CGI Inc Stock Price, News & Analysis

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has completed the acquisition of Aeyon, a leader in digital transformation and AI technologies for the U.S. Federal Government. This acquisition expands CGI's capabilities in data management, analytics, and intelligent automation, while strengthening relationships with key national security clients like the Office of the Secretary of Defense, U.S. military branches, FAA, and NASA.

The merger aims to enhance CGI's service offerings and reinforce its commitment to advancing client missions. Aeyon's expertise in rapid response capabilities and industry insights is expected to accelerate critical mission outcomes for federal agencies. The acquisition aligns with CGI's culture and values, promising greater opportunities for employees and a broader range of solutions for clients.

CGI (NYSE: GIB) has been named one of America's Best Employers for Women by Forbes in 2024. This recognition is based on a survey of 150,000 women at companies with at least 1,000 employees. CGI's commitment to supporting women in technology is evident through various initiatives:

1. Employee resource groups for networking, mentoring, and professional development
2. Events to inspire female students in STEM careers
3. Initiatives promoting respect, empowerment, and inclusion

Stephanie Mango, President of CGI Federal, emphasized the company's dedication to increasing women's representation at all levels. Jenny Hilliard, VP of Human Resources, highlighted CGI's focus on creating a diverse, equitable, and inclusive environment that encourages authenticity and career growth for women.

CGI (TSX: GIB.A) (NYSE: GIB) has been named a Leader in Everest Group's Guidewire Services PEAK Matrix® Assessment 2024 for property and casualty (P&C) insurance. The company was recognized for expanding Guidewire Services into growing markets, building local and offshore delivery capabilities, and adopting geo-specific strategies. CGI offers a comprehensive suite of services for P&C clients, including advisory, consulting, full implementations, and ongoing support for the Guidewire platform.

The assessment highlighted CGI's success in delivering on-time Guidewire implementations, enhanced localized delivery capabilities, and investments in point solutions and toolkits for test automation and accelerating product implementations. Clients appreciated CGI's domain knowledge and understanding of legacy systems, which facilitated smooth transitions to new systems.

CGI (TSX: GIB.A) (NYSE: GIB) has announced a private offering of C$750 million in senior unsecured notes. The offering consists of C$300 million in 3-year notes with a 3.987% interest rate and C$450 million in 5-year notes with a 4.147% interest rate. The offering is expected to close around September 5, 2024. CGI plans to use the net proceeds of approximately C$746.1 million to repay existing debt, including US$350 million in notes maturing on September 12, 2024, and for general corporate purposes. The notes will be offered privately in Canadian provinces and are not registered under the U.S. Securities Act.

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has been awarded two contracts by the U.S. Patent and Trademark Office (USPTO) with a combined potential value of US$119 million. The first is a 5-year Blanket Purchase Agreement worth up to US$84 million for secure financial management services using CGI's Momentum® software. The second is a US$36 million task order over five years to modernize USPTO's Certified Copy Center and Assignment Center products using cloud technology. These contracts aim to enhance operational efficiency, support revenue collection, and modernize systems for patent and trademark transactions, benefiting the global innovation community served by USPTO.

CGI, a leading IT and business consulting firm, has extended its partnership with the City of New York for the maintenance of the STARS parking violation system. The new five-year contract, with an optional two-year renewal, involves CGI working with the city's Department of Finance to manage adjudication, payment, and collection processes for parking and camera violations. This system, built on CGI's Advantage Collections platform, handles approximately 17 million tickets annually, resulting in the collection of over C$1.3 billion in public revenue each year. CGI will provide IT and consulting services to adapt the system to evolving business environments, implement modifications, and design new solutions.

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has released Momentum 8.2, an updated version of its budget, financial, and acquisition management software for federal agencies. The new release features advanced AI capabilities, including the Momentum AI Assistant, which streamlines workflows and enhances productivity. Momentum 8.2 also introduces improved security measures and ensures compliance with federal mandates such as G-Invoicing, SFFAS 54, and DATA Act reporting requirements.

The software is FedRAMP authorized and available on the U.S. Treasury's FM QSMO shared service marketplace. Momentum is currently used by over 180 federal government organizations to manage more than US$1 trillion in budgeted authority and process millions of transactions annually.

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has secured a 2-year, US$378 million contract extension with the U.S. Department of State for passport application processing services. This extension continues CGI's support for the Bureau of Consular Affairs, processing over 21 million passports annually. The company will focus on enhancing process efficiencies, improving customer service, and optimizing the passport application experience for American citizens.

CGI's ongoing collaboration with the DoS has resulted in improved workflow, reduced administrative burdens, and increased transparency in the passport application process. The extended contract will provide optimized workflow processes, change management, and extensive customer service assistance. Applicants will benefit from enhanced services, including more channels for document applications and fee payments.

CGI, a leading business and IT consulting firm, has been recognized as a Major Player in the IDC MarketScape: Worldwide Cloud Professional Services 2024 Vendor Assessment. The report highlights CGI's strengths in partnering with clients to co-create, deliver, and manage innovative cloud-based digital business solutions. CGI's approach focuses on six cloud imperatives: strategy, portfolio rationalization, innovation, integration, outcomes-focused delivery, and operational excellence.

The IDC MarketScape praised CGI's next-generation tools and methodologies, as well as its ability to help clients justify cloud professional services expenditures. CGI's comprehensive cloud services are essential for enabling clients to drive business agility and innovation within their digital strategies. The company's recent research indicates a significant increase in cloud migration and application modernization plans over the next two years, with a strong focus on enabling AI capabilities.