CGI Group (GIB) has pulled off a five-year contract coup with the U.S. Strategic Command (USSTRATCOM) to construct and maintain data integration solutions for the Global Data Integration (GDI) environment. While other companies in the Computer-Services industry have been floundering in comparison, CGI’s shares have surged 18.1% in the past year, leaving its competitors choking on dust.
CGI’s commitment to bolstering defense technology with advanced data fusion and transformation solutions will elevate USSTRATCOM’s operational capabilities, leaving its rivals trembling in their boots. This collaboration is a vital part of the U.S. Joint All-Domain Command and Control initiative, highlighting CGI’s role in enabling seamless integration across various domains to enhance global situational awareness and decision-making capabilities.
CGI Group, Inc. Price and Consensus
CGI Group, Inc. price-consensus-chart | CGI Group, Inc. Quote
CGI’s Prospects Bright in 2023
CGI’s meteoric rise in the IT services sector stems from its sustained growth in vital sectors such as health and government and defense. The company’s unwavering dedication to artificial intelligence, strategic acquisitions, and seamless data integration has catapulted its market positioning and forward-looking strategies to unparalleled heights.
In sync with its forward-thinking approach, CGI’s recent partnership with Alphabet (GOOGL) only deepens its foothold in artificial intelligence.
CGI is further fortifying its resolve to responsible AI by formally signing the Canadian Voluntary Code of Conduct, aligning with its principles to ensure risk analysis and mitigation throughout AI design and development.
CGI’s ironclad 10-year deal with Circle K demonstrates its expansion, focused on elevating managed IT services to new heights. This is in tandem with the company’s unwavering commitment to enhancing customer and employee experiences, magnifying its impact across various industries.
In its fiscal 2023 domain, CGI inked 28 agreements with clients worldwide within the financial services sector, making significant strides and hogging the limelight. Its All Payments solution was cherry-picked by Scotiabank, a leading Canadian multinational bank, which left its competitors green with envy.
CGI is sparing no expense in its quest to develop AI-based solutions and services, with plans to pump in a whopping $1 billion over the next three years.
The Zacks Consensus Estimate is projecting a mouthwatering 2.07% year-over-year growth for CGI’s first-quarter fiscal 2024 revenues, leaving its rivals gnashing their teeth in frustration.
Zacks Rank & Stocks to Consider
Nothing hides the fact that GIB carries a Zacks Rank #4 (Sell).
However, some better prospects in the broader technology sector are Badger Meter (BMI) and Arista Networks (ANET). While Badger Meter is basking in a Zacks Rank #1 (Strong Buy), Arista Networks is strutting with a Zacks Rank #2 (Buy), giving investors a glimmer of hope in this murky financial landscape.
Badger Meter’s shares have flourished by 35.9% in the year-to-date period. BMI’s long-term earnings growth rate is being projected at an eye-popping 20.39%.
Arista Networks’ shares have soared by 71.2% in the year-to-date period. The long-term earnings growth rate for ANET is shimmering at a tantalizing 19.77%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.