Cognizant Technology Solutions - CTSH STOCK NEWS

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%.

Cognizant (Nasdaq: CTSH) has partnered with Cabot Corporation (NYSE: CBT) to revamp Cabot's digital operating model. This collaboration will see Cognizant providing managed services in Application Development, Maintenance, and Infrastructure. The initiative aims to enhance Cabot's efficiency and drive its digital strategy, utilizing technologies such as AI, automation, and cloud services. Cabot’s Vice President emphasized Cognizant's strong reputation and capability in delivering transformational programs, which are essential for achieving their strategic growth goals.

Cognizant (Nasdaq: CTSH) has announced a commitment to achieve net zero emissions by 2030, reflecting its dedication to sustainable practices. The company aims to reduce emissions by 50% from its global operations and supply chain by 2030 and by 90% by 2040. Remaining emissions will be offset through carbon credits. Initiatives include developing science-based targets, investing in renewable energy, and enhancing energy efficiency. Cognizant is also focused on helping clients reduce their carbon footprints by leveraging technologies like AI and IoT.

Cognizant (Nasdaq: CTSH) announced its third quarter 2021 earnings release set for October 27, 2021, after market close. Management will host a conference call at 5:00 p.m. Eastern to discuss performance. A virtual Investor Briefing will occur on November 18, 2021, featuring insights on strategy and financial outlook from CEO Brian Humphries and CFO Jan Siegmund. Call details and live streaming are available on Cognizant's Investor Relations website, ensuring accessibility for stakeholders.

Cognizant (Nasdaq: CTSH) has acquired the digital engineering assets of Hunter Technical Resources, a project management agency based in Atlanta, Georgia. This acquisition enhances Cognizant's digital engineering resources and expands its talent network in the U.S. Hunter specializes in full stack development, machine learning, DevOps, and data science. This is Cognizant's sixth acquisition in 2021 and its third in digital engineering, aiming to strengthen its position in high-demand tech fields and support clients' digital transformation efforts.

Cognizant (CTSH) reported strong second quarter 2021 results, with revenue of $4.6 billion, up from $4.0 billion in Q2 2020. GAAP diluted EPS increased to $0.97 from $0.67. Key business segments showed growth: Financial Services by 7.6%, Healthcare by 14.5%, Products and Resources by 21.7%, and Communications, Media, and Technology by 21.2%. The company plans to return capital to shareholders with a $0.24 dividend and $296 million in share repurchases. For Q3, revenue is expected to be between $4.69-$4.74 billion, projecting full-year growth of 10.2-11.2%.