CGI Inc - GIB STOCK NEWS

CGI (NYSE: GIB, TSX: GIB.A) announced that Vantage Bank Texas has successfully implemented CGI All Payments as part of its digital transformation strategy. This solution replaces legacy FedWire and ACH systems, facilitating real-time payments and enhancing operational efficiency. The project was executed in just four months, enabling Vantage Bank to better meet customer expectations and future-proof its payment systems. CGI All Payments aims to reduce transaction costs and improve service availability while ensuring security through Microsoft Azure.

CGI (NYSE: GIB) has been awarded a prime contractor position by the U.S. Department of State for the Global Support Strategy for Overseas Consular Support Services 2.0 (GSS 2.0) contract, valued at a ceiling of $3.3 billion over a 10-year period. This contract includes a base year and nine option years, focusing on enhancing visa application processes at U.S. embassies and consulates worldwide. CGI will utilize its Atlas360 solution to improve customer service and operational efficiency within the Bureau of Consular Affairs.

CGI (NYSE: GIB; TSX: GIB.A) has acquired the Professional Services Division of Harris, Mackessy & Brennan, Inc., enhancing its technology consulting services for commercial and government clients. The deal, finalized on December 31, 2020, adds 165 skilled consultants and a deep client portfolio in Central Ohio, particularly in Columbus. This strategic move aligns with CGI's build-and-buy strategy aimed at strengthening its position in the U.S. market.

CGI has filed its Management Proxy Circular for the Annual General Meeting of Shareholders scheduled for January 27, 2021. In conjunction with this, CGI submitted its 2020 Annual Information Form and Fiscal 2020 Results to securities regulators in Canada and the U.S. The electronic versions of these documents are available on CGI's investor website. The company employs approximately 76,000 professionals globally and reported a fiscal 2020 revenue of C$12.16 billion.

The UK Ministry of Defence (MOD) has selected CGI (NYSE: GIB) as a key supplier for the CORTISONE programme, aiming to migrate healthcare services to a secure cloud environment. This initiative will enhance the medical capabilities of the UK Armed Forces by integrating with the NHS and allowing access to various commercial off-the-shelf medical applications. CGI has a longstanding partnership with the MOD, delivering secure IT systems for over 40 years. The company reported fiscal 2020 revenue of C$12.16 billion.

CGI reported Q4-F2020 revenue of $2.93 billion, a 1.1% decline year-over-year. Adjusted EBIT stood at $457.6 million, unchanged from last year, with a margin of 15.6%. Net earnings were $251.9 million (down 22.3%), leading to a diluted EPS of $0.96. Full-year revenue reached $12.16 billion, improving slightly by 0.4%. Bookings were notably strong at $3.47 billion in Q4, a book-to-bill ratio of 118.8%, and the backlog remains robust at $22.67 billion.

CGI (GIB) is set to announce its fourth quarter and fiscal year 2020 results on November 11, 2020, before market opening. The conference call will take place at 9:00 a.m. EST, featuring insights from CEO George D. Schindler and CFO François Boulanger. Investors can access a live webcast and an archived replay on CGI's Investor Relations website. The firm, a leading IT consulting services provider, reported revenue of C$12.1 billion for fiscal 2019 and employs over 77,500 professionals globally.

CGI (TSX: GIB.A) (NYSE: GIB) will release its fourth quarter and fiscal year 2020 results on November 11, 2020, before market opening. A conference call, led by President and CEO George D. Schindler and CFO François Boulanger, is scheduled for 9:00 a.m. (EST) to discuss the results. CGI, a leader in IT and business consulting services, reported C$12.1 billion in revenue for fiscal 2019. Investors can access the call via a live webcast on the company’s IR page, with a replay available later.

CGI has been selected by VIA Rail Canada to implement a new reservation system aimed at enhancing customer experience. This partnership is a pivotal step towards creating an integrated travel experience for passengers throughout their journey. CGI's advanced reservation solution and extensive expertise in digital and cloud technologies played a crucial role in this selection. With over 3,250 global transportation and logistics experts, CGI aims to leverage local talent and a global network to drive business growth for VIA Rail Canada.