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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 established a new Google Business Group (GBG) to enhance cloud modernization for shared customers. This initiative strengthens their alliance with Google Cloud, enabling comprehensive service offerings including consulting, implementation, and migration services. Cognizant's team of Google Cloud-certified experts aims to transform business operations in sectors like retail, healthcare, and financial services. The collaboration focuses on developing agile infrastructures that capitalize on cloud technology to improve customer experiences and facilitate data-driven insights.
Cognizant (Nasdaq: CTSH) has renewed its partnership with Aker Solutions to enhance its IT infrastructure and digital solutions over the next five years. This collaboration aims to modernize Aker's business technology network, leading to improved productivity and reduced operational costs. Cognizant's agile support will expedite project delivery, focusing on energy production and sustainable practices. Aker Solutions seeks to tackle increasing demand while minimizing environmental impact, and Cognizant’s investment in digital technologies positions it as a key partner in this transition.
Cognizant (Nasdaq: CTSH) has advanced to 185th position in the 2021 Fortune 500, reflecting a climb from 194th in 2020. The company's 2020 revenues totaled $16.7 billion, enabling this jump. Since its debut on the list in 2011, Cognizant has consistently progressed, reaching the top 200 in 2018. CEO Brian Humphries praised associates for their commitment during the COVID-19 pandemic and anticipates stronger future positioning. The Fortune 500 ranks companies based on their total revenues for the fiscal year.
Cognizant (Nasdaq: CTSH) has been chosen by Centrica as the exclusive technology services partner to manage and transform its SAP environment for UK operations. This partnership aims to enhance operational efficiency and user experience for Centrica, impacting over 10 million customers. The multiyear engagement, based on a long-term relationship, will employ Cognizant's expertise in DevSecOps to consolidate Centrica's SAP systems, facilitating quick adaptations to market changes while improving customer service.
Cognizant (Nasdaq: CTSH) announced its participation in upcoming investor conferences. Jan Siegmund, CFO, will present at MoffettNathanson's 3rd Annual Payments Processors and IT Services Summit on May 11, 2021, at 3:00 PM ET. Brian Humphries, CEO, will speak at the J.P. Morgan 49th Global Technology, Media and Communications Conference on May 25, 2021, at 3:30 PM ET. Live audio webcasts will be available on Cognizant’s website, with replays accessible for 90 days.
Cognizant is a top professional services company, specializing in digital transformation solutions.
Cognizant (Nasdaq: CTSH) reported Q1 2021 revenue of $4.4 billion, up from $4.2 billion in Q1 2020, with a GAAP operating margin of 15.2%. The company experienced growth in Healthcare (+7.9%) and Products and Resources (+4.6%), while Financial Services saw flat growth due to legacy system optimizations. Cognizant announced a quarterly cash dividend of $0.24 per share and repurchased 3.1 million shares for $234 million. The outlook for Q2 expects revenue between $4.42-$4.46 billion, reflecting an anticipated growth of 10.5-11.5%.
Cognizant (Nasdaq: CTSH) will announce its first quarter 2021 earnings on May 5, 2021, after the market closes. Management will host a conference call at 5:00 p.m. Eastern to discuss the results. Domestic callers can dial 877-810-9510 and international callers 201-493-6778, using the passcode 'Cognizant Call'. A live stream will be available on their Investor Relations website. A replay will be accessible until May 19, 2021 via designated phone numbers and will also be available online for 60 days.
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