important vote of confidence.

2005-12-23

BUY

8.600

Likes this stock. It looks well in terms of his model price. Will be looking forward to increases in the earnings estimates. His model price is around $14. The stock hasn't moved for a while, but once the Bell position gets out of the way it has good prospects going forward.

2005-12-21

BUY

8.420

Has been a favourite for quite a long time and just keeps trading in the $7.50/8.50 channel.

2005-11-10

BUY on WEAKNESS

8.580

Ranks neutral in his database. In Sept/06 earnings are expected to grow from $0.49 to $0.57, a 16% increase, against a 15 P/E gives you a P/E to growth of about .9. Sales are up about 7%. Good management.

2005-09-15

SELL

8.550

Ross Healy

Not bullish on the high technology sector generally. This stock had a little rally but nothing more is expected. Running into some good technical resistance. Fair market value is about $14/14.50, but the technical signal says no and he would exit.

2005-09-14

DON'T BUY

6.980

Came to the conclusion that the market was never going to put a very high value on this stock so hasn't owned for a couple of years. Consulting businesses come and go, very competitive and low margins. This company has a good backlog, seems to make money, revenue grows year after year. Not a sector he wants to be in.

2005-05-24

DON'T BUY

7.000

This is a company that doesn't get a lot of respect. It's a big company, do tremendous sales volume, have a huge backlog, always make a profit, but nobody seems willing to pay up for it. Doesn't know why, but got fed up and sold it.

2005-05-10

PAST TOP PICK

7.240

(A Top Pick Nov 30/04. Down 7%.) Deeply disappointed with what the share price has been doing recently. Still sees a company with very strong growth rate, very strong management, making inroads into the US.

2005-04-20

DON'T BUY

7.700

Ross Healy

Fair market value for the company is about $12, so there's some visible upside potential and very strong technical support at the $7.40/7.60 area where it's been bouncing along pretty much all year. Shows no real ability to go forward, so it's a wash and just bounces there for awhile.

2005-04-07

WAIT

7.720

Ranks in the midpoint of the database. Recently reported earnings. Continues to be cheap. Earnings estimates have been shaved by about 4% over the last 90 days. P/E is 14 X against 10 % earnings growth. Trades at about a 30% discount to its US comparables. Waiting for a better opportunity in the market before buying.

2005-02-11

TOP PICK

7.510

Scott Morrison

A contrarian pick. Looking at it relative to its peers in the US trades at about 10 X earnings versus a multiple in the teens. Good free cash flow yield. Made a US acquisition last year which should help them show growth this year.

2005-01-14

HOLD

8.030

Ranks 461 out of 700 in their data base, borderline bottom 40%. Earnings estimates have gone down by about 10% in the last 3 months. Year over year sales are flat and earnings up 8%. Expected to have growth. Should continue to benefit from offshore outsourcing.

2004-12-09

DON'T BUY

7.800

David Driscoll

Small fish in a big pond. IBM is their biggest competitor, so that's who they have to beat out to get access to the US market in a big way.

2004-12-08

WEAK BUY

7.750

David Chapman

A long base has been forming since 2002. Bases can take a long time to form. Short term chart show it failed twice to break through $9. Perhaps in a trading range of $7/9.50. A ltlle bottom seems to be forming, so there could be a little upside.

2004-12-03

TOP PICK

7.850

Has faith in management and what they are doing. Dramatic increase in sales over the last few years. Significant increase in earnings.

2004-11-30

WEAK BUY

7.950

Duncan Stewart

A terribly dull industry with not a lot of growth. Management is very good at making acquisitions. Not a fan of outsourcing. Made a recent acquisition giving the risk of integration. Pretty good balance sheet and a bit of a safe bet. Good price.

2004-11-12

TOP PICK

8.130

20% + growth in revenues. 20.7% net earnings growth. Guidance shows 20/25% growth in earnings.

2004-11-02

DON'T BUY

7.800

Ron Meisels

Has been base building for a long time. Struggling.

2004-10-20

HOLD

7.680

News out of IBM was quite constructive and the space they are in is starting to turn around. CGI Is in a similar space.

2004-10-19

BUY

8.380

Has performed well on the earnings side, but has not performed well in the market. Ranks just below half of their database. Trades at about 40% discount to its US comparable. Cheap.

2004-10-08

DON'T BUY

8.470

Had owned for a few years, but hadn't done much since the .com bust. May be hurt by the strong Cdn$.

2004-10-04

BUY

8.500

Jackee Pratt

Report states they have 13 billion in back orders. Good little company. Well managed company.

2004-09-03

DON'T BUY

8.750

Got disappointed one too many times. It doesn't get the respect that it should in the market given its size and that it keeps making money. The whole IT consulting space has suffered a multiple compression.

2004-07-29

DON'T BUY

8.710

David Chapman

Topped out with the tech bubble in 2000 and will take a number of years of basing. The positive is it may have made a low in 2002.

2004-07-16

DON'T BUY

8.870

David Chapman

In a small uptrend right now but has to breakthrough previous tops. Long term chart shows it is still trying to form a base.

2004-06-28

BUY

8.870

Quite encouraged as they have been able to continue to advance their contract wins.

2004-06-28

TOP PICK

8.360

Making acquisitions and expanding their business. A well-run business. Good growth rate, year after year. Expanding into the US.

2004-06-09

PAST TOP PICK

8.200

(A top pick Oct 1/03. Up 6%.) Still likes. Its continuing to execute its plan. Strong growth. Continuing to make aquisitions. Moving into the US.

2004-05-10

DON'T BUY

8.160

Michael Sprung

Would like to see them diversify their client base a lot more. Pretty dependent on a couple of major contracts.

2004-05-05

BUY

8.250

Gavin Graham

Its wholly-owned subsidiary is buying AMS and claim it will increase earnings 15/20% over the next year. To do that, they may have to cut staff. Well-managed.

2004-04-27

BUY

8.570

Peter Arender, CFA

Looks interesting

2004-04-21

BUY

8.500

Good fundamentals. The problem is, it has Bell holding a lot of shares and the market is not sure if it will be sold.

2004-04-16

TOP PICK

8.600

Seems to trade in the channel between $7 &$9. Has been growing at a very fast rate. Well run. Should be successful moving into the US market.

2004-03-29

TOP PICK

8.920