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CGI Inc. (NYSE:GIB) Faces Analyst Downgrade Amid New Government Contract
Financial Modeling Prep· 2025-12-15 06:00
Core Viewpoint - CGI Inc. is a significant player in the technology and professional services sector, specializing in IT and business consulting services, and has recently secured a major contract that may enhance its future performance [1][2][3]. Group 1: Company Overview - CGI Inc. provides a wide range of IT and business consulting services, including systems integration, outsourcing, and managed services [1]. - The company competes with major firms like Accenture and IBM in the global market [1]. Group 2: Recent Developments - On December 14, 2025, CIBC downgraded CGI's stock from "Outperform" to "Neutral" when the stock was priced at $90.61 [2]. - CGI has secured a significant contract with the Texas Department of Information Resources (DIR) to provide commercial off-the-shelf (COTS) software and related services to state and local governments [2][3]. Group 3: Contract Impact - The contract with Texas DIR aims to enhance digital transformation and data integration within the public sector [3]. - CGI's solutions, such as CGI Advantage and CGI Transcend, are designed to support government operations and improve service delivery [3]. Group 4: Stock Performance - CGI's stock price is currently $90.61, reflecting a slight increase of 0.38% or $0.35 [4]. - The stock has fluctuated between $89.69 and $90.76 during the trading day, with a yearly high of $122.79 and a low of $84 [4]. - CGI's market capitalization is approximately $20.18 billion, with a trading volume of 222,690 shares [4].
CGI awarded Texas Department of Information Resources Cooperative Contract for software and related services
Prnewswire· 2025-12-11 13:00
Core Insights - CGI has been awarded a contract by the Texas Department of Information Resources (DIR) to provide commercial off-the-shelf (COTS) software and related services to state and local governments [1][2]. Group 1: Contract Details - The contract enables CGI to offer several market-leading solutions aimed at advancing digital transformation, data integration, and citizen engagement in the public sector [2]. - CGI Advantage, a SaaS ERP solution, supports key government operations such as finance, human resources, budgeting, and procurement [2]. - CGI Transcend™, a SaaS case management solution, is designed for health and human services agencies, enhancing service delivery and data-driven decision-making [2]. - The contract is effective immediately, allowing eligible public sector organizations in Texas to purchase CGI's software and services directly [3]. Group 2: Company Background - CGI, founded in 1976, is one of the largest independent technology and professional services firms globally, with 94,000 consultants and professionals [4]. - The company reported fiscal 2025 revenue of CA$15.91 billion, with shares listed on the TSX and NYSE [4]. Group 3: DIR Overview - The Texas Department of Information Resources (DIR) aims to lead the state's technology strategy and provide innovative solutions for all levels of government [5].
San Diego County modernizes budgeting with cloud-based CGI Advantage®
Prnewswire· 2025-12-09 13:00
Core Insights - San Diego County has launched the CGI Advantage cloud-based Performance Budgeting solution, enhancing its existing budgeting system and aligning with strategic priorities [1][2] Group 1: Transition to Cloud-Based Solution - The transition from an on-premises system to CGI Advantage in the cloud marks a significant milestone in the County's modernization strategy, simplifying updates and enhancing user experience [2][3] - The upgrade reduces operational costs, improves system functionality, and strengthens security and compliance [2] Group 2: Benefits of CGI Advantage - Key benefits include migration to a SaaS model, enabling real-time access to critical information for County analysts [3] - CGI is assisting in converting legacy reports to CGI Advantage Insight, modernizing reporting and improving decision-making [3][4] Group 3: User Support and System Reliability - Enhanced user support will be provided through CGI Advantage Academy, ensuring employees can fully utilize the platform [4] - Automated testing via TestSavvy will streamline the update process and enhance system reliability [4] Group 4: Commitment to Modernization - CGI emphasizes its commitment to supporting San Diego County's modernization goals through innovative technology and improved operational efficiency [5] - The upgrade aligns with CGI's mission to empower public sector clients and deliver better outcomes for communities [5] Group 5: About CGI Advantage - CGI Advantage is a unified ERP platform designed for government needs, streamlining financial management, human resources, performance budgeting, procurement, and business intelligence operations [6] - The platform is backed by over 46 years of public sector expertise and a strong client community [6] Group 6: About CGI - Founded in 1976, CGI is one of the largest independent IT and business consulting firms globally, with 94,000 professionals delivering a comprehensive portfolio of services [7] - CGI reported revenue of CA$15.91 billion for Fiscal 2025, with shares listed on TSX and NYSE [7]
