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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 launched its Neuro® AI Multi-Agent Accelerator and Multi-Agent Service Suite, designed to accelerate AI agent development and adoption for business process transformation. The no-code development framework includes pre-built reference agent networks for various enterprise functions like Sales, Marketing, Finance, and Investor Relations.
The solution offers key features including accelerated agentification through pre-built networks, fast customization using natural language, scalable distributed operations, and flexibility in AI and cloud provider choice. The framework enables businesses to rapidly prototype, customize, and scale multi-agent systems while maintaining security and compliance requirements.
Early implementations have shown success, with an insurance company improving investor relations and call analysis, and a healthcare company speeding up medical appeal processing times through Cognizant's multi-agent solutions.
Cognizant (CTSH) has announced it will release its fourth quarter 2024 earnings on Wednesday, February 5, 2025, after market close. The company will host a conference call at 5:00 p.m. Eastern time to discuss the quarterly performance.
Investors can participate through domestic (877-810-9510) or international (201-493-6778) dial-in numbers. The call will also be available via live webcast on Cognizant's Investor Relations website. A replay will be accessible until February 19, 2025, through both phone dial-in and the company website.
Cognizant (NASDAQ:CTSH) has announced the launch of Stores 360, a comprehensive retail solution developed with ServiceNow. The solution integrates Cognizant Neuro® AI platform and generative AI to transform store operations and enhance customer experiences.
The solution promises significant operational improvements, including:
- 10-20% reduction in new store opening time
- 30-40% cut in store operating expenses
- Up to 98% uptime for store systems
- 10% reduction in truck rolls
Stores 360 comprises three sub-offerings: new store opening, store management, and store asset management. The platform leverages AI for store location recommendations, real-time insights, and efficient field services management, while integrating retailers' ecosystems to promote consistent experiences across all channels.
Cognizant CEO Ravi Kumar S has been awarded the prestigious Pravasi Bharatiya Samman Award, the highest recognition given by the Indian government to overseas Indians. The award was presented by India's President at the Pravasi Bharatiya Divas Convention in Bhubaneswar.
Under Kumar's leadership, Cognizant launched the Synapse initiative in 2024, targeting to train one million people globally in emerging technologies by 2026, with emphasis on AI. The program has already reached over 275,000 individuals and is supported by more than $70 million in philanthropic funds.
Cognizant, with nearly 70% of its 340,000 global workforce based in India, maintains its position as the second-largest multinational employer in India's technology sector. The company operates across multiple Indian cities and focuses on advancing AI-first capabilities, driving innovation, and strengthening India's position as a global digital talent hub.
Cognizant (CTSH) has announced a collaboration with Siemens Digital Industries Software to enhance its software-defined vehicle (SDV) solution accelerator by integrating Siemens' PAVE360™ technology. The enhanced solution, which includes Simcenter™ Prescan for sensor modeling and scenario-based testing, aims to accelerate SDV development cycles through continuous and simulated verification and validation.
The collaboration addresses key industry challenges, including managing over 100 million lines of code, accelerating product development with resources, and meeting increasing demands for customization. The solution is designed to streamline development processes and reduce feature delivery time while handling complex software requirements from various platforms and components.
The partnership will be showcased at CES 2025 by Amol Gulve, Cognizant's SDV offering leader.
Cognizant (NASDAQ: CTSH) has become the first global IT service company to receive accredited ISO/IEC 42001:2023 certification for its artificial intelligence management system. This certification establishes a framework for managing AI risks and opportunities throughout the AI system lifecycle, ensuring responsible development and deployment of AI solutions.
The certification, issued by DNV, validates Cognizant's commitment to ethical AI development and strengthens its position as a trusted digital transformation partner. According to Cognizant and Oxford Economics' study, 76% of businesses plan to leverage AI for new revenue streams, highlighting the growing importance of robust AI governance frameworks.
The certification process involved a comprehensive organizational strategy across marketing, IT, Legal, delivery teams, and customer service to embed responsible AI principles throughout the organization.
Cognizant (NASDAQ: CTSH) has been named to Newsweek's list of America's Greatest Workplaces for Diversity, adding to its numerous accolades in 2024. The company has received multiple recognitions across three key areas:
IT and Client Services Leadership: Named to Fortune Sector Leaders List 2024 and Forbes World's Best Management Consulting Firms 2024.
Workplace Wellbeing: Included in Indeed Work Wellbeing 100 and Forbes World's Best Employers.
Innovation and Societal Impact: Ranked #7 on Fortune Change the World list, featured on TIME World's Best Companies 2024, and recognized by Newsweek as one of America's Greenest Companies 2025, Most Reliable Companies 2025, and Most Responsible Companies 2025. The company was also included in the 50/50 Women on Boards Gender Diversity Directory.
Cognizant (NASDAQ: CTSH) has announced a strategic collaboration with Beyond Bank Australia to transform their digital banking experience. The partnership focuses on modernizing IT infrastructure, enhancing operational resilience, and improving customer service through innovative technology solutions. Key initiatives include upgrading End User Compute teams, automating patching processes, implementing a Security Operations Centre, and strengthening vendor assurance frameworks in compliance with APRA standards.
The transformation encompasses cloud and API architecture modernization, Windows 11 migration, and development of a comprehensive data management strategy leveraging AI. These improvements aim to enable faster product launches and better-tailored services, particularly targeting younger demographics while enhancing overall customer experience.
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.
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