Cognizant Technology Solutions - CTSH STOCK NEWS

Cognizant (CTSH) reported Q3 2022 revenue of $4.9 billion, a 2.4% increase year-over-year, with operating margin rising to 16.4%. Despite fulfilling challenges and a tough macroeconomic landscape, the company remains optimistic about future growth. Free cash flow was $953 million and significant shareholder returns included $1.5 billion in buybacks and dividends year-to-date. The outlook for Q4 revenue is projected between $4.72 billion and $4.77 billion, reflecting slight declines but positive growth in constant currency.

Cognizant (NASDAQ: CTSH) announced an agreement to acquire the professional services and application management practices of OneSource Virtual, a Workday partner based in Dallas, Texas. This acquisition aims to enhance Cognizant’s existing finance and HR advisory services, expanding its capabilities in consulting, deployment, and post-deployment support across North America and the UK. Cognizant will gain nearly 400 employees, boosting its expertise in Workday implementation. The acquisition is expected to close by year-end 2022, subject to conditions, though financial details were not disclosed.

Cognizant and Qualcomm have announced the opening of a new 5G Experience Center in Atlanta aimed at accelerating digital transformation across various industries. This center will leverage Cognizant's expertise in IoT, cloud, and data analytics alongside Qualcomm's 5G connectivity solutions to support enterprises. The center will focus on showcasing use cases in manufacturing and supply chain management, facilitating advanced solutions like autonomous mobile robots and enhanced video analytics to improve operational efficiencies.

Botminds Inc. is set to host its inaugural partnership conference, Fusion 2022, on 09 November 2022. This virtual event will gather leaders from the Intelligent Automation and Intelligent Document Processing sectors to share insights and case studies. Key speakers include executives from Microsoft and Cognizant, discussing the impact of Botminds AI on business challenges. The conference aims to strengthen the Botminds partner ecosystem and promote best practices in automation.

Cognizant (Nasdaq: CTSH) will announce its third-quarter 2022 earnings on November 2, 2022, after market close. Following this, management will hold a conference call at 5:00 p.m. (Eastern) to discuss the company's operating performance. Interested participants can dial in at 877-810-9510 for domestic and 201-493-6778 for international calls. A replay will be available until November 16, 2022. More details can be found on the Cognizant Investor Relations website.

Cognizant has strengthened its partnership with Centrica, the UK's largest energy services provider, to enhance IT infrastructure management and application testing. This extended engagement aims to deliver flexible and efficient services for Centrica's ten million customers. Cognizant will provide a mix of application management and cloud support, improving the performance of IT systems and consumer applications. This collaboration follows a long-standing relationship that dates back to 2005, focusing on digital transformation and infrastructure security.

Stitch, a digital consultancy focused on Twilio and Segment, has launched to provide marketers with customized solutions leveraging Twilio's Customer Engagement Platform. Co-founded by Michael Burton, previously CEO of Lev, Stitch aims to become the premier Twilio consultancy, assisting clients in optimizing customer experiences through data-driven strategies and support services. The firm is backed by High Alpha and is recognized as a Segment Select Partner and Twilio Build Partner, positioning itself to capitalize on the growing demand for innovative marketing technology.

Cognizant has been selected by Freshfields Bruckhaus Deringer to manage their IT operations under a multi-year agreement. The partnership will enhance Freshfields' IT infrastructure, enabling 24x7 managed services and improved client service. Cognizant will also develop a technology transformation roadmap for Freshfields, aiming to boost flexibility, investment, and innovation within their business. This collaboration highlights Cognizant's role as a leader in digital transformation for major companies, underscoring their scalability and expertise.