STOCK TITAN

CGI Inc. - GIB STOCK NEWS

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

Rhea-AI Summary

CGI reported strong Q1-F2022 results, with revenue of $3.09 billion, a 2.4% increase year-over-year. Adjusted EBIT rose to $521.5 million, up 5.2%, yielding an improved EBIT margin of 16.9%. Net earnings reached $367.4 million, growing by 7.0%, resulting in diluted EPS of $1.49, a 12.9% increase. Bookings totaled $3.60 billion, showcasing a book-to-bill ratio of 116.5%. The backlog stands at $23.58 billion, equating to 1.9x annual revenue.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.82%
Tags
-
News
Rhea-AI Summary

CGI (GIB.A, GIB) announced the renewal of its Normal Course Issuer Bid (NCIB) on February 2, 2022, pending TSX approval. The NCIB allows the company to purchase up to 18,781,981 Class A Shares, representing 10% of its public float. As of January 24, 2022, there were 216,915,512 Class A Shares outstanding. Previously, under the NCIB that ended February 5, 2022, CGI bought 11,518,331 Class A Shares at an average price of $101.86, totaling approximately $1.17 billion. The new repurchase program is expected to commence on February 6, 2022, aiming to increase shareholder value.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.82%
Tags
none
-
Rhea-AI Summary

CGI (NYSE: GIB; TSX: GIB.A) has secured a single-award Blanket Purchase Agreement (BPA) from the U.S. Department of Justice (DOJ) with a ceiling value of $250 million. This includes an initial Task Order worth $133.9 million over five years. CGI will manage systems supporting DOJ's Unified Financial Management System and Unified Asset Management System, enhancing digital transformation and efficiency. This award underscores CGI's proficiency, established through two decades of collaboration with the DOJ.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.93%
Tags
none
Rhea-AI Summary

CGI announced its Annual General Meeting of Shareholders and the release of its fiscal 2022 first-quarter results on February 2, 2022. Shareholders can participate via a live webcast at 11:00 a.m. (EST). Voting eligibility extends to shareholders of record by December 7, 2021. The fiscal 2022 first-quarter results will be released before market opening on February 2, followed by a conference call at 9:00 a.m. (EST). CGI reported a revenue of $12.13 billion for fiscal 2021, emphasizing its role as a leading IT and business consulting firm with a global workforce of 80,000 professionals.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.22%
Tags
-
Rhea-AI Summary

CGI (NYSE: GIB) has secured a new task order to expand its Marine Corps Platform Integration Center (MCPIC) program across eight U.S. Marine Corps bases. The initial funding is $8.5 million, totaling $34.4 million, including options. MCPIC enhances inventory tracking of mission-critical equipment using IoT sensors and automated identification technology. This partnership, lasting four years, is an extension of CGI's 30-year collaboration with the USMC, aimed at improving asset visibility and operational efficiency.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.47%
Tags
none
-
Rhea-AI Summary

CGI (NYSE: GIB) has secured a task order from the Department of the Interior's Office of Natural Resources Revenue (ONRR) to create a modern data management environment. This initiative aims to enhance the collection and disbursement of federal and Indian royalties. The project is valued at $12.9 million over 36 months, starting with an initial funding of $3.3 million. The cloud-based solution will improve data access, quality, and transparency, and utilizes Amazon Web Services and Snowflake's technologies for efficient data management.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.28%
Tags
none
Rhea-AI Summary

CGI has filed its 2021 Annual Information Form and Management Proxy Circular with Canadian and U.S. securities regulators ahead of its virtual Annual General Meeting on February 2, 2022. The filings include CGI's 2021 Annual Report on Form 40-F, which details the company's performance, including $12.13 billion in reported revenue. Shareholders can access these documents online through CGI's investor site. Additionally, the company uses Notice and Access rules to minimize paper distribution for the meeting materials.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.48%
Tags
none
-
Rhea-AI Summary

CGI (NYSE: GIB) has secured a five-year contract valued at $44.1 million from the Centers for Medicare and Medicaid Services (CMS) to modernize the Medicare Advantage and Prescription Drug (MARx) system. The project includes transitioning legacy systems to the cloud, aiming to improve efficiency and security for the 51 million beneficiaries. This contract highlights CGI's extensive experience with MARx and follows three other notable contracts awarded by CMS within the year, totaling approximately $167.4 million.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.88%
Tags
none
-
Rhea-AI Summary

CGI (NYSE: GIB) has developed mission network management software for OneWeb, enhancing satellite fleet operations and connectivity services for governments and businesses. This system, crucial for OneWeb's low Earth orbit satellite communications, optimizes performance by managing vast amounts of data from 650 satellites and 40 ground stations. CGI's involvement since 2017 has been instrumental in ensuring high-speed, low-latency connectivity, with a projected revenue of C$12.13 billion for fiscal 2021. The software also adapts to real-time changes in satellite positioning and operational requirements.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.22%
Tags
none
Rhea-AI Summary

CGI (NYSE: GIB) has announced its subsidiary, CGI Technology and Solutions Australia Pty Limited, will acquire Unico, a Melbourne-based technology consultancy. The deal, awaiting approval from Australia's Foreign Investment Review Board, aims to strengthen CGI's presence in the Australian market, particularly in Melbourne and key sectors like communications and government. Founded in 1984, Unico brings 160 local professionals, enhancing CGI's capabilities in strategic IT consulting and systems integration.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.22%
Tags

FAQ

What is the current stock price of CGI (GIB)?

The current stock price of CGI (GIB) is $109.54 as of December 23, 2024.

What is the market cap of CGI (GIB)?

The market cap of CGI (GIB) is approximately 24.4B.

What does CGI Inc. do?

CGI Inc. is a global IT and business consulting services firm offering consulting, systems integration, application maintenance, and business process services.

Where is CGI Inc. headquartered?

CGI Inc. is headquartered in Montreal, Canada.

How many employees does CGI Inc. have?

CGI Inc. employs over 90,000 professionals across 40 countries.

What are some of CGI’s recent contracts?

Recent contracts include a $162 million partnership with the UK Cabinet Office, ERP modernization for Los Angeles County, and management of core platforms for MOSL in England.

What is CGI’s annual revenue?

In fiscal 2023, CGI reported a revenue of CA$14.30 billion.

Which sector contributes the most to CGI's revenue?

The government sector contributes more than one-third of CGI’s annual revenue.

Who is the new CEO of CGI Inc.?

François Boulanger has been appointed as the new CEO of CGI Inc., effective October 1, 2024.

What is CGI’s strategy for future growth?

CGI focuses on delivering strategic IT and business consulting, leveraging a local relationship model supported by a global delivery network, and enhancing shareholder value through profitability and strategic share repurchases.

On which stock exchanges are CGI shares listed?

CGI shares are listed on the Toronto Stock Exchange (TSX: GIB.A) and the New York Stock Exchange (NYSE: GIB).

What is CGI’s approach to digital transformation?

CGI helps clients digitally transform their operations by offering end-to-end services, including strategic IT consulting, systems integration, managed IT, and business process services.

CGI Inc.

NYSE:GIB

GIB Rankings

GIB Stock Data

24.42B
202.14M
0.79%
70.01%
0.57%
Information Technology Services
Technology
Link
United States of America
Montreal