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Cognizant Technology Solutions (NASDAQ: CTSH) is a globally renowned professional services company headquartered in Teaneck, New Jersey. Ranked 195 on the Fortune 500 list, Cognizant is celebrated for its innovative approach in transforming clients' business, operating, and technology models to thrive in the digital era. Employing nearly 300,000 people worldwide, with a significant portion situated in India, Cognizant offers comprehensive IT services including consulting and outsourcing to a diverse clientele across finance, healthcare, media, and more.
Recent Achievements and Partnerships:
- In April 2024, Cognizant partnered with McCormick & Company, Inc. to overhaul its global technology infrastructure using AI-powered tools, enhancing service productivity and user experience.
- The company announced its first quarter 2024 financial results, showcasing a robust performance with significant revenue and margin growth, driven by strategic deals and operational efficiencies.
- Cognizant continues to expand its philanthropic efforts through the Synapse program, having awarded $70 million in grants to uplift underrepresented communities and bridge skill gaps globally.
- The company has deepened its collaboration with Microsoft, acquiring 25,000 Microsoft 365 Copilot seats to enhance productivity and integrating AI for business transformation, further solidifying its market position.
- Cognizant also recently announced the acquisition of Belcan, LLC for approximately $1.3 billion, strengthening its ER&D capabilities and expanding its footprint in aerospace and defense sectors.
Financial Condition and Future Outlook:
Cognizant remains financially robust, consistently returning capital to shareholders through dividends and share repurchases. The company’s NextGen program and strategic acquisitions are set to drive future growth and innovation. With a focus on AI, cloud, and digital transformation, Cognizant is positioned to lead in delivering advanced technology solutions and maintaining a competitive edge in the global market.
Cognizant (NASDAQ: CTSH) has entered a multi-year agreement with Organon (NYSE: OGN) to enhance the delivery of healthcare products and improve supply chain management. The partnership involves providing industrial technology support at Organon's manufacturing sites across the UK, Netherlands, Belgium, and Indonesia, utilizing SAP's S4/HANA suite. This collaboration aims to boost manufacturing efficiency, increase medicinal yields, and reduce cycle times, facilitating faster access to vital therapies for women's health.
Cognizant has announced a multi-year agreement with Zurich Beteiligungs-AG, enhancing digital services for Zurich Germany's clients in the General Insurance sector. The partnership aims to modernize and manage Zurich's application landscape, reduce ownership costs, and accelerate the launch of new digital products. With joint DevOps teams, the collaboration will focus on AI, data, and cloud capabilities. Cognizant's expertise in application modernization is expected to drive further digital transformation, building on their existing successful relationship.
Cognizant (Nasdaq: CTSH) will announce its second quarter 2022 earnings results on July 27, 2022, post-market close. Management will hold a conference call at 5:00 p.m. Eastern to discuss the quarter's performance. Domestic participants can dial 877-810-9510, while international callers can reach 201-493-6778. A live broadcast will be available on the Investor Relations website, with replays accessible until August 10, 2022. Investors can expect insights into operations and financial metrics affecting the company's outlook.
Cognizant has been selected as a strategic technology provider by National Insurance Company Limited (NICL) in India to enhance its digital transformation efforts. This multi-year contract includes managing a centralized web-based core insurance solution, incorporating technologies like artificial intelligence, machine learning, and automation. The collaboration aims to improve customer experience in applications, claims processing, and underwriting, while ensuring operational efficiency and compliance.
Cognizant (Nasdaq: CTSH) will present at MoffettNathanson's 4th Annual Payments, Processors, and IT Services Summit on May 12, 2022, at 1:00 PM ET. CEO Brian Humphries will represent the company during the presentation. Investors can listen to the live audio webcast on Cognizant's website, with a replay available for 90 days. Cognizant focuses on modernizing technology and transforming business processes to improve everyday life. For additional information, visit www.cognizant.com.
Cognizant (CTSH) reported Q1 2022 revenue of $4.8 billion, up 9.7% year-over-year, with digital revenue growing 20%. Operating cash flow stood at $306 million, and free cash flow at $186 million. Trailing 12-month bookings reached $23.4 billion, resulting in a book-to-bill ratio of 1.2x. For Q2 2022, revenue is projected between $4.90-$4.94 billion, indicating growth of 6.8%-7.8%. The company declared a quarterly dividend of $0.27 per share, payable on May 31, 2022.
Cognizant (Nasdaq: CTSH) announced it will release its first quarter 2022 earnings on May 4, 2022, after market close. A conference call to discuss the results will be held at 5:00 p.m. Eastern on the same day. Participants can join the call using provided numbers and passcode. A replay will be available for those who cannot attend live. The conference call can also be accessed via Cognizant's Investor Relations website. The company focuses on modernizing technology and transforming business processes.
Cognizant (Nasdaq: CTSH) announced the appointment of Stephen Rohleder to its Board of Directors as an independent director, effective March 2, 2022. Rohleder, with 35 years of experience at Accenture, served as Chief Operating Officer and Group Chief Executive for North America. He also led GTY Technology Holdings as Chairman, CEO, and President. His extensive background in consulting and software industries is expected to enhance Cognizant's digital offerings, aiding clients in modernizing their businesses.
Cognizant (Nasdaq: CTSH) announced its participation in the Morgan Stanley Technology, Media & Telecom Conference scheduled for March 7, 2022, at 1:20 PM ET. CEO Brian Humphries will present at this investor event. Live audio webcasts can be accessed on Cognizant's investor website, with recordings available for 90 days post-event. Cognizant focuses on modernizing technology and transforming business processes to enhance client experiences.
For more details, visit Cognizant's investor page.
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