CGI (NYSE:GIB) Stock, Quote.Headers.trade-ideas

CGI is a Canada-based IT-services provider with an embedded position in North America and Europe. The company generates more than CAD 14 billion in annual revenue, employs over 90,000 personnel, and operates across 400 offices in 40 countries. CGI offers a broad portfolio of services such as consulting, systems integration, application maintenance, and business process services. Its largest vertical market is government, which contributes more than a third of group revenue.

Equities

Large Cap

News

Markets

CGI Inc (NYSE: GIB) disclosed the acquisition of Momentum Consulting Corp.

CGI Amplifies Miami Presence: Snaps Up IT Fim Momentum Consulting

Upgrades

Downgrades

Price Target

Analyst Ratings

Tech

BofA Analyst Upgrades DXC Tech, Double Downgrades CGI - Read Why

Earnings

CGI Smashes Past Q3 Earnings Estimates, Clocks $23.34B Backlog

CGI Inc

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CGI will issue&nbsp;C$750 million&nbsp;in aggregate principal amount of senior unsecured notes, consisting of C$300&nbsp;million aggregate principal amount of 3-year notes and&nbsp;C$450 million&nbsp;aggregate principal amount of 5-year notes. The 3-year notes will bear interest at the rate of&nbsp;3.987%&nbsp;per annum and 5-year notes will bear interest at the rate of&nbsp;4.147%&nbsp;per annum.&nbsp;

Reported Earlier, CGI Prices C$750M Senior Unsecured Notes Offering With 3-Year And 5-Year Maturities

Contracts

CGI Federal Inc., The Wholly-owned U.S. Operating Subsidiary Of CGI, Announced Two Contract Awards From The U.S. Patent And Trademark Office With A Combined Total Potential Value Of $119M

CGI will partner with the city&#39;s Department of Finance under a new five-year contract with an optional two-year renewal to administer the adjudication, payment and collection processes for parking and camera violations issued by the city, resulting in the collection of over&nbsp;C$1.3 billion&nbsp;in public revenue each year.

CGI Reveals Its Selection By The City Of New York For Maintenance Of The STARS Parking Violation System

By extending its longstanding collaboration with DoS, CGI will continue to deliver process efficiencies and customer service improvements, as well as other core mission services to support the Bureau.

CGI Subsidiary Reveals 2-year, $378M Extension Of Its Contract With US Department Of State For End-to-end Passport Application Processing Services

Scotiabank analyst Divya Goyal maintains CGI INC (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GIB#TSX">GIB</a>) with a Sector Outperform and raises the price target from C$160 to C$170.

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Scotiabank Maintains Sector Outperform on CGI INC, Raises Price Target to C$170

RBC Capital analyst Paul Treiber maintains CGI INC (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GIB#TSX">GIB</a>) with a Outperform and raises the price target from C$163 to C$170.

RBC Capital Maintains Outperform on CGI INC, Raises Price Target to C$170

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CGI shares are trading higher after the company reported better-than-expected Q3 financial results.  Additionally, the company announced the acquisition of Aeyon, no terms were disclosed.

CGI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIB#NYSE">GIB</a>) reported quarterly earnings of $1.40 per share which beat the analyst consensus estimate of $1.38 by 1.45 percent. This is a 4.48 percent increase over earnings of $1.34 per share from the same period last year. The company reported quarterly sales of $2.68 billion which beat the analyst consensus estimate of $2.67 billion by 0.52 percent. This is a 0.48 percent decrease over sales of $2.70 billion the same period last year.

Earnings Beats

CGI Q3 Adj $1.40 Beats $1.38 Estimate, Sales $2.68B Beat $2.67B Estimate

CGI Federal To Acquire Aeyon, Enhancing Digital Transformation And AI Capabilities For U.S. Federal Government; Strengthens Relationships With National Security Clients; Transaction Expected To Close In Q4 FY 2024; Terms Not Disclosed

UBS analyst Kevin Mcveigh initiates coverage on CGI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIB#NYSE">GIB</a>) with a Neutral rating and announces Price Target of $112.

Initiation

UBS Initiates Coverage On CGI with Neutral Rating, Announces Price Target of $112

Under the agreement, CGI acquires the managed services business with more than 90 credit unions and creates new partnerships with Credit Union Central of&nbsp;Manitoba&nbsp;(CUCM), Alberta Central and SaskCentral. The business will be seamlessly integrated into CGI&#39;s existing operations, ensuring continuity and quality of service for all clients. As part of the agreement, more than 150 Celero employees will join CGI, benefitting from the company&#39;s ownership-based culture which will ensure smooth onboarding as well as future professional development opportunities.

Reported Thursday, CGI Expands Managed Services With Acquisition Of Celero's Credit Union Business, Now Serving Over 90 Credit Unions Nationwide

CGI Is Partnering With Risk Management Partners, A Unit Of Munich Re, To Help Insurers Reduce Claims, Increase Profits, And Drive Long-term Value Through Climate Risk Mitigation

Jefferies analyst Surinder Thind initiates coverage on CGI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIB#NYSE">GIB</a>) with a Buy rating and announces Price Target of $120.

