CGI Inc Stock Price, News & Analysis

CGI (GIB) will host an Investor and Market Analyst Day on November 22, 2021, starting at 8:30 a.m. ET, concluding at 1:00 p.m. ET. The event will feature presentations from the executive leadership team, including Co-Chair Julie Godin and CEO George Schindler. Key topics include industry coverage, talent strategy, digitization case studies, and capital allocation strategies. A live webcast will be available on CGI's investor page. CGI reported $12.13 billion in revenue for fiscal 2021.

CGI reported robust Q4 and FY2021 results with Q4 revenue of $3.01 billion (+2.8% YoY) and FY2021 revenue of $12.13 billion (-0.3% YoY). Adjusted EBIT for Q4 rose to $493.3 million (+7.8% YoY), achieving a margin of 16.4%. Diluted EPS jumped 44.8% YoY to $1.39. The company maintained a strong backlog of $23.06 billion (1.9x annual revenue) and reported cash from operations of $526.9 million (+7.1% YoY).

CGI has been awarded an $84 million, four-year contract by the City of San Diego for IT support services, with options extending to ten years. This agreement enhances CGI's long-standing partnership with the city, beginning in 2012, and involves maintaining nearly 300 citywide applications. CGI will also introduce new digital services, including an online permitting system and a paperless vaccine management solution. The support aims to empower the city’s 11,000 employees to deliver high-quality services to residents.

CGI will announce its fourth quarter and fiscal year 2021 results, covering the period ending September 30, 2021, on November 10, 2021, prior to market opening. The conference call to discuss these results will be hosted by CEO George D. Schindler and CFO François Boulanger at 9:00 a.m. (EST). Investors can access the live webcast through the IR section of CGI's website. In fiscal 2020, CGI reported revenue of C$12.16 billion, showcasing its position as a leading independent IT and business consulting services firm.

CGI has launched a new global innovation center in Toulouse, France, focused on Industry 4.0 technologies. This center enhances CGI's network of innovation hubs across France, aligning with the country's high-tech industries such as aeronautics and pharmaceuticals. The center aims to help manufacturers modernize their systems and digitize value chains using IoT, augmented reality, and automation. Key objectives include co-developing future factories, innovating manufacturing solutions, and accelerating digital transformation. Industry leaders recognize the center’s potential to tackle significant transformation challenges.

CGI (NYSE: GIB) has announced the acquisition of Cognicase Management Consulting (CMC), enhancing its presence in Spain and bolstering client services. CMC, a consulting firm with over 25 years in technology and management consulting, serves major clients in Spain and Latin America, employing around 1,500 professionals. This acquisition aims to strengthen CGI's service portfolio and accelerate digital transformation for clients. Approval from Spanish authorities has been secured, with a closure expected by the end of the month.

CGI (NYSE: GIB) announced a partnership with Bank of Montreal and National Bank of Canada to pilot intelligent process automation for document management within the CGI Trade360 platform. The pilot aims to enhance digital transformation, improve trade finance operations, and boost compliance and relationship management. Collaborating with Conpend, the project demonstrated improved efficiency in trade finance processes, providing metrics for future commercial applications. CGI aims to empower banks to digitize processes and reduce costs while focusing on high-value tasks.

On October 5, 2021, CGI (NYSE: GIB) announced it was awarded a $100 million task order by the Defense Intelligence Agency (DIA) for a Data Transformation of Foundational Military Intelligence (DTMI). The project aims to enhance the agency's data processing capabilities, facilitating better decision-making for U.S. warfighters and national security policymakers. This contract includes a one-year base period and four one-year options. CGI will create a transition database to support the agency’s shift to the Machine-assisted Rapid-repository System (MARS).

CGI Inc. has successfully acquired Array Holding Company, enhancing its digital service offerings for the U.S. Department of Defense and government entities. This acquisition, finalized on October 1, 2021, aligns with CGI's strategy to enter key public sector markets, particularly the U.S. Air Force and Space Command. ARRAY contributes approximately 275 professionals, bolstering CGI's capabilities in digital modernization, DevOps, and cybersecurity. The merger positions CGI as a stronger player in meeting the increasing demands of U.S. public sector clients.