Cognizant Technology Solutions - CTSH STOCK NEWS

Cognizant (NASDAQ:CTSH) and Zscaler are expanding their partnership to enhance enterprise security through AI-enabled zero trust cloud security solutions. The collaboration aims to address evolving cyber threats and simplify security posture for enterprises across industries. Key aspects of the partnership include:

- Secured Access Service Edge (SASE) for accelerating zero trust security
- Secure Branch architecture for compliant data management
- Secure Hybrid Cloud for enhanced visibility and simplified policy management

As part of the expansion, Cognizant will become a Zscaler customer while offering coordinated solutions designed to reduce security complexity and maximize security posture for clients.

Cognizant (Nasdaq: CTSH) has announced its participation in the upcoming Nasdaq Investor Conference. The company's Chief Executive Officer, Ravi Kumar S, will deliver a presentation on Wednesday, December 11, 2024, at 1:00 PM UK time (8:00 AM EST).

The presentation will be accessible through a live audio webcast on Cognizant's investor relations website. For those unable to attend the live session, a replay will remain available on the company's website for 90 days following the event.

Cognizant (NASDAQ: CTSH) has renewed its multi-year collaboration with Savvas Learning Company, extending their partnership that began in 2019. The agreement focuses on optimizing back-office IT operations for the K-12 learning solutions provider. Cognizant Flowsource™️, a new software engineering platform, will be implemented to enhance platform engineering capabilities, improve efficiencies, and drive automation. The collaboration aims to ensure efficient order management and timely delivery of services to Savvas' customer base, supporting its mission of delivering innovative instructional materials to educators and students.

Cognizant (NASDAQ: CTSH) and IBM have announced the launch of a new FinOps Center of Excellence (CoE), combining IBM's FinOps software with Cognizant's cloud and developer platforms. The collaboration includes extensions of Cognizant's Skygrade™ and Flowsource™ platforms, integrated with IBM's Apptio, Turbonomic, watsonx.governance, and watsonx Code Assistant for Z. The initiative focuses on three key areas: mainframe modernization, FinOps for cloud cost management, and AI governance, aiming to help enterprises manage complexity, modernize legacy applications, and implement AI solutions at scale.

Cognizant (CTSH) reported Q3 2024 financial results with revenue of $5.0 billion, showing a 3.0% year-over-year increase. The company achieved a 14.6% operating margin and an adjusted operating margin of 15.3%. Key highlights include strong performance in Health Sciences (up 7.8% YoY) and Financial Services (up 0.7% YoY). The company secured six deals worth over $100 million each in Q3, bringing the year-to-date total to nineteen. Trailing 12-month bookings reached $26.2 billion with a book-to-bill ratio of 1.3x. Full-year 2024 guidance projects revenue growth of 1.4% to 1.9% in constant currency.

Cognizant (NASDAQ: CTSH) announced that its global skilling initiative, Synapse, has reached over 275,000 people in its first year since launching in October 2023. The program aims to provide technology job training to one million people worldwide by 2026. The initiative focuses on five key areas: Skills Accelerator, Technology Partnerships, Apprenticeships, Community Education, and Employee Skilling. Notable achievements include training 195,000 associates in Gen AI skills, registering 600+ apprentices, and committing nearly $13 million in community grants. The program addresses the growing need for AI capabilities, as only 35% of organizations rate their skills and talent as mature according to Cognizant's New Work New World study.

Cognizant (CTSH) has announced a new IT Managed Services partnership with Alnylam Pharmaceuticals, a leading RNAi therapeutics company. As the primary IT services provider, Cognizant will manage Alnylam's global infrastructure, operations, cloud, security, platforms, applications, and advanced data analytics. The collaboration aims to enhance automation, reduce operational efforts, and improve business decision transparency using Cognizant's managed services frameworks and tools. This partnership leverages Cognizant's experience working with 30 top global pharmaceutical companies to implement and manage advanced technology solutions.

Cognizant (NASDAQ:CTSH) has secured the 10th position on Newsweek's America's Most Reliable Companies 2025 list. The recognition stems from an independent survey of over 1,700 B2B decision-makers nationwide, evaluating companies based on recommendation likelihood, business ease, value for money, deliverable consistency, and dependability reputation.

The ranking, presented in collaboration with Statista, selected the top 300 most reliable companies in America. This achievement follows Cognizant's recent recognition in TIME Magazine's World's Best Companies 2024 list, highlighting the company's role in driving innovation and making a global impact.

Cognizant (NASDAQ: CTSH) is enhancing its data modernization offering by integrating NVIDIA RAPIDS and the Cognizant® Data and Intelligence Toolkit to address enterprise cloud computing cost challenges. The collaboration aims to optimize cloud expenditures and enhance performance through GPU-based infrastructure.

Proprietary benchmarks demonstrate a 2.5x acceleration in data engineering and data science workloads, alongside a 66% reduction in computing costs compared to CPU-processing. The solution is expected to achieve 50-80% automation in cloud modernization processes, helping businesses accelerate data processing capabilities while optimizing costs.