Cognizant Technology Solutions - CTSH STOCK NEWS

Cognizant (Nasdaq: CTSH) has scheduled its fourth-quarter 2022 earnings release for February 2, 2023, after the market closes. Following the earnings announcement, management will host a conference call at 5:00 p.m. Eastern to discuss the quarter's operating performance. Interested parties can join the call via phone or stream it live on the company's Investor Relations website. Recordings of the call will be available for replay for up to two weeks post-call. This earnings report is crucial for investors, as it could signal future performance and strategic directions.

Cognizant (Nasdaq: CTSH) has appointed Ravi Kumar S as its new CEO, effective immediately, succeeding Brian Humphries, who will serve as a special advisor until March 15, 2023. Kumar, with over 20 years of experience in technology consulting, previously held the role of President at Infosys. Concurrently, Stephen J. Rohleder has been elected as Chair of the Board. Cognizant also updated its 2022 revenue guidance to approximately $4.8 billion for Q4 and $19.4 billion for the full year, reflecting modest growth and an adjusted operating margin of about 15.3%.

Syniti and Cognizant have established a strategic alliance to enhance data transformation for customers migrating to SAP S/4HANA. This partnership will leverage Syniti's Knowledge Platform (SKP), streamlining data migration processes. According to IDC, organizations utilizing Syniti's solutions can expect a 46% faster migration, with a projected 314% ROI over three years, equating to an annual benefit of $4.16 million. This collaboration aims to reduce complexities in data migration, enabling clients to realize business value more effectively.

Harris Williams is advising Utegration on its sale to Cognizant (NASDAQ: CTSH). Utegration specializes in SAP consulting for the utilities and energy sectors, boasting strong customer ties in North America. This strategic acquisition aims to enhance Cognizant's capabilities in providing software and services related to SAP and includes Utegration's industry expertise and technology solutions. RLH Equity Partners, Utegration's parent, focuses on high-growth enterprises, especially in technology and consulting services, demonstrating the ongoing investor interest in the utility sector's modernization.

Cognizant (Nasdaq: CTSH) announced a commitment of $5.3 million to support 14 organizations in the U.S. and Canada, aimed at enhancing STEM education and expanding career pathways in technology. This funding aligns with Cognizant's goal to leverage technology for community improvement and promote diversity in tech careers. The initiative is part of Cognizant's ongoing efforts, which include a $250 million global corporate social responsibility initiative launched in 2021, helping over 70 organizations since 2018 to foster economic mobility and educational opportunities.

Cognizant (Nasdaq: CTSH) announced the acquisition of Utegration LLC, a Houston-based consulting firm specializing in SAP technology for energy and utilities. The deal aims to enhance Cognizant's SAP capabilities and broaden its intellectual property portfolio. The acquisition is expected to close by year-end 2022 and will add approximately 350 employees. Utegration serves over 50 clients in North America and focuses on key areas such as customer experience and data analytics. This acquisition aligns with a forecasted growth in IT spending in the power and utilities market, expected to reach $175 billion.

Cognizant (Nasdaq: CTSH) announced its participation in the UBS Global TMT Conference on December 7, 2022, at 8:20 AM ET. CEO Brian Humphries will present at the event. Live audio webcasts will be available on Cognizant's investor website, with replays accessible for 90 days post-event. Cognizant specializes in modernizing technology and transforming business processes, enhancing customer experiences to foster growth.

Cognizant (NASDAQ: CTSH) announced its agreement to acquire AustinCSI, a consultancy focused on enterprise cloud and data analytics advisory services. This acquisition aims to enhance Cognizant's consulting capabilities, leveraging AustinCSI's expertise to meet increasing client demand for digital transformation. With over 175 consultants, AustinCSI specializes in optimizing business outcomes across industries like telecommunications and automotive. The deal is expected to close in Q4 2022 and supports Cognizant's strategy of expanding its advisory services in technology areas such as AI, cloud, and IoT.

Cognizant (NASDAQ: CTSH) has been recognized as a Leader in the Life Sciences Digital Services Peak Matrix® Assessment 2022 by Everest Group. This accolade emphasizes Cognizant's domain expertise and expanding portfolio in life sciences, particularly in medical device enhancements and clinical trials. The assessment reviewed 31 global digital providers, highlighting Cognizant's partnerships with notable firms like Philips and Medidata, alongside its strategic acquisitions such as TQS and Zenith. The company's innovative solutions like OneCare and Neuro are also acknowledged for meeting industry needs.