Cognizant Technology Solutions - CTSH STOCK NEWS

Cognizant has partnered with Orica to implement a digital platform for real-time monitoring and forecasting of greenhouse gas emissions as part of Orica's Net Zero strategy. This initiative supports Orica’s AUD 37 million (USD 27 million) Kooragang Island Decarbonization Project, aiming to achieve a cumulative reduction of 4.7 million tonnes of CO₂e by 2030. Leveraging Orica's Microsoft Azure data lake, the platform will consolidate emissions data to enhance reporting and compliance. Both companies emphasize the growing need for sustainability in the resources industry, highlighting their commitment to reducing carbon footprints.

Cognizant (NASDAQ: CTSH) received recognition as a technology leader in Q4 2022 by independent analyst firms across multiple sectors, including banking, insurance, and healthcare. In total, Cognizant was highlighted in 17 reports, showcasing its strengths in partnerships with firms like Workday and Guidewire, along with advanced solutions in automation and cloud technology. In 2022, Cognizant was named a leader in 53 different reports. Gaurav Chand, EVP, noted the company's commitment to delivering transformative solutions, underscoring its role in helping clients modernize their operations and embrace digital transformation.

Cognizant (Nasdaq: CTSH) announced the appointment of Eric Branderiz as an independent director effective February 21, 2023, expanding its Board from 11 to 12 members. Branderiz brings over 26 years of experience in finance and C-suite roles in the energy and technology sectors, including prior positions at Enphase Energy and Tesla. In conjunction with this appointment, Maureen Breakiron-Evans will not stand for re-election at the upcoming 2023 Annual Meeting. The Board aims to optimize its composition to drive growth and shareholder value, reflecting ongoing refreshment efforts with five new independent directors appointed in the last four years.

Cognizant (CTSH) reported Q4 2022 revenue of $4.8 billion, a 1.3% increase year-over-year, with full-year revenue reaching $19.4 billion, up 5%. Operating cash flow for the year was $2.6 billion, while free cash flow stood at $2.2 billion. Shareholders benefitted from $2 billion returned through dividends and repurchases. A cash dividend of $0.29 per share was announced for Q1 2023, reflecting a 7% increase. Guidance for Q1 2023 projects revenue decline of 1.5% to 2.5%. A $59 million impairment related to a health sciences contract negatively impacted margins and EPS. The company appointed Eric Branderiz as an independent director.

NICE and Cognizant have launched a strategic partnership aimed at enhancing customer experience (CX) transformation through integrated cloud solutions. This collaboration combines Cognizant's expertise in business transformation with NICE CXone's advanced CX platform, facilitating the adoption of digital and AI-driven solutions for organizations. The partnership is expected to create significant growth opportunities within their customer bases, focusing on improving customer and agent experiences via a unified CCaaS suite. Previous collaborations have successfully reduced wait times and accelerated platform deployments.

Cognizant (NASDAQ: CTSH) has signed a new 10-year services agreement valued at approximately $1 billion with CoreLogic, enhancing their longstanding partnership. This agreement aims to leverage Cognizant's digital transformation expertise, focusing on cloud migration, automation, and platform innovations that will lower technology costs for CoreLogic. The collaboration seeks to improve customer experience and operational efficiency within the real estate sector. Since 2011, Cognizant has provided application development, analytical modeling, and business process services to CoreLogic, reinforcing their strategic relationship.

Cognizant has announced an agreement to acquire Mobica, a Manchester-based IoT software engineering services provider. This acquisition, expected to close in February 2023, will enhance Cognizant's embedded software engineering capabilities in the technology and automotive sectors, adding nearly 900 employees, including 550 engineers in Poland. Recognized for its expertise in digital transformation, Mobica's integration will help Cognizant tap into a growing market projected to reach $164 billion by 2026. Financial details were not disclosed, but the move aims to strengthen Cognizant's offerings and competitive edge in enterprise digital transformation.

Hansen Technologies (ASX: HSN) has announced a global collaboration with Cognizant (Nasdaq: CTSH) to develop a digital services marketplace solution. This partnership aims to enhance services for communications service providers (CSPs) utilizing Hansen's software suite. Together, they plan to leverage the rising demand for 5G and IoT, facilitating B2B2X use cases across various sectors including healthcare and finance. With the new digital marketplace, CSPs can offer unique market solutions by integrating their core services with partner offerings. The initiative reflects a strategic move towards monetizing emerging revenue streams driven by technological advancements.

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.