Jefferies Initiates Coverage On CGI with Buy Rating, Announces Price Target of $120

CGI (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GIB#TSX">GIB</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIB#NYSE">GIB</a>), one of the largest IT and business consulting services firms in the world, announces the renewal of its partnership with ExxonMobil for payment and loyalty services across&nbsp;Europe&nbsp;and the&nbsp;Asia Pacific&nbsp;region. CGI will further enhance customization options for ExxonMobil and its customers through its fuel leading card payment solution,&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4199566-1&amp;h=3136795292&amp;u=https%3A%2F%2Fwww.cgi.com%2Fen%2Fbrochure%2Fcgi-paypartner360%2Fcgi-paypartner360-oil-and-gas&amp;a=CGI+PayPartner360" target="_blank">CGI PayPartner360</a>. This includes delivering essential payment infrastructure services to over 13,000 fuel retail sites and providing its loyalty solution to engage over 10 million active users.

Government

Regulations

ExxonMobil and CGI Expand Collaboration for Advanced Payment Solutions in Europe and Asia

CIBC analyst Stephanie Price downgrades CGI INC (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GIB#TSX">GIB</a>) from Outperformer to Neutral and lowers the price target from C$165 to C$151.

CIBC Downgrades CGI INC to Neutral, Lowers Price Target to C$151

CGI intends to enter into a private agreement with CDPQ for the purchase for cancellation of 2,887,878 of its Class A subordinate voting shares (&quot;Class A Shares&quot;) held by CDPQ for a price of&nbsp;$138.51&nbsp;per Class A Share, which represents a discount to the closing price on&nbsp;May 27, 2024&nbsp;of the Class A Shares on the Toronto Stock Exchange (&quot;TSX&quot;).
The transaction will be made in connection with the periodic portfolio rebalancing of CDPQ. Once completed, CDPQ will continue to hold approximately 16.29 million Class A Shares, representing approximately&nbsp;7.15%&nbsp;of CGI&#39;s total outstanding shares.

Reported Monday, CGI Intends To Repurchase 2.89M Of Its Shares Held By CDPQ At $138.51 Per Share

George D.&nbsp;Schindler to retire and remain a member of the Board, effective October 1, 2024

Management

CGI Appoints François Boulanger As President And CEO

CGI And Nokia Have Signed An Agreement That Deepens Their Strategic Partnership, Combining Leading-edge 5G Private Wireless Networking Technology With CGI Business Services And Solutions

CIBC analyst Stephanie Price maintains CGI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIB#NYSE">GIB</a>) with a Outperformer and lowers the price target from C$169 to C$165.

CIBC Maintains Outperformer on CGI, Lowers Price Target to C$165

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Shares of companies within the broader tech sector are trading higher amid market strength after the Fed on Wednesday left rates unchanged and Fed's Chair Powell said it is unlikely that the next policy rate move would be a rate hike.

CGI Inc. (GIB) Q3 2024 Earnings Call Transcript

CGI Inc. 2024 Q3 - Results - Earnings Call Presentation

CGI: A New 0.4% Dividend Isn't Enough To Get Me On The Bandwagon

CIBC analyst Stephanie Price maintained a Hold rating on CGI Group (GIB – Research Report) today and set a price target of C$155.00. The company's ...

CIBC Keeps Their Hold Rating on CGI Group (GIB)

In a report released today, Surinder Thind from Jefferies maintained a Buy rating on CGI Group (GIB – Research Report), with a price target of C$13...

New Buy Rating for CGI Group (GIB), the Technology Giant

In a report released today, Jerome Dubreuil from Desjardins maintained a Buy rating on CGI Group (GIB – Research Report), with a price target of C$...

CGI Group (GIB): New Buy Recommendation for This Technology Giant

U.S. Department of State extends contract with CGI

Invesco EQV International Equity Fund Q2 2024 Review

CGI subsidiary bags modernization contracts for U.S. patent and trademark office

CGI prices C$750M debt offering via issuance of senior unsecured notes

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Press Releases

CGI reports third quarter Fiscal 2024 results

CGI recognized as a Major Player for Worldwide Cloud Professional Services in IDC MarketScape Report

U.S. Department of State extends contract with CGI for application processing services for more than 21 million passports annually

CGI's latest Momentum® release delivers advanced AI capabilities to help federal agencies streamline operations

CGI extends partnership with the City of New York for maintenance of parking system technology

CGI awarded modernization contracts in support of global innovation community at the U.S. Patent and Trademark Office

Offerings

CGI announces private offering of C$750 million, in aggregate, of 3-year and 5-year notes

Insurance

CGI named a Leader in Everest Group's Guidewire Services PEAK Matrix® Assessment 2024

Jefferies

CIBC

B of A Securities

CGI Group Inc.

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CGI (NYSE:GIB) Stock, Quote.Headers.trade-ideas