From Nasdaq: 2024-07-10 12:55:00

CGI Group (GIB) secures partnerships to modernize governmental operations, with Colorado selecting GIB’s solutions to enhance payroll operations for 33,000 state employees. Bookings reach CAD 3.8 billion with ratios led by Finland, Poland, Baltics, and Western & Southern Europe, highlighting international expansion and portfolio strength driving growth.

Expanding clientele includes partnerships with Los Angeles County for system modernization and collaborations with Nokia, ExxonMobil, and Amazon. A cautionary outlook on spending and slow procurement decisions impact short-term prospects amidst a 5.3% stock decline year to date against the Computer & Technology sector’s 29.6% return.

Zacks predicts a 0.27% year-over-year revenue decline for CGI in the third quarter of fiscal 2024, with an unchanged earnings estimate of $1.40 per share. Zacks highlights a “Single Best Pick to Double” stock selection, a high-growth potential chemical company poised to outperform market expectations.

Amazon.com Inc., Exxon Mobil Corporation, Nokia Corporation, and CGI Group Inc. offer free stock analysis reports. Zacks Investment Research provides insights on CGI Group’s clientele expansion with the State of Colorado.



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