CGI keeps winning new contracts

Article Excerpt

CGI INC. $133 is your #1 Aggressive Buy for 2023. The company (Toronto symbol GIB.A; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 245.1 million; Market cap: $32.6 billion; Price-to-sales ratio: 2.4; No dividends paid; TSINetwork Rating: Extra Risk; www.cgi.com) is Canada’s largest provider of computer-outsourcing services. CGI helps clients automate routine functions such as accounting and buying supplies. That makes companies more efficient and lets them focus on their main businesses. The company’s strong reputation continues to help it win new contracts. For example, the Swedish Social Insurance Agency, which manages Sweden’s social security system, has awarded CGI a new contract to help digitize its operations. That will make it easier for citizens to access information about these government services. This two year contract is worth $64.9 million. While that’s small next to CGI’s annual revenue of $13.2 billion, deals like this should help it secure more contracts, particularly with other European governments. CGI is your #1 Aggressive Buy for 2023. 2023. …