CGI Inc Stock Price, News & Analysis

CGI Federal has successfully upgraded nearly 20 federal clients to the latest version of its ERP solution, Momentum®, enhancing compliance with the U.S. Treasury's G-Invoicing platform. This upgrade streamlines interagency agreements and automates G-Invoicing processes, allowing agencies to efficiently handle orders, performance tracking, and fund transfers. Senior Vice-President John B. Owens II highlighted the importance of these enhancements in meeting the October 1 deadline for G-Invoicing implementation. CGI Federal aims to continually adapt its solutions in response to future Treasury requirements.

CGI has achieved a platinum rating from EcoVadis, placing it in the top 1% of companies in the computer programming and consultancy sector. This rating highlights CGI's effective sustainability initiatives across vital categories, including environment and labor rights. Previously rated gold for four consecutive years, CGI aims for net zero emissions by 2030 and is committed to diversity and community impact. The company reported C$12.13 billion in revenue for fiscal 2021 and continues to enhance its sustainability performance globally.

CGI and CI Financial have initiated a long-term partnership to transform CI's investment fund transfer agency operations. CGI will manage and modernize CI's proprietary transfer agency platform, shifting it to a software-as-a-service (SaaS) model. The collaboration aims to enhance service capabilities and efficiency, benefiting clients and employees alike. CI will maintain its role as the transfer agent while leveraging CGI's technological expertise and global resources to accelerate digital transformation. This partnership marks a significant milestone for both companies in the financial services sector.

CI Financial Corp and CGI have forged a long-term strategic partnership to enhance CI's investment fund transfer agency operations through a modernized software-as-a-service platform. CGI will manage CI’s proprietary transfer agency platform, improving operational efficiency and client service. This collaboration aligns with CI's ongoing digital transformation strategy initiated in 2019, which has already garnered industry recognition. CI will retain its transfer agency role while leveraging CGI’s expertise to support growth and innovation.

CGI (NYSE: GIB) has been selected by Tulare County, California, for upgrading its financial management and accounting system using CGI Advantage. This upgrade aims to streamline processes, eliminate data silos, and enhance efficiency. The transition to the cloud will free up IT resources and provide a unified user experience, including a self-service portal for vendors. CGI Advantage, based on 45 years of public sector expertise, ensures reduced risk and lower total cost of ownership. This partnership marks a continuation of CGI's 35-year collaboration with the County.

CGI (TSX: GIB.A, NYSE: GIB) announced its plan to repurchase 938,914 Class A subordinate voting shares from CDPQ at $106.51 each, reflecting a discount from the July 29 closing price. This share buyback is part of CDPQ's portfolio rebalancing, although it will still retain 22.5 million shares, approximately 9.5% of CGI's total. CGI's Co-Chair stated this move aligns with their value creation strategy and is expected to enhance shareholder value, supported by $2.3 billion in cash resources. The transaction, approved by the AMF, will be settled on August 2, 2022.

CGI Federal, a subsidiary of CGI (NYSE: GIB), has achieved ISO/IEC 17025 accreditation for its Digital Forensics Lab, awarded by the American National Standards Institute's National Accreditation Board. This milestone allows CGI Federal to enhance its offerings in forensic investigations for federal clients, addressing challenges like fraud and IP theft. The lab, based in Huntsville, Alabama, is among the few private labs holding this accreditation and provides a range of services including data collection and analysis. CGI reported C$12.13 billion in revenue for fiscal 2021.

CGI (NYSE: GIB) has launched CGI Sense360, a cloud-based analytics platform that enhances situational awareness for emergency responders during disasters. By integrating data from satellites, drones, and social media, the platform provides a comprehensive view of emergency situations, important for safe and efficient rescue operations. Developed in partnership with the UN-certified I.S.A.R. and with support from the European Space Agency, CGI Sense360 caters to various crisis scenarios including natural disasters and terrorist attacks, showing significant market potential.

CGI (TSX: GIB.A) has entered a strategic agreement with IGM Financial Inc. to modernize its mutual fund transfer agency platforms in Canada. This collaboration aims to integrate two leading record-keeping solutions into a unified SaaS platform as part of IGM's five-year digital transformation initiated in 2018. CGI will oversee technology modernization and support IGM's ongoing operations, enhancing client experience by leveraging its expertise. The partnership underscores CGI's commitment to delivering operational efficiencies and adapting to the evolving needs of the financial services sector.