Existing clients fuel CGI’s growth

Article Excerpt

CGI INC. $103 is your #1 Aggressive Buy for 2022. Through shares in the company (Toronto symbol GIB.A; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 239.7 million; Market cap: $24.7 billion; Price-to-sales ratio: 2.0; No dividends paid; TSINetwork Rating: Extra Risk; www.cgi.com) investors benefit from Canada’s largest provider of computer-outsourcing services. CGI helps clients automate routine functions such as accounting and buying supplies. That makes firms more efficient and lets them focus on their main businesses. A big part of the company’s growth comes from selling more services to existing clients. In the quarter ended June 30, 2022, renewals and extensions accounted for 69% of its bookings. For example, CGI has teamed up with global banking giant HSBC to launch a new online platform that helps businesses process and manage their transactions with foreign suppliers and customers. The platform also helps businesses comply with changing economic sanctions while also preventing fraud. CGI is your #1 Aggressive Buy for 2022. 2022. …