CGI Inc Stock Price, News & Analysis

CGI Federal announced that its Momentum Java Cryptographic Module has received Federal Information Processing Standards (FIPS) certification. This certification marks an essential achievement for safeguarding sensitive data in federal systems. The approval came after rigorous testing by an independent lab, ensuring the ERP solution addresses modern security threats. The Momentum product suite employs advanced cryptographic algorithms and supports CISA Zero Trust Architecture, further enhancing security for federal clients. The certification process, facilitated by SafeLogic, runs through August 2024.

CGI reported strong financial performance for Q4 and fiscal year 2022, with Q4 revenue at $3.25 billion, marking an 8% year-over-year increase, and 13.9% growth in constant currency. Net earnings rose to $362.4 million, translating to a 11.2% margin. For fiscal 2022, total revenue was $12.87 billion, up 6.1% year-over-year. Diluted EPS increased to $6.04, reflecting an 11.6% rise. The backlog stood at $24.06 billion. Despite the strong results, cash from operating activities decreased by $38.1 million year-over-year.

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB), has secured a $17.4 million contract to bolster the Nuclear Regulatory Commission's (NRC) cybersecurity measures. This agreement, part of the Global Infrastructure and Development Acquisition (GLINDA), allows CGI Federal to implement advanced processes and technologies to enhance the NRC's security against emerging cyber threats. The contract spans 16 months with three additional 12-month options, focusing on improved cybersecurity and the adoption of Zero Trust Architecture.

CGI is set to release its fourth quarter and fiscal year 2022 results on November 9, 2022, prior to market opening. The conference call for discussing the results will be hosted by CEO George D. Schindler and CFO Steve Perron at 9:00 a.m. (EST). The company operates globally and has reported revenue of $12.13 billion for fiscal 2021. Investors can access the conference call via phone or through a live webcast on the CGI website.

CGI (NYSE: GIB) has been recognized as a Leader in the IDC MarketScape report for Industrial IoT Service Providers in Utilities. The assessment applauds CGI for its extensive experience with major utilities in Europe and North America, highlighting its focus on innovative offerings like CGI OpenGrid360. Moreover, CGI is acknowledged as a Major Player for its efforts in energy transition and sustainability solutions.

CGI (NYSE: GIB) and Aktia have formed a strategic partnership to enhance Aktia's banking IT services, valued at approximately 50 MEUR (75 MCAD). CGI will manage the development and maintenance of 150 critical applications, aiming to improve customer experience and support product development. The collaboration will bolster Aktia's operational efficiency and regulatory compliance. This partnership marks a significant move in the competitive Nordic banking landscape, with CGI leveraging its global expertise to support Aktia's digital transformation.

CGI and Aktia have announced a strategic partnership to enhance banking IT services, valued at approximately 50 MEUR (75 MCAD). This collaboration will focus on the development and maintenance of 150 key applications, aiming to improve customer experience and competitive edge in the finance sector. The partnership, starting as a joint venture before 2023, emphasizes operational efficiencies and innovative banking services. CGI's extensive expertise in digitization will support Aktia's modernization efforts and regulatory compliance, while over 50 Aktia experts will join CGI's team.

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.