CGI Group, Inc.
) extended its present contract with
The Toronto-Dominion Bank
) till 2026, under which it processes TD Bank's Mutual fund
Per the agreement, CGI will continue to utilize its Wealth360
Investment Funds platform to process TD Bank's mutual fund
transactions under a managed services model.
CGI's Wealth360 provides top-notch fund accounting services to
some of North America's foremost fund houses, one of which is TD
Bank. Using an extensive validation engine, it conducts the
valuation process with efficiency and accuracy, and is scalable
and optimized to deal with high volumes.
CGI has been a long-term partner to TD Bank in providing
information technology services to the latter. In addition, CGI
also facilitates complete access to its services to TD Bank's
Canadian retail branch network, advisor network and third-party
Headquartered in Toronto, TD Bank has over 1.8 million mutual
Ranking fifth globally in information technology and business
process services, CGI boasts annual revenues exceeding C$10
billion and an order backlog amounting to over C$19 billion.
At the beginning of this month, CGI renewed and extended its
contract with EDP, a primary European energy producer with global
operations. The 4-year agreement, wherein CGI will provide
comprehensive data center and infrastructure management services,
will boost CGI's top-line by €40 million.
In the same time period, CGI Federal, a wholly owned subsidiary
of CGI, secured a "Provisional Authority to Operate"
certification from the Defense Information Systems Agency, which
acts as the cloud service agent for the U.S. Department of
Defense. CGI Federal is a highly competent provider of cloud
computing solutions, and an integral division of CGI.
CGI Group currently holds a Zacks Rank #3 (Hold). Other notable
stocks in the industry include
Computer Sciences Corporation
), each holding a Zacks Rank #2 (Buy).
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