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) announced its participation in the Goldman Sachs Technology and Internet Conference 2021. The event will be held on February 11, 2021, at 10:30 AM ET, with CEO Brian Humphries as the presenter. Live audio webcasts will be available on Cognizant's investor website, and the replay will remain accessible for 90 days post-event. Cognizant is recognized as a leading professional services company, dedicated to transforming clients' business models for the digital era.
Cognizant (Nasdaq: CTSH) reported its Q4 2020 results with revenues of $4.2 billion, a decline of 2.3% year-over-year, and a total revenue of $16.7 billion for the year, down 0.8%. The company anticipates a revenue increase for Q1 2021 between $4.34-$4.38 billion. A significant factor in the Q4 decline was the exit from a major financial services engagement, which impacted revenue by 730 basis points. Adjusted diluted EPS for Q4 was $0.67, with adjusted operating margins expected to be 15.2-16.2% for the full year 2021. Cognizant also announced a 9% increase in dividends for shareholders.
Cognizant (Nasdaq: CTSH) has announced its acquisition of Magenic Technologies, Inc., enhancing its software engineering capabilities. This acquisition will add approximately 825 employees globally, with a significant presence in the U.S. and the Philippines. Magenic specializes in Agile software and cloud development and is recognized for its innovative solutions for Fortune 500 clients. Expected to close in Q1 2021, this strategic move supports Cognizant's goals in digital engineering and cloud services, marking its third acquisition this year and the twelfth since