Cognizant Technology Solutions - CTSH STOCK NEWS

Cognizant (NASDAQ: CTSH) has been named to Newsweek's list of America's Greatest Workplaces for Diversity, adding to its numerous accolades in 2024. The company has received multiple recognitions across three key areas:

IT and Client Services Leadership: Named to Fortune Sector Leaders List 2024 and Forbes World's Best Management Consulting Firms 2024.

Workplace Wellbeing: Included in Indeed Work Wellbeing 100 and Forbes World's Best Employers.

Innovation and Societal Impact: Ranked #7 on Fortune Change the World list, featured on TIME World's Best Companies 2024, and recognized by Newsweek as one of America's Greenest Companies 2025, Most Reliable Companies 2025, and Most Responsible Companies 2025. The company was also included in the 50/50 Women on Boards Gender Diversity Directory.

Cognizant (NASDAQ: CTSH) has announced a strategic collaboration with Beyond Bank Australia to transform their digital banking experience. The partnership focuses on modernizing IT infrastructure, enhancing operational resilience, and improving customer service through innovative technology solutions. Key initiatives include upgrading End User Compute teams, automating patching processes, implementing a Security Operations Centre, and strengthening vendor assurance frameworks in compliance with APRA standards.

The transformation encompasses cloud and API architecture modernization, Windows 11 migration, and development of a comprehensive data management strategy leveraging AI. These improvements aim to enable faster product launches and better-tailored services, particularly targeting younger demographics while enhancing overall customer experience.

Cognizant (NASDAQ:CTSH) and Zscaler are expanding their partnership to enhance enterprise security through AI-enabled zero trust cloud security solutions. The collaboration aims to address evolving cyber threats and simplify security posture for enterprises across industries. Key aspects of the partnership include:

- Secured Access Service Edge (SASE) for accelerating zero trust security
- Secure Branch architecture for compliant data management
- Secure Hybrid Cloud for enhanced visibility and simplified policy management

As part of the expansion, Cognizant will become a Zscaler customer while offering coordinated solutions designed to reduce security complexity and maximize security posture for clients.

Cognizant (Nasdaq: CTSH) has announced its participation in the upcoming Nasdaq Investor Conference. The company's Chief Executive Officer, Ravi Kumar S, will deliver a presentation on Wednesday, December 11, 2024, at 1:00 PM UK time (8:00 AM EST).

The presentation will be accessible through a live audio webcast on Cognizant's investor relations website. For those unable to attend the live session, a replay will remain available on the company's website for 90 days following the event.

Cognizant (NASDAQ: CTSH) has renewed its multi-year collaboration with Savvas Learning Company, extending their partnership that began in 2019. The agreement focuses on optimizing back-office IT operations for the K-12 learning solutions provider. Cognizant Flowsource™️, a new software engineering platform, will be implemented to enhance platform engineering capabilities, improve efficiencies, and drive automation. The collaboration aims to ensure efficient order management and timely delivery of services to Savvas' customer base, supporting its mission of delivering innovative instructional materials to educators and students.

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.