CGI Inc Stock Price, News & Analysis

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has been awarded a position on the Foundation Cloud Hosting Services II (FCHS2) contract by the U.S. Department of the Interior. This 10-year, US$2 billion Indefinite-Delivery, Indefinite-Quantity (IDIQ) contract allows CGI to offer a comprehensive range of cloud services and solutions to support critical modernization needs.

CGI leverages its Software-as-a-Service (SaaS) offerings, cloud IT strategies, and cybersecurity consulting to provide tailored digital solutions for federal clients. The company was recently named a Leader in the IDC MarketScape: U.S. Federal Government Cloud Professional Services 2024 Vendor Assessment. CGI has been the top provider by volume of cloud services to the federal government since its first Foundation Cloud Hosting Services IDIQ award in 2014.

CGI has been awarded a contract by Anne Arundel County Public Schools (AACPS) in Maryland to upgrade their enterprise resource planning (ERP) system with the latest version of CGI Advantage®. This upgrade will transition the school system's on-premise ERP to a cloud-based solution, offering efficient financial operations, automated budget processes, streamlined human resource management, and simplified vendor engagement.

The implementation of CGI Advantage will support AACPS in achieving goals outlined in their Blueprint for Maryland's Future, including strengthening governance and accountability through data-driven tools and reducing technical debt. For AACPS, which employs over 6,000 staff, the new system will provide flexible, secure, SaaS-enabled technology with a mobile-first design and intuitive user experience.

CGI, a leading business and IT consulting firm, has signed the European Union's Artificial Intelligence (AI) Act Pledge, reinforcing its global commitment to responsible and ethical AI practices. This signature is part of CGI's engagement with the European Commission's AI Pact. Jean-Michel Baticle, President and COO of CGI, emphasized the alignment between the AI Act Pledge objectives and CGI's own responsible use framework.

CGI's approach to responsible AI includes:

• A robust risk matrix
• Clear guidelines and best practices
• Ethical principles backed by scientific research

The company supports clients in developing responsible AI plans, focusing on governance, risk assessment, privacy, security, and optimal AI model selection. CGI offers AI-based consulting, services, and solutions to help clients leverage AI for their business objectives.

CGI's annual global research, based on interviews with over 1,800 business and technology executives, reveals three key trends in the IT and business consulting sector:

• Rebalancing cost savings with revenue growth: Clients are focusing on innovation, new products/services, and improved customer experience while maintaining cost control.
• Closer business and IT alignment: Alignment between business and IT operations is at its highest level, driven by efficiency focus and digital technologies.
• Increasing advantages for digital leaders: Those with successful digital strategies are widening the gap in achieving desired outcomes.

The research also highlights a significant increase in AI implementation, with 26% of executives implementing traditional AI and 79% exploring generative AI. AI tops innovation investment priorities for the next three years, reflecting its potential to transform business models and drive efficiency.

CGI has been selected by the Northern Ireland Courts and Tribunals Service (NICTS) as the delivery partner for its Themis Program, a flagship business transformation initiative. The 20-year contract, valued at £85 million, aims to modernize the justice system across Northern Ireland. The program will redesign court processes, transforming services across Tribunals, Civil, Family, and Criminal business areas.

The Themis Program seeks to create a digital-first, paper-light environment to enhance transparency, speed up case delivery, and increase accessibility through virtual services. CGI will work with the existing Themis team to implement a five-year roadmap for revolutionizing service delivery. The project is expected to drive significant efficiencies and improve service outcomes.

CGI's involvement in this transformation aligns with its broader commitment to modernizing the UK justice system. The company's Digital Services Centre of Excellence in Belfast, established in February 2023, will support the program with the addition of at least 50 new roles.

CGI, a leading IT and business consulting firm, has been selected by Harley-Davidson Financial Services to modernize their loan origination system. The new system, based on CGI Credit Studio, will streamline the financing process for Harley-Davidson motorcycle buyers and enhance flexibility for dealers. Key features include:

- AI-enabled financing journey
- Simplified loan application process
- Improved collaboration between dealers and customers
- Enhanced insights-driven customer experience
- Ability to offer Harley-Davidson merchandise and riding experiences at point of purchase

The system aims to shorten the buy window, boost satisfaction, and improve conversion rates. It will adapt dynamically to customer preferences and market conditions, expanding decision data to maximize value while reducing back-end losses. CGI Credit Studio is designed to lower total solution costs and deliver a streamlined, cost-effective approach.

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has completed the acquisition of Aeyon, a leader in digital transformation and AI technologies for the U.S. Federal Government. This acquisition expands CGI's capabilities in data management, analytics, and intelligent automation, while strengthening relationships with key national security clients like the Office of the Secretary of Defense, U.S. military branches, FAA, and NASA.

The merger aims to enhance CGI's service offerings and reinforce its commitment to advancing client missions. Aeyon's expertise in rapid response capabilities and industry insights is expected to accelerate critical mission outcomes for federal agencies. The acquisition aligns with CGI's culture and values, promising greater opportunities for employees and a broader range of solutions for clients.

CGI (NYSE: GIB) has been named one of America's Best Employers for Women by Forbes in 2024. This recognition is based on a survey of 150,000 women at companies with at least 1,000 employees. CGI's commitment to supporting women in technology is evident through various initiatives:

1. Employee resource groups for networking, mentoring, and professional development
2. Events to inspire female students in STEM careers
3. Initiatives promoting respect, empowerment, and inclusion

Stephanie Mango, President of CGI Federal, emphasized the company's dedication to increasing women's representation at all levels. Jenny Hilliard, VP of Human Resources, highlighted CGI's focus on creating a diverse, equitable, and inclusive environment that encourages authenticity and career growth for women.

CGI (TSX: GIB.A) (NYSE: GIB) has been named a Leader in Everest Group's Guidewire Services PEAK Matrix® Assessment 2024 for property and casualty (P&C) insurance. The company was recognized for expanding Guidewire Services into growing markets, building local and offshore delivery capabilities, and adopting geo-specific strategies. CGI offers a comprehensive suite of services for P&C clients, including advisory, consulting, full implementations, and ongoing support for the Guidewire platform.

The assessment highlighted CGI's success in delivering on-time Guidewire implementations, enhanced localized delivery capabilities, and investments in point solutions and toolkits for test automation and accelerating product implementations. Clients appreciated CGI's domain knowledge and understanding of legacy systems, which facilitated smooth transitions to new systems.