CGI Inc Stock Price, News & Analysis

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.

CGI reported strong Q3 F2022 results with revenue of $3.26 billion, reflecting a 7.9% increase year-over-year, and 11.5% growth in constant currency. Adjusted EBIT rose 9.0% to $519.9 million, with a margin of 16.0%. Net earnings were $364.3 million, stable year-over-year, leading to a diluted EPS of $1.51, up 11.0%. Bookings totaled $3.41 billion, yielding a book-to-bill ratio of 104.7%. The backlog stands at $23.24 billion, amounting to 1.8x annual revenue.

CGI will announce its third quarter fiscal year 2022 results on July 27, 2022, prior to market opening. The financials will cover the period ending June 30, 2022. A conference call is scheduled for 9:00 a.m. EDT, featuring insights from George D. Schindler (President and CEO) and François Boulanger (CFO). Interested parties can access the call via a dedicated conference line or through a live webcast available on their investor relations page.

CGI is set to release its third quarter fiscal year 2022 results on July 27, 2022, before the market opens. The conference call, led by CEO George D. Schindler and CFO François Boulanger, will take place at 9:00 a.m. EDT to discuss the results. The company, known for its extensive IT and consulting services, reported $12.13 billion in revenue for fiscal year 2021. Investors can access the live webcast through CGI's IR section.

CGI (NYSE: GIB) has secured a 10-year extension of its partnership with the State of Arizona to upgrade the Arizona Financial Information System (AFIS) using CGI Advantage®—a government-specific enterprise resource planning solution. This partnership aims to modernize Arizona's financial system through a secure, cloud-based, mobile-first platform, enhancing efficiency and decision-making capabilities. With over 31 million transactions processed annually, AFIS is critical for state agencies. The collaboration underscores CGI's commitment to delivering innovative solutions to maximize value and reduce operating costs.

On July 18, 2022, CGI Inc. (NYSE: GIB; TSX: GIB.A) announced it has successfully concluded a simplified tender offer, acquiring 2,428,749 Umanis shares, bringing its total ownership to 91.54% of the company's capital. This acquisition allows CGI France to initiate a squeeze-out procedure at €17.15 per share. Umanis shares have been suspended since July 14, 2022. CGI aims to integrate Umanis to enhance client services and leverage digital transformation capabilities post-acquisition.

CGI (NYSE: GIB) announced that Peoples Trust Company (PTC), a major player in Canadian financial services, has selected CGI All Payments to enhance its payment processing capabilities. This partnership marks a significant milestone as PTC becomes the first new direct participant in Canada's Automated Clearing Settlement System (ACSS) in nearly 40 years. CGI All Payments will modernize PTC's payment systems, supporting its strategic growth plan and expanding its offerings in the competitive Canadian payments landscape.

CGI has received UiPath Service Network certification, affirming its capabilities in robotic process automation (RPA). This certification positions CGI as a key service delivery partner for UiPath solutions, enabling organizations to enhance digital operating models and increase efficiencies. A survey of 1,700 executives highlights RPA as a top three innovation investment over the next three years. CGI's revenues were reported at C$12.13 billion for Fiscal 2021, with a strong focus on delivering automation consulting services globally.