Welcome to our dedicated page for CGI news (Ticker: GIB), a resource for investors and traders seeking the latest updates and insights on CGI stock.
News and updates on CGI Inc. (GIB) highlight its activities as one of the largest independent IT and business consulting services firms in the world. Company announcements cover technology initiatives, government contracts, acquisitions, platform launches and regulatory disclosures tied to its listings on the NYSE (GIB) and TSX (GIB.A).
Recent news emphasizes CGI's work with public sector clients. CGI Federal has announced the availability of the CGI Fraud, Waste and Abuse Prevention Platform through the U.S. Department of the Treasury's Financial Management Quality Service Management Office marketplace, enabling federal agencies to use real-time risk detection, advanced analytics and AI to identify potentially fraudulent payments. Other releases describe government-focused projects such as cooperative contracts with the Texas Department of Information Resources to provide CGI Advantage ERP and CGI Transcend case management solutions, as well as state-level modernization initiatives in Nevada and San Diego County using CGI Advantage.
CGI's news flow also includes international defense and security work, such as the HERMES project for NATO, which delivers a secure mobile communications solution in partnership with secunet Security Networks. Corporate development stories feature acquisitions like Comarch Polska SA in Poland and Online Business Systems in Canada and the United States, which expand CGI's footprint and capabilities in public administration solutions, digital transformation, AI and cybersecurity.
Investors and observers can also find updates on CGI's recognition in industry assessments, such as being named a Major Contender for Global Capability Center setup and transformation capabilities in India, and on regulatory milestones like the filing of annual disclosure documents and Form 6-K reports. This news page aggregates these developments to provide a centralized view of CGI's contracts, partnerships, technology platforms and regulatory communications.
CGI announced the renewal of its Normal Course Issuer Bid (NCIB), pending Toronto Stock Exchange approval. The NCIB allows the company to repurchase up to 19,184,831 Class A Shares, approximately 10% of its public float, to enhance shareholder value. The share repurchases may begin on February 6, 2021, and end on February 5, 2022, or once the maximum share limit is met. CGI has already repurchased 16,364,064 shares under its previous NCIB, totaling approximately $1.59 billion.
CGI (NYSE: GIB) has launched a refreshed brand identity to mark its 45th anniversary, emphasizing its commitment to helping clients leverage technology for value creation. The updated tagline, Insights you can act on, reflects CGI's extensive industry knowledge and collaborative approach. This brand refresh coincides with the annual Voice of Our Clients initiative, which has gathered insights from over 6,775 conversations, representing organizations with a collective revenue of C$9 trillion. CGI aims to assist clients in navigating post-pandemic business priorities through informed strategic decisions.
CGI will host its Annual General Meeting on January 27, 2021, and release its fiscal 2021 first quarter results on the same day. Shareholders can participate online and vote, as in-person attendance is not permitted. The fiscal results will reflect the performance for the quarter ended December 31, 2020. The conference call for discussing the results will begin at 9:00 a.m. (EST). CGI reported revenue of C$12.16 billion for fiscal 2020, positioning itself as a leading IT and business consulting services firm globally.
CGI (NYSE: GIB, TSX: GIB.A) announced that Vantage Bank Texas has successfully implemented CGI All Payments as part of its digital transformation strategy. This solution replaces legacy FedWire and ACH systems, facilitating real-time payments and enhancing operational efficiency. The project was executed in just four months, enabling Vantage Bank to better meet customer expectations and future-proof its payment systems. CGI All Payments aims to reduce transaction costs and improve service availability while ensuring security through Microsoft Azure.
CGI (NYSE: GIB) has been awarded a prime contractor position by the U.S. Department of State for the Global Support Strategy for Overseas Consular Support Services 2.0 (GSS 2.0) contract, valued at a ceiling of $3.3 billion over a 10-year period. This contract includes a base year and nine option years, focusing on enhancing visa application processes at U.S. embassies and consulates worldwide. CGI will utilize its Atlas360 solution to improve customer service and operational efficiency within the Bureau of Consular Affairs.
CGI (NYSE: GIB; TSX: GIB.A) has acquired the Professional Services Division of Harris, Mackessy & Brennan, Inc., enhancing its technology consulting services for commercial and government clients. The deal, finalized on December 31, 2020, adds 165 skilled consultants and a deep client portfolio in Central Ohio, particularly in Columbus. This strategic move aligns with CGI's build-and-buy strategy aimed at strengthening its position in the U.S. market.
CGI has filed its Management Proxy Circular for the Annual General Meeting of Shareholders scheduled for January 27, 2021. In conjunction with this, CGI submitted its 2020 Annual Information Form and Fiscal 2020 Results to securities regulators in Canada and the U.S. The electronic versions of these documents are available on CGI's investor website. The company employs approximately 76,000 professionals globally and reported a fiscal 2020 revenue of C$12.16 billion.
The UK Ministry of Defence (MOD) has selected CGI (NYSE: GIB) as a key supplier for the CORTISONE programme, aiming to migrate healthcare services to a secure cloud environment. This initiative will enhance the medical capabilities of the UK Armed Forces by integrating with the NHS and allowing access to various commercial off-the-shelf medical applications. CGI has a longstanding partnership with the MOD, delivering secure IT systems for over 40 years. The company reported fiscal 2020 revenue of C$12.16 billion.
CGI reported Q4-F2020 revenue of $2.93 billion, a 1.1% decline year-over-year. Adjusted EBIT stood at $457.6 million, unchanged from last year, with a margin of 15.6%. Net earnings were $251.9 million (down 22.3%), leading to a diluted EPS of $0.96. Full-year revenue reached $12.16 billion, improving slightly by 0.4%. Bookings were notably strong at $3.47 billion in Q4, a book-to-bill ratio of 118.8%, and the backlog remains robust at $22.67 billion.
CGI (GIB) is set to announce its fourth quarter and fiscal year 2020 results on November 11, 2020, before market opening. The conference call will take place at 9:00 a.m. EST, featuring insights from CEO George D. Schindler and CFO François Boulanger. Investors can access a live webcast and an archived replay on CGI's Investor Relations website. The firm, a leading IT consulting services provider, reported revenue of C$12.1 billion for fiscal 2019 and employs over 77,500 professionals globally.