CGI Inc Stock Price, News & Analysis

CGI is set to release its third quarter fiscal year 2021 results on July 28, 2021, before market opening. The conference call will commence at 9:00 a.m. (EDT), featuring insights from CEO George D. Schindler and CFO François Boulanger. This quarter ends on June 30, 2021. In the previous fiscal year, CGI reported revenues of C$12.16 billion. For further details, a live webcast will be available on their IR section.

CGI has secured a $150 million IT Services Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the Library of Congress, effective over five years. The contract aims to enhance user experience and improve decision-making through advanced tools and technology. CGI will leverage its extensive experience in federal projects to provide end-to-end IT lifecycle services, significantly boosting collaboration and transparency within the Library. This partnership builds on over 20 years of collaborative efforts between CGI and the Library, focusing on digital transformation and cloud-based solutions.

CGI (TSX: GIB.A, NYSE: GIB) has signed a full managed IT services contract with Nexelis, a leading life sciences firm. This partnership aims to enhance Nexelis's IT infrastructure and support its rapid growth through a comprehensive three-year IT strategy. Key priorities include upgrading Infrastructure Managed Services (IMS) and implementing a Laboratory Information Management System (LIMS). CGI's expertise in IT solutions will enable Nexelis to focus on scientific advancements while enhancing operational efficiency and competitive edge in the healthcare sector.

CGI (NYSE: GIB) (TSX: GIB.A) announced the appointment of Frank Witter to its Board of Directors. Witter, a former executive at Volkswagen, served as CEO of Volkswagen Financial Services AG from 2008 to 2015 and later as CFO for the Volkswagen Group until his recent retirement. His extensive experience in finance and the automotive sector is expected to provide valuable insights as CGI aims to expand globally. Witter also holds a recent supervisory position at Deutsche Bank AG and has a business degree from the University of Hanover in Germany.

On June 1, 2021, CGI (NYSE: GIB) announced a five-year contract extension with Shell, valued at over CAD$200 million. This deal aims to enhance Shell's Fleet Solutions business by modernizing its mobility management and fuel payments platform, which processes over 250 million transactions annually. CGI will also assist Shell in developing innovative services and adapting its IT strategy to the evolving energy market. This partnership reflects CGI's long-term collaboration with Shell, showcasing confidence in CGI's consultancy and service delivery.

CGI (NYSE: GIB) has been awarded a 10-year contract by the State of Michigan to enhance its SIGMA ERP platform, leveraging CGI Advantage ERP cloud technology. This transformation aims to improve user experience, data-driven decision-making, and reduce total ownership costs. Currently, SIGMA processes over 600,000 payments monthly, totaling $5.2 billion, and supports nearly 50,000 public employees and 200,000 vendors. The agreement emphasizes CGI's expertise in public sector innovation and the ongoing digital transformation of Michigan's financial and procurement systems.

On May 17, 2021, CGI (NYSE: GIB) announced a $60 million ceiling contract with the Department of Interior's Bureau of Indian Affairs (BIA) for enhancements to its Trust Asset Accounting Management System (TAAMS). This five-year contract aims to improve BIA's fiduciary duties to Native Americans, facilitating better information sharing and extended system functionalities. TAAMS manages natural resources across 112 million acres and distributes over $2 billion annually to tribes. This collaboration underscores CGI's long-standing commitment to supporting indigenous communities.

CGI (NYSE: GIB) has been awarded the Solutions for the Information Technology Enterprise (SITE) III IDIQ contract by the Department of Defense's Defense Intelligence Agency (DIA). This contract, lasting 10 years with a ceiling of $12.6 billion, aims to enhance IT mission support across various security domains. The initiative focuses on improving integration, information sharing, and safeguarding through advanced technology management and services. CGI's President, Stephanie Mango, emphasized the company's capability in providing innovative IT solutions vital for national security.