CGI Group expands federal client base with Sunflower asset management platform

From Nasdaq: 2024-07-04 09:20:00

CGI Group, via its subsidiary CGI Federal, introduced its Sunflower asset management platform on the U.S. Department of Treasury’s marketplace. The cloud-based solution aids federal agencies in managing assets efficiently. Currently, over 75 agencies benefit from Sunflower’s capabilities, including enhancing compliance, streamlining processes, and utilizing data analytics for insights, seamlessly integrating with approved systems.

CGI Group’s growth is propelled by an expanding customer base and strong partnerships with companies like Nokia, Exxon Mobil, and Alphabet’s Google Cloud. Initiatives include integrating 5G technology with business services, enhancing payment and loyalty services globally, and launching the UNIDO Sustainability Planet Platform. The company’s international bookings were CAD 3.8 billion in Q2 fiscal 2024, with notable growth in various regions.

In the near term, CGI Group’s cautious spending approach and slow procurement decisions have impacted its prospects. The company’s stock has declined 4.6% year-to-date compared to the broader Computer & Technology sector’s 28.2% return. Analysts predict a 0.18% decline in Q3 fiscal 2024 revenues, with steady earnings estimates at $1.40 per share.

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Read more at Nasdaq: CGI Group (GIB) Expands Federal Client Base With Sunflower