Cognizant Technology Solutions - CTSH STOCK NEWS

Cognizant (NASDAQ: CTSH) announced a 7-year agreement with Horizon Healthcare Services to provide support for its government healthcare programs, managing claims, encounters, and enrollment for over 1.2 million Medicaid members. Leveraging its TriZetto healthcare products, Cognizant aims to enhance efficiency and accuracy in claims processing. This partnership builds on their existing relationship since 2016, during which Cognizant helped Horizon grow its membership from 850,000 to 1.2 million. The collaboration is poised to improve operational compliance and enhance Horizon's position in New Jersey's Medicaid market, where over half of the state's Medicaid recipients are enrolled with Horizon. Cognizant's TriZetto products facilitate over 2.6 billion transactions annually, supporting more than 347,000 healthcare providers.

Cognizant (Nasdaq: CTSH) and Guidewire (NYSE: GWRE) have partnered to modernize claims operations for FCCI Insurance Group, aiming to enhance efficiency in claims processing. This collaboration involves migrating FCCI to Guidewire Cloud, allowing for quicker claims management across various business lines. FCCI anticipates reduced processing times and costs, with improved customer experiences as agents can focus more on service. Cognizant's expertise in cloud migration and Guidewire products is significant, as they help insurers leverage data analytics and machine learning for informed decision-making. FCCI, which operates across 20 states, has over $1 billion in direct written premiums and is rated A (Excellent) by A.M. Best Company.

Cognizant (Nasdaq: CTSH), a leader in IT consulting and business services, will announce its Q1 2023 earnings on May 3, 2023, after the market closes. Following the announcement, management will host a conference call at 5:00 p.m. Eastern to discuss the earnings report. Interested participants can dial in using the numbers provided or access the call via the Investor Relations section of Cognizant's website. A replay will be available after the call until May 17, 2023. For 60 days post-call, the replay can also be accessed on the company's website.

Cognizant (NASDAQ: CTSH) has been recognized as a leader in Capital Markets Operations by Everest Group in a report evaluating 23 service providers based on client feedback and technology capabilities.

The recognition is attributed to Cognizant's balanced portfolio, innovative technologies, and strong analytics capabilities, supported by over 6,000 associates focused on capital markets.

Key areas of strength include automated trade processes, offshore delivery centers, and partnerships enhancing service offerings. Cognizant's consulting services aid clients in navigating financial sector challenges, such as the recent inflationary environment and regulatory changes.

These accolades underline Cognizant's commitment to improving operational efficiencies and client experience in capital markets.

Cognizant (NASDAQ: CTSH) and Boehringer Ingelheim are collaborating to enhance the speed and quality of medicinal therapy development through a unified technology platform. This initiative leverages the Veeva Development Cloud, aiming to connect clinical, regulatory, and quality functions for improved operational efficiency. Dubbed the One Medicine Platform, it is expected to be among the largest global implementations of Veeva technology. Cognizant's role includes program management, system architecture, training, and integration services. This collaboration reflects Boehringer Ingelheim's commitment to innovation in the biopharmaceutical sector.

Cognizant (NASDAQ: CTSH) is expanding its collaboration with Microsoft to enhance healthcare technology solutions, focusing on interoperability and streamlined claims management. This partnership aims to integrate Cognizant's TriZetto healthcare products with Microsoft Cloud for Healthcare, facilitating easier access to advanced technology for payers and providers. The initiative seeks to empower healthcare organizations to improve patient and member experiences by providing transparency in healthcare data and cost assessments. With 347K+ healthcare providers and 8K+ payers using TriZetto, this integration is expected to unlock growth, new revenue streams, and operational efficiency in a rapidly evolving healthcare landscape.

Cognizant (NASDAQ: CTSH) has been recognized as a Leader in healthcare cloud-based core administration by the Everest Group in their 2023 report. This assessment evaluated 14 IT healthcare service providers, with Cognizant's TriZetto practice highlighted for its extensive service portfolio, strong technical capabilities, and positive client feedback. Key findings include advancements in claims processing and policy administration, with Cognizant's technology solutions improving auto adjudication rates significantly. The company aims to enhance healthcare administration efficiency and consumer care through ongoing investments and partnerships.

Cognizant (Nasdaq: CTSH) announced the appointment of Abraham ('Bram') Schot as an independent director, effective April 3, 2023. With over 30 years of experience in the automotive industry, including leadership roles at Volkswagen AG and Audi Group, Schot brings significant operational and technological expertise. His appointment increases the Board to 14 members, with 13 being independent. Cognizant aims to enhance its governance structure as half of its directors have been appointed in the last four years, focusing on innovation and customer-centric strategies to boost growth.

Cognizant (Nasdaq: CTSH) has been selected by Volkswagen Group Ireland to transform its digital customer service landscape. The initiative involves re-engineering VWG Ireland's contact center into an omni-channel customer experience platform using Salesforce Service Cloud Voice and Amazon Connect. This modernization aims to unify customer service operations, reduce maintenance costs, and enhance efficiency. Cognizant will provide advanced insights into customer journeys to improve reporting and decision-making. This partnership marks a significant step in helping VWG Ireland meet evolving customer expectations in a rapidly changing automotive sector.