CGI has a bright future

Article Excerpt

CGI’s shares hit a record high of $160.40 on March 21, 2024, but have dropped recently on fears that businesses may cut spending on technology services as they cope with higher operating costs and interest rates. However, that may be a false economy, as CGI helps themts improve their efficiency. As well, clients are relying on the company to integrate artificial intelligence tools into their systems. CGI INC. $142 is your #1 Aggressive Buy for 2024. The company (Toronto symbol GIB.A; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 230.8 million; Market cap: $32.8 billion; Price-to-sales ratio: 2.3; 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 fuels its growth with a “Build and Buy” strategy. The “Build” part refers to the expansion of its current client relationships and the development…