CGI Group (GIB) Expands Client Base With the Addition of Korber

24 Jan 2024

Yahoo Finance

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CGI Group GIB Expands Client Base With the Addition of Korber

CGI Group (GIB) partners with Korber to transform pharma production, enhancing efficiency and safety for improved health outcomes.

CGI Group GIB is benefiting from an expanding clientele. It recently entered a collaboration with Korber aimed at transforming pharmaceutical and life sciences production processes.

The collaboration will help CGI leverage Korber's advanced Werum PAS-X Manufacturing Execution System (MES) Suite. It also enables CGI to offer end-to-end services that empower pharmaceutical companies to enhance efficiency, accuracy and safety in their product manufacturing.

By combining CGI's expertise with Korber's digital process control platform, clients can experience reduced time-to-market, lowered production costs and a patient-centric approach that ultimately leads to improved health outcomes.

CGI seamlessly integrates robust IT and operational technology (OT) security, coupled with MES services expertise, ensuring a streamlined implementation of the PAS-X MES Suite. It plays a pivotal role in optimizing processes and driving digital transformation for 11 of the top 20 global biotech and pharmaceutical companies.

CGI Group, Inc. Price and Consensus

CGI Group, Inc. price-consensus-chart | CGI Group, Inc. Quote

CGI’s Growth Prospects Remain Bright

CGI Group’s shares have returned 23.6% in the past year compared with the Zacks Computer Services industry’s increase of 18.6%. The positive momentum can be attributed to CGI's recent collaboration with Korber and the effective incorporation of innovative technology solutions in pharmaceutical manufacturing.

This Zacks Rank #2 (Buy) company’s expanding customer base and portfolio strength are expected to drive its top-line growth. It has recently been selected by the likes of the City of Dallas, U.S. Strategic Command, Scotiabank, and Alimentation Couche-Tard. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In a move towards technological innovation, CGI recently launched CGI Machine Vision, an AI-powered computer vision solution revolutionizing asset and infrastructure monitoring across industries, enhancing operational efficiency and safety through real-time data analysis and predictive models.

GIB’s strong partner base, which includes Alphabet GOOGL, Microsoft MSFT and Amazon AMZN, has been a key catalyst.

In December, CGI partnered with Alphabet’s Google Cloud to launch the UNIDO Sustainability Planet Platform, leveraging AI and geospatial data to address global sustainability challenges and promote inclusive industrial development.

In November, CGI proudly announced its membership in the Microsoft Intelligent Security Association (MISA), fortifying its cybersecurity services through access to Microsoft's comprehensive security product portfolio.

CGI also announced the availability of its flexible cloud-ready enterprise payments solution, CGI All Payments, on Amazon's cloud computing platform, Amazon Web Services (AWS), to streamline payment procedures for banks and offer scalability, ISO 20022 standards compliance, and cloud-based delivery.

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CGI’s Outlook Strong

CGI leverages its proximity-based business model, combining a global network of experts and capabilities with local accountability, to provide clients with end-to-end services.

The Zacks Consensus Estimate for first-quarter fiscal 2024 revenues is pegged at $2.59 billion, indicating 2.07% year-over-year growth. The consensus estimate for first-quarter earnings is pegged at $1.31 per share, indicating 7.38% year-over-year growth.

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