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Technology Stocks : Cognicase (COGI, T.COG) - Integrated IT Solutions

COGI 4.550

+8.3%

Jul 18 5:00 PM EST

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To: Done, gone. who wrote (40)	11/20/1997 8:09:00 PM
From: March_fin	Read Replies (1) of 843

Here are my toughts about COGIF. Over the last 2 weeks there was two bad days for COGIF. 13th and 20th of November. Looking more closely to the trades and volume: 13th: 439,300 - two trades of 200,000 each! -17% 20th: 326,100 - one trade of 200,000 -10% Usualy the volume is about 30,000 - 50,000 per day! A lot of small investors, looking at the drop, are loosing confidence and selling. As everybody know, some institutions are buying IPOs with the goal of making quick money (speculation). For COGIF, speculators objectives were not reached, so they had to "dump" the stock to "speculate" elsewhere. These people do not like to have money sleeping too long! I think (and I want to share it!) that good days will come. I still think that this stock will be at 16.00 in Spring 98, and 20.00 in October 1998. I read a report from Volpe Brown Wheland: They are recommending COGIF as "strong buy" with a target of 22.00 for october 1998. The real issue here is: reaching the growth and profits. I am looking forward to see them in December. I am from Montreal and I can tell you that COGNICASE is very popular in the local papers. Surprisingly, 60 % of their revenues are coming from the STATES. Today, the closing price was 8.00$. This mean a PE FY98 of 26x. This is cheap. If Analysts were evaluating it at 12.50$ less than eight weeks ago...

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