Cognizant Technology Solutions - CTSH STOCK NEWS

Cognizant (Nasdaq: CTSH) has renewed its contract with Volvo Cars for finance and accounting (F&A) and procurement services for a three-year term. The agreement aims to streamline global accounts payable, receivable, and logistics, enhancing efficiency through Intelligent Process Automation (IPA). Cognizant will implement best practices in invoice processing and customer support, contributing to cost reductions and improved business outcomes. Since 2011, Cognizant has partnered with Volvo, and this renewal reflects its commitment to advancing Volvo's digital transformation.

Cognizant (Nasdaq: CTSH) reported strong financial results for Q4 and FY 2021, showcasing revenue growth of 14.2% year-over-year in Q4, reaching $4.8 billion. Full-year revenue hit $18.5 billion, up 10.8% from the previous year. Adjusted diluted EPS increased to $1.10 for Q4 and $4.12 for FY 2021. The company anticipates a revenue forecast of $20.0-$20.5 billion for FY 2022, implying steady growth. Additionally, Cognizant announced a 12% dividend increase, emphasizing a robust capital strategy.

DJE Holdings, Inc. announced the acquisition of Mustache LLC, a Brooklyn-based content agency, expected to close by February 2022. Mustache will enhance DJE's Strategic Sector Agencies (SSAs) portfolio, which includes brands like Revere and Salutem. Mustache, previously under Cognizant (Nasdaq: CTSH), will retain its branding while continuing to serve clients such as Netflix. The acquisition aims to boost creative and digital capacities, leveraging Mustache's expertise to meet increasing content demands across DJE's client base.

Cognizant (Nasdaq: CTSH) will announce its fourth-quarter 2021 results on February 2, 2022, after market close. Following the announcement, a conference call will be held at 5:00 p.m. Eastern for discussing operational performance. Domestic participants can join by calling 877-810-9510, while international callers should dial 201-493-6778. The call will also be accessible live on the company's Investor Relations website. For those unable to attend, a replay will be available until February 16, 2022.

Uptake has partnered with Cognizant (Nasdaq: CTSH) to enhance data management in the energy and utilities sectors. The collaboration integrates Uptake Fusion with Cognizant's consulting and application services, providing advanced analytics and asset performance management. This joint effort aims to optimize operational technologies, enabling companies to efficiently utilize their existing data for better insights. By facilitating connections to crucial operational technology systems, this partnership seeks to accelerate the adoption of Industrial AI.

Cognizant (Nasdaq: CTSH) has been recognized as a leading provider of healthcare automation solutions by Everest Group in its 2022 Intelligent Automation in Healthcare PEAK Matrix® Assessment. This acknowledgment highlights Cognizant's robust partnership ecosystem and strategic investments in Robotic Process Automation, AI, and cloud-based platforms, which enhance operational efficiency and patient care. The company's notable clients include UiPath and Philips HealthSuite, with innovative offerings like the Cognizant Neuro platform strengthening its market position.

Cognizant (Nasdaq: CTSH) announced on December 7, 2021, its agreement to acquire Devbridge, a software consultancy based in Chicago. This acquisition boosts Cognizant's engineering capabilities by integrating over 600 professionals across multiple countries including Lithuania, Poland, and the United States. The deal is designed to enhance Cognizant’s software product development, aligning with market demand for agile and collaborative software solutions. The transaction is expected to close by the end of 2021, although financial details were not disclosed.

Cognizant (Nasdaq: CTSH) held a virtual Investor Briefing on Nov. 18, 2021, unveiling its growth strategy and financial targets for 2022-2024. CEO Brian Humphries emphasized the company's focus on digital services, international scaling, and enhancing client relevance. Cognizant aims for a revenue growth of 8% to 11% annually and plans to deploy free cash flow with 50% for acquisitions, 25% for share repurchases, and 25% for dividends. The briefing indicates a commitment to sustaining revenue growth and operational efficiency.

Cognizant (Nasdaq: CTSH) reported Q3 2021 revenue of $4.7 billion, up from $4.2 billion in Q3 2020. GAAP diluted EPS reached $1.03, increasing from $0.64 year-over-year. Key sectors like Financial Services and Healthcare reported growths of 5.1% and 10.0% respectively. The company repurchased 1.3 million shares for $100 million and declared a $0.24 quarterly cash dividend. For Q4, revenue guidance is set between $4.75-$4.79 billion, indicating growth of 13.5%-14.5%.