Cognizant Technology Solutions - CTSH STOCK NEWS

Cognizant (NASDAQ: CTSH) and IBM have announced the launch of a new FinOps Center of Excellence (CoE), combining IBM's FinOps software with Cognizant's cloud and developer platforms. The collaboration includes extensions of Cognizant's Skygrade™ and Flowsource™ platforms, integrated with IBM's Apptio, Turbonomic, watsonx.governance, and watsonx Code Assistant for Z. The initiative focuses on three key areas: mainframe modernization, FinOps for cloud cost management, and AI governance, aiming to help enterprises manage complexity, modernize legacy applications, and implement AI solutions at scale.

Cognizant (CTSH) reported Q3 2024 financial results with revenue of $5.0 billion, showing a 3.0% year-over-year increase. The company achieved a 14.6% operating margin and an adjusted operating margin of 15.3%. Key highlights include strong performance in Health Sciences (up 7.8% YoY) and Financial Services (up 0.7% YoY). The company secured six deals worth over $100 million each in Q3, bringing the year-to-date total to nineteen. Trailing 12-month bookings reached $26.2 billion with a book-to-bill ratio of 1.3x. Full-year 2024 guidance projects revenue growth of 1.4% to 1.9% in constant currency.

Cognizant (NASDAQ: CTSH) announced that its global skilling initiative, Synapse, has reached over 275,000 people in its first year since launching in October 2023. The program aims to provide technology job training to one million people worldwide by 2026. The initiative focuses on five key areas: Skills Accelerator, Technology Partnerships, Apprenticeships, Community Education, and Employee Skilling. Notable achievements include training 195,000 associates in Gen AI skills, registering 600+ apprentices, and committing nearly $13 million in community grants. The program addresses the growing need for AI capabilities, as only 35% of organizations rate their skills and talent as mature according to Cognizant's New Work New World study.

Cognizant (CTSH) has announced a new IT Managed Services partnership with Alnylam Pharmaceuticals, a leading RNAi therapeutics company. As the primary IT services provider, Cognizant will manage Alnylam's global infrastructure, operations, cloud, security, platforms, applications, and advanced data analytics. The collaboration aims to enhance automation, reduce operational efforts, and improve business decision transparency using Cognizant's managed services frameworks and tools. This partnership leverages Cognizant's experience working with 30 top global pharmaceutical companies to implement and manage advanced technology solutions.

Cognizant (NASDAQ:CTSH) has secured the 10th position on Newsweek's America's Most Reliable Companies 2025 list. The recognition stems from an independent survey of over 1,700 B2B decision-makers nationwide, evaluating companies based on recommendation likelihood, business ease, value for money, deliverable consistency, and dependability reputation.

The ranking, presented in collaboration with Statista, selected the top 300 most reliable companies in America. This achievement follows Cognizant's recent recognition in TIME Magazine's World's Best Companies 2024 list, highlighting the company's role in driving innovation and making a global impact.

Cognizant (NASDAQ: CTSH) is enhancing its data modernization offering by integrating NVIDIA RAPIDS and the Cognizant® Data and Intelligence Toolkit to address enterprise cloud computing cost challenges. The collaboration aims to optimize cloud expenditures and enhance performance through GPU-based infrastructure.

Proprietary benchmarks demonstrate a 2.5x acceleration in data engineering and data science workloads, alongside a 66% reduction in computing costs compared to CPU-processing. The solution is expected to achieve 50-80% automation in cloud modernization processes, helping businesses accelerate data processing capabilities while optimizing costs.

Cognizant (CTSH) has partnered with FCCI Insurance Group to launch new Excess & Surplus (E&S) lines of business, which went live on October 1, 2024. The collaboration leverages Duck Creek's policy administration system to modernize FCCI's operations and expand into the E&S market. The implementation aims to drive operational efficiencies, automate processes, and enhance product speed to market. The E&S segment includes General Liability, Excess Liability, Inland Marine, Crime, and Property and Package, with initial lines launched in October 2024 and remaining lines scheduled for early 2025.

Cognizant (NASDAQ:CTSH) has been recognized as one of America's Greenest Companies by Newsweek, ranking among the Top 300 U.S. companies for environmental sustainability. The company has also received multiple awards for its sustainability efforts, including a 2024 International Green Apple Environment Award and two National Awards for Excellence in CSR & Sustainability.

Cognizant is progressing towards its net zero goal of reducing total emissions by 50% by 2030 and 90% by 2040. The company focuses on sourcing renewable electricity, improving energy efficiency, and reducing greenhouse gas emissions across its supply chain. A notable initiative is the chiller retrofit project completed in early 2024, which is expected to save approximately 7.9 million units of energy annually and significantly reduce emissions.

The company's comprehensive approach to achieving net-zero emissions includes renewable energy sourcing, energy efficiency improvements, supplier engagement, optimized business travel, and the use of certified carbon offsets. Cognizant is also leveraging AI solutions and building a climate-competent workforce to support its sustainability goals.

Cognizant (NASDAQ: CTSH) has launched Cognizant Neuro® Cybersecurity, an AI-powered platform designed to enhance enterprise cybersecurity resilience. This new addition to Cognizant's Neuro suite aims to address the challenges of managing multiple security tools and complex threats in the AI era.

Key features of the platform include:

• Aggregation of point solution results
• Unified security management
• Enhanced threat detection and response
• Intuitive interface
• Scalability and flexibility

The platform is designed to provide a holistic view of security threats, vulnerabilities, and risk information, enabling faster decision-making and risk mitigation across enterprises.