Welcome to our dedicated page for CGI news (Ticker: GIB), a resource for investors and traders seeking the latest updates and insights on CGI stock.
CGI Inc. (TSX: GIB.A, NYSE: GIB) is a leading global IT and business consulting services firm headquartered in Montreal, Canada. Established in 1976, CGI has grown to become one of the largest independent firms of its kind, with a dedicated workforce of over 90,000 professionals across 40 countries. The company provides a comprehensive range of services including consulting, systems integration, application maintenance, and business process services.
CGI’s extensive portfolio is designed to help organizations digitally transform their operations to achieve better efficiencies and results. Its major sectors of operation include government, healthcare, financial services, telecommunications, and utilities, among others. Notably, the government sector contributes more than one-third of CGI’s annual revenue.
CGI recently secured several significant contracts, including a five-year $162 million partnership with the UK Government's Cabinet Office to enhance their digital, data, and technology services. Additionally, CGI is involved in the modernization of Los Angeles County's ERP systems and continues its collaboration with Market Operator Services Ltd (MOSL) in managing core water retail market platforms in England.
Financially, CGI reported a fiscal 2023 revenue of CA$14.30 billion, demonstrating stable growth with strong net earnings and cash generation. The company leverages a local relationship model supported by a global delivery network, positioning it to deliver tailored solutions and drive innovation across various industries.
Recent leadership changes include the appointment of François Boulanger as President and CEO, effective October 1, 2024, indicating a strategic focus on sustained growth and operational excellence. CGI continues to enhance shareholder value through strong profitability, cash generation, and strategic share repurchases.
CGI's future outlook includes executing its
HSBC has introduced HSBC Trade Solutions (HTS) in its primary markets, the UK and Hong Kong, to streamline trade finance processes. This digital platform, developed with CGI (NYSE: GIB), enhances client experience through intuitive interfaces and automation. HTS supports USD800bn of global trade annually and integrates advanced risk management tools. Currently operational in the UK and Hong Kong, HTS will expand to more markets. The platform marks a significant evolution in HSBC's trade finance offerings, aligning with ongoing technological and ESG advancements.
On September 28, 2022, George D. Schindler, President and CEO of CGI (TSX: GIB.A, NYSE: GIB), will participate in a keynote interview at the Bloomberg Canadian Finance Conference in Montréal. He will discuss the evolving digitization landscape and how businesses are leveraging technology amidst global changes. The interview will commence at 11:55 am EDT and be streamed live on Bloomberg Live, with a replay available on CGI's website. CGI, established in 1976, is a leading global IT and business consulting firm, reporting revenues of $12.13 billion for Fiscal 2021.
CGI and UiPath Enhance Partnership to support enterprise automation initiatives through a new offering called CGI Accel360. This managed service model allows clients to onboard automation quickly, alleviating upfront costs and ensuring easier integration. CGI utilizes its industry expertise alongside UiPath's Business Automation Platform to drive success in digitization. Both companies are investing in training resources to enhance the impact of automation initiatives. This partnership aims to transform operations and improve customer experiences.
CGI Federal has launched the Sunflower Work Management platform, enhancing project visibility and asset management for federal agencies. This cloud-based solution is designed to manage customizable work processes for asset maintenance and aligns with international asset management standards (ISO 55000). John B. Owens II, Senior VP at CGI Federal, expressed excitement for this product, which aims to ensure efficient management of complex business processes. CGI reported a fiscal 2021 revenue of $12.13 billion, with shares listed as GIB on NYSE and GIB.A on TSX.
CGI (TSX: GIB.A, NYSE: GIB) has integrated its OpenMedia newsroom solution with Microsoft Teams, enhancing communication for journalists and producers amid rising digital transformation needs. This integration addresses workflow challenges caused by remote newsgathering and multiple broadcasting channels, ensuring effective data sharing. As a Microsoft Gold Partner, CGI aims to streamline collaboration for news teams, responding to increased demands for flexible news production. CGI reported revenue of C$12.13 billion in Fiscal 2021.
CGI Federal has successfully upgraded nearly 20 federal clients to the latest version of its ERP solution, Momentum®, enhancing compliance with the U.S. Treasury's G-Invoicing platform. This upgrade streamlines interagency agreements and automates G-Invoicing processes, allowing agencies to efficiently handle orders, performance tracking, and fund transfers. Senior Vice-President John B. Owens II highlighted the importance of these enhancements in meeting the October 1 deadline for G-Invoicing implementation. CGI Federal aims to continually adapt its solutions in response to future Treasury requirements.
CGI has achieved a platinum rating from EcoVadis, placing it in the top 1% of companies in the computer programming and consultancy sector. This rating highlights CGI's effective sustainability initiatives across vital categories, including environment and labor rights. Previously rated gold for four consecutive years, CGI aims for net zero emissions by 2030 and is committed to diversity and community impact. The company reported C$12.13 billion in revenue for fiscal 2021 and continues to enhance its sustainability performance globally.
CGI and CI Financial have initiated a long-term partnership to transform CI's investment fund transfer agency operations. CGI will manage and modernize CI's proprietary transfer agency platform, shifting it to a software-as-a-service (SaaS) model. The collaboration aims to enhance service capabilities and efficiency, benefiting clients and employees alike. CI will maintain its role as the transfer agent while leveraging CGI's technological expertise and global resources to accelerate digital transformation. This partnership marks a significant milestone for both companies in the financial services sector.
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