CGI Federal Inc., a wholly-owned U.S. operating subsidiary of CGI Group Inc. (GIB - Free Report) , recently won a five-year contract for an indefinite delivery/indefinite quantity (ID/IQ) for Technical, Acquisition and Business Support Services (TABSS) from the Department of Homeland Security (DHS) and the United States Coast Guard (USCG).
DHS is the third largest Cabinet department in the U.S. federal government, employing more than 200,000 employees. The department came into existence after the Sep’11 attacks on the U.S. Its foremost responsibility is to protect the U.S. territories from terrorist attacks, man-made accidents, and natural disasters. The department’s duty also entails offering immediate assistance and support in times of crisis apart from enforcing immigration laws.
DHS’ programs and assets have an acquisition life cycle, which starts from initiation and goes through research, production, development, deployment, operations, upgrade and disposal of its essential assets. Per the contract, CGI Federal needs to contend for task orders to provide mission-critical engineering, program management and technical services to support the acquisition cycle of DHS.
CGI Federal has a domain expertise to support DHS’ mission. Over the years, it has partnered with federal agencies to provide solutions for defense, civilian and intelligence missions. Its next-generation solutions are expected to improve cost-efficiency across DHS. TABSS also plays a vital role in providing effective support for planning and administration of programs, in accordance with the objectives of DHS’.
CGI Group is the fifth largest independent information technology and business process services firm in the world with over 71,000 members. The company offers a wide array of services like high-end business and IT consulting, systems integration and infrastructure management.
CGI Group Inc. currently has a Zacks Rank #4 (Sell). Some of the other stocks in the sector worth mentioning are Ciber Inc , Perficient Inc (PRFT - Free Report) , each carrying a Zacks Rank #1( Strong Buy) and Lionbridge Tech having a Zacks Rank #2 ( Buy).