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CGI Group (GIB) Expands Federal Client Base With Sunflower
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CGI Group (GIB - Free Report) recently announced that its subsidiary, CGI Federal, made its Sunflower asset management platform available on the U.S. Department of Treasury’s shared services marketplace.
The cloud-based SaaS solution is tailored for federal agencies, enhancing asset management across personal and real property.
With more than 75 federal agencies currently benefiting from Sunflower, its capabilities include improving compliance, streamlining processes and leveraging data analytics for critical insights.
Sunflower integrates seamlessly with approved Core Financial Management systems, supporting auditability and financial reporting within the federal government.
CGI Rides on Expanding Clientele
CGI’s expanding customer base and portfolio strength are expected to drive top-line growth. GIB’s strong partner base, which includes Nokia (NOK - Free Report) , Exxon Mobil (XOM - Free Report) and Alphabet (GOOGL - Free Report) cloud business, Google Cloud, has been a key catalyst.
In June CGI Group deepened its partnership with Nokia to integrate 5G private wireless networking technology with CGI business services, enhancing digital solutions for connected, real-time operations, exemplified by their 5G testbed for Smart Nano NI in Northern Ireland.
CGI renewed its partnership with ExxonMobil to enhance payment and loyalty services across Europe and Asia Pacific, leveraging CGI PayPartner360 to support more than 13,000 fuel retail sites and engage 10 million active users globally.
CGI’s partnership with Alphabet’s Google Cloud to launch the UNIDO Sustainability Planet Platform remains noteworthy. The platform is created by leveraging AI and geospatial data to address global sustainability challenges and promote inclusive industrial development.
GIB’s expanding international footprint has also been a key catalyst. In the second quarter of fiscal 2024, overall bookings were CAD 3.8 billion for a book-to-bill ratio of 100% and 113% on a trailing 12-month basis.
Booking ratios for the reported quarter were led by Finland, Poland, and Baltics at 127%, Western and Southern Europe at 115%, and the U.K. and Australia at 109%. Global backlog hit CAD 26.8 billion in the reported quarter.
However, this Zacks Rank #3(Hold) company’s cautionary spending and overall slow procurement decision-making have negatively impacted its near-term prospects. You can see the complete list of today’s Zacks #1 Rank stocks here.
The stock has declined 4.6% year to date against the broader Zacks Computer & Technology sector’s return of 28.2%.
The Zacks Consensus Estimate for third-quarter fiscal 2024 revenues is pegged at $2.69 billion, indicating a 0.18% year-over-year decline. The consensus estimate for third-quarter earnings is pegged at $1.40 per share, which remained unchanged in the past 30 days.
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CGI Group (GIB) Expands Federal Client Base With Sunflower
CGI Group (GIB - Free Report) recently announced that its subsidiary, CGI Federal, made its Sunflower asset management platform available on the U.S. Department of Treasury’s shared services marketplace.
The cloud-based SaaS solution is tailored for federal agencies, enhancing asset management across personal and real property.
With more than 75 federal agencies currently benefiting from Sunflower, its capabilities include improving compliance, streamlining processes and leveraging data analytics for critical insights.
Sunflower integrates seamlessly with approved Core Financial Management systems, supporting auditability and financial reporting within the federal government.
CGI Rides on Expanding Clientele
CGI’s expanding customer base and portfolio strength are expected to drive top-line growth. GIB’s strong partner base, which includes Nokia (NOK - Free Report) , Exxon Mobil (XOM - Free Report) and Alphabet (GOOGL - Free Report) cloud business, Google Cloud, has been a key catalyst.
In June CGI Group deepened its partnership with Nokia to integrate 5G private wireless networking technology with CGI business services, enhancing digital solutions for connected, real-time operations, exemplified by their 5G testbed for Smart Nano NI in Northern Ireland.
CGI renewed its partnership with ExxonMobil to enhance payment and loyalty services across Europe and Asia Pacific, leveraging CGI PayPartner360 to support more than 13,000 fuel retail sites and engage 10 million active users globally.
CGI’s partnership with Alphabet’s Google Cloud to launch the UNIDO Sustainability Planet Platform remains noteworthy. The platform is created by leveraging AI and geospatial data to address global sustainability challenges and promote inclusive industrial development.
GIB’s expanding international footprint has also been a key catalyst. In the second quarter of fiscal 2024, overall bookings were CAD 3.8 billion for a book-to-bill ratio of 100% and 113% on a trailing 12-month basis.
Booking ratios for the reported quarter were led by Finland, Poland, and Baltics at 127%, Western and Southern Europe at 115%, and the U.K. and Australia at 109%. Global backlog hit CAD 26.8 billion in the reported quarter.
However, this Zacks Rank #3(Hold) company’s cautionary spending and overall slow procurement decision-making have negatively impacted its near-term prospects. You can see the complete list of today’s Zacks #1 Rank stocks here.
The stock has declined 4.6% year to date against the broader Zacks Computer & Technology sector’s return of 28.2%.
The Zacks Consensus Estimate for third-quarter fiscal 2024 revenues is pegged at $2.69 billion, indicating a 0.18% year-over-year decline. The consensus estimate for third-quarter earnings is pegged at $1.40 per share, which remained unchanged in the past 30 days.