Welcome to our dedicated page for Cognizant Technology Solutions news (Ticker: CTSH), a resource for investors and traders seeking the latest updates and insights on Cognizant Technology Solutions stock.
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) 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%.
Cognizant (Nasdaq: CTSH) announced its acquisition of TQS Integration, a global industrial data and intelligence company based in Ireland, on July 20, 2021. This acquisition aims to enhance Cognizant's capabilities in smart manufacturing, particularly for life sciences clients, by leveraging TQS's data intelligence and consulting services. By combining their strengths, Cognizant plans to accelerate clients' transitions to Industry 4.0, improving operational efficiency and product quality. The deal is expected to close in Q3 2021, but financial details remain undisclosed.
Cognizant (Nasdaq: CTSH) will announce its second quarter 2021 earnings on July 28, 2021, after market close. The company will hold a conference call at 5:00 p.m. Eastern the same day to discuss the results. Domestic callers can join by dialing 877-810-9510 and international callers can dial 201-493-6778. A replay of the call will be available until August 11, 2021. Cognizant is a leading provider of information technology and consulting services, ranked 185 on the Fortune 500.
Royal Philips (NYSE: PHG) and Cognizant (Nasdaq: CTSH) announced a collaboration on July 8, 2021, to develop comprehensive digital health solutions. This alliance combines Philips HealthSuite, a cloud-based platform, with Cognizant's digital engineering expertise to enhance patient care and accelerate clinical trials. The partnership aims to improve healthcare delivery through advanced data analytics and connectivity, facilitating remote patient monitoring and enhancing clinical trial efficiency. The initiative supports life sciences companies in making data-driven decisions faster.
Guidewire Software (GWRE) announced Cognizant as the first partner to achieve the Guidewire InsuranceNow specialization. This award recognizes Cognizant's exemplary skills and commitment in supporting InsuranceNow deployments, enabling enhanced service for their insurance clients. Cognizant aims to provide mid-tier insurers with digital platforms that improve speed, operational efficiency, and innovation. The InsuranceNow platform is designed for regional insurers, allowing for rapid implementations and regular upgrades.
FAQ
What is the current stock price of Cognizant Technology Solutions (CTSH)?
What is the market cap of Cognizant Technology Solutions (CTSH)?
What services does Cognizant offer?
Where is Cognizant headquartered?
How many employees does Cognizant have?
What was Cognizant’s recent major partnership?
What are Cognizant’s financial highlights for Q1 2024?
How is Cognizant contributing to community development?
What is the significance of Cognizant’s acquisition of Belcan?
How does Cognizant support client digital transformation?
What is Cognizant’s NextGen program?
How does Cognizant ensure responsible AI implementation?
