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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

News

CGI appointed as Strategic Delivery Partner to UK Cabinet Office for digital transformation

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CGI (TSX: GIB.A) (NYSE: GIB) secures a $162 million contract with the UK Government's Cabinet Office as a Strategic Delivery Partner for digital transformation. The five-year deal aims to provide digital, data, and technology services, emphasizing innovation and value creation.
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CGI selected by Centers for Medicare & Medicaid Services to improve Medicare access for more than 65 million beneficiaries nationwide

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CGI Federal Inc. has been awarded a contract by CMS to modernize the Health Plan Management System, benefiting millions of Medicare beneficiaries. The contract is valued at US$72M and includes advanced technologies to enhance plan enrollment and compliance processes.
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CGI U.S. earns perfect score for the third year in a row in Human Rights Campaign Foundation's Corporate Equality Index

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CGI's U.S. operations receive a perfect score for the third consecutive year in the Human Rights Campaign Foundation's Corporate Equality Index, showcasing a commitment to LGBTQ+ workplace inclusion and diversity.
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Massachusetts selects CGI for transformation of Commonwealth';s enterprise financial system

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CGI (TSX: GIB.A) (NYSE: GIB) has been awarded a contract by the Commonwealth of Massachusetts to deliver a financial management solution through CGI Advantage®, a cloud-based platform. The contract aims to increase data transparency, compliance, and efficiency for the Commonwealth, with key officials expressing optimism for the transformative impact of the new technology.
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CGI announces intent to repurchase 1.67 million of its shares

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CGI (TSX: GIB.A) (NYSE: GIB) announces a private agreement with Founder and Executive Chairman for the repurchase of 1,674,930 Class A shares at a discount of 3%. The total consideration is $250 million, funded from cash on hand. The Special Committee and Board of Directors unanimously approved the transaction, benefiting shareholders. The transaction is for estate planning purposes, reducing Mr. Godin's voting rights slightly.
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CGI selected by State of Utah for modernization of human capital management solution across 30 agencies

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CGI (GIB) chosen by the State of Utah for modernization of human capital management solution, benefiting from CGI Advantage to enhance payroll accuracy and efficiency across 30 state agencies employing 23,000 employees. The partnership aims to align with Governor Spencer J. Cox's 'One Utah Roadmap' for improved customer experience and performance management.
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CGI and LocalTapiola extend long-term partnership to further advance enterprise-wide digital transformation program

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CGI and LocalTapiola Extend Strategic Partnership for Five More Years, Valued at CAD 284 Million
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CGI';s 2023 ESG Report highlights progress through responsible innovation

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CGI (NYSE: GIB) publishes its 2023 ESG Report, showcasing progress in reducing CO2e emissions, achieving sustainability goals, and aligning with the Science Based Targets initiative. The company received a Platinum rating from EcoVadis and was recognized by CDP for its sustainability performance.
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CGI reports director election results

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CGI held its Annual General Meeting of Shareholders in Montréal, Quebec, Canada, on January 31, 2024. All 15 directors proposed for election were elected by shareholders on a vote by electronic ballot. The votes for each director ranged from 96.73% to 99.82% with varying percentages of votes withheld.
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CGI reports first quarter Fiscal 2024 results

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CGI reported a 4.4% increase in revenue in Q1-F2024, reaching $3.60 billion. The company's earnings before income taxes, adjusted EBIT, net earnings, and diluted EPS also showed positive growth year-over-year. The book-to-bill ratio stood at 116.2%, and the backlog was $26.57 billion or 1.8x annual revenue. CGI's long-term debt and lease liabilities decreased, while the return on invested capital increased to 15.9%. The company's Normal Course Issuer Bid was renewed, allowing for the purchase for cancellation of up to 20,457,737 Class A subordinate voting shares over the next 12 months.
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FAQ

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

The current stock price of CGI (GIB) is $109.44 as of December 20, 2024.

What is the market cap of CGI (GIB)?

The market cap of CGI (GIB) is approximately 24.5B.

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.

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CGI Inc.

NYSE:GIB

GIB Rankings

#460 Ranked by Market Cap
#1997 Ranked by Dividends

GIB Stock Data

24.53B
202.14M
0.79%
70.01%
0.57%
Information Technology Services
Technology
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United States of America
Montreal