CGI Inc Stock Price, News & Analysis

CGI (NYSE: GIB) has announced its acquisition of Sense Corp, a professional services firm specializing in digital systems integration for government and commercial clients. This move enhances CGI's presence in Texas and St. Louis, adding 300 skilled consultants to its workforce. The transaction aligns with CGI's growth strategy, aiming to expand its consulting services and digital capabilities. The deal is expected to close in early May 2021, marking a significant step in CGI's efforts to meet the increasing demand for IT and business consulting solutions.

CGI reported a strong Q2-F2021 with $3.08 billion in revenue, an 8.4% increase in net earnings to $341.2 million, and diluted EPS of $1.34, which rose 13.6% year-over-year. Bookings jumped 40% to $3.89 billion, resulting in a book-to-bill ratio of 126%. Adjusted EBIT reached $486.3 million, marking a margin improvement to 15.8%. Operating cash flow rose 44.4% to $572.6 million. CGI maintains a strategic focus on growth, backed by a $2.85 billion liquidity position.

CGI (NYSE: GIB) will announce its second quarter fiscal year 2021 results on April 28, 2021, prior to market opening. The press release highlights that the results for the quarter ending March 31, 2021, will be discussed in a conference call at 9:00 a.m. EDT. Key executives, including CEO George D. Schindler and CFO François Boulanger, will lead the call. In fiscal 2020, CGI reported revenues of C$12.16 billion, showcasing its position as a leading IT and business consulting firm.

CGI's IT Delivery Center in Troy, Alabama celebrates its 10-year anniversary, emphasizing a decade of collaboration with local partners, including the state and educational institutions. Employing over 285 local professionals, CGI has become a significant community contributor and job provider. The center focuses on corporate social responsibility, contributing financially to local organizations and fostering STEM education among students. The Troy center is one of eight in the U.S., reflecting CGI's commitment to growth in the region and its strategic role in the company's global operations.

On April 20, 2021, CGI (NYSE: GIB) was honored with the Leader in Trade Award for Resiliency in the Fintech category by Global Trade Review (GTR). This recognition highlights CGI's excellence in trade and supply chain solutions, particularly during the challenges posed by the pandemic. CGI's Trade360 platform enabled banks to continue operations remotely, showcasing its adaptability. With a reported revenue of C$12.16 billion for fiscal 2020, CGI remains a significant player in the global IT consulting sector.

CGI (NYSE: GIB) has been chosen by the Federal Reserve Bank to join the FedNow Service pilot program, which aims to develop a real-time payments infrastructure. CGI will assist Vantage Bank Texas in delivering real-time payment solutions using CGI All Payments. This participation will allow CGI and its partners to shape the service's features, ensuring a smooth transition for banks adopting the technology. The CGI All Payments platform facilitates quick deployment for banks and enhances payment processing efficiency.

On March 23, 2021, CGI (NYSE: GIB) announced the creation of 600 jobs at its U.S. Delivery Center in Lafayette, Louisiana, surpassing its original commitment made during the center's 2014 opening. The company aims to reach a total of 800 jobs by 2023. CGI's cumulative payroll in Lafayette exceeds commitments by $40 million, projecting a total of over $480 million over the next decade. The center has engaged local graduates and professionals, enhancing the region’s economy. CGI’s community initiatives and educational partnerships further contribute to workforce development in Louisiana.

CGI (NYSE: GIB) has appointed Stephanie Mango as President of CGI Federal, effective immediately. Mango, who has over 25 years of experience in the organization, will lead a team of 7,000 professionals delivering critical solutions across various governmental sectors. Outgoing President Tim Hurlebaus praised her leadership, anticipating continued growth under her guidance. Mango is noted for her collaborative approach and commitment to diversity and inclusion, recognized as a leader in the government market. CGI reported C$12.16 billion in revenue for Fiscal 2020.