CGI advances in Partner Status with Snowflake, ServiceNow, and UiPath, accelerating client outcomes in AI, data and business automation
Prnewswire· 2025-11-04 11:30
Core Insights - CGI has achieved Elite Partner status with Snowflake and ServiceNow, and Diamond Partner status with UiPath, highlighting its strong position in the technology consulting sector [1][2][3] Group 1: Partnership Achievements - CGI's Elite Partner status with Snowflake and ServiceNow reflects its extensive certified expertise and successful delivery of industry-focused outcomes globally [2][3] - As a Diamond Partner with UiPath, CGI has demonstrated outstanding proficiency in delivering end-to-end business automation solutions [3] Group 2: Strategic Focus - CGI's Global Alliances strategy combines deep industry knowledge with leading technologies to help clients embrace emerging technologies like Generative and Agentic AI [2][3] - The company maintains relationships with over 150 technology firms, allowing it to select the best technology solutions tailored to client needs [2][3] Group 3: Company Overview - Founded in 1976, CGI is one of the largest independent IT and business consulting services firms, with 93,000 professionals globally [4] - CGI reported revenue of CA$14.68 billion for Fiscal 2024, indicating strong financial performance [4]
CGI selected by Texas Comptroller of Public Accounts to implement enterprise financial system
Prnewswire· 2025-08-25 10:30
Core Insights - CGI has been awarded a multi-year contract by the Texas Comptroller of Public Accounts to implement a modern SaaS enterprise financial system based on CGI Advantage, replacing the state's legacy accounting systems [1][2][3] Company Overview - CGI is one of the largest independent technology and professional services firms globally, founded in 1976, with a workforce of 93,000 professionals [5] - The company reported revenue of CA$14.68 billion for Fiscal 2024 [5] Project Details - The new system will process over 42.7 million transactions annually and support approximately 5,000 users across 225 state agencies and higher education institutions [2] - CGI Advantage is designed specifically for government use, ensuring a seamless transition and maintaining the reliability of the state's financial systems [2][3] Technology and Features - The implementation will include CGI Advantage Financial Management, vendor self-service capabilities, and integration with various state systems [3] - The cloud-based solution aims to enhance reporting, improve data analytics, and streamline processes while ensuring compliance with state and federal requirements [3][4] Product Information - CGI Advantage is a unified ERP platform that meets state and local government requirements, streamlining financial management, human resources, performance budgeting, procurement, and business intelligence operations [4]
CGI to support Suffolk County's modernization of financial and administrative IT systems with cloud-based CGI Advantage® solution
Prnewswire· 2025-06-04 12:00
Core Insights - CGI has extended its partnership with Suffolk County, New York, to modernize the county's financial and administrative systems, building on a relationship that spans over 25 years [1][5] - The initiative involves transitioning to the advanced version of CGI Advantage®, utilizing a Software-as-a-Service (SaaS) platform for key functions such as finance, procurement, and advanced reporting [2][4] - The modernization aims to enhance operational resilience, strengthen security, and reduce reliance on legacy systems, ultimately improving service delivery for residents [2][5] Company Overview - CGI is one of the largest independent technology and professional services companies globally, founded in 1976, with a workforce of 94,000 professionals [7] - The company reported revenue of CA$14.68 billion for Fiscal 2024 and is listed on both the TSX and NYSE [7][8] - CGI Advantage is a unified ERP platform designed specifically for government needs, streamlining various operations including financial management and procurement [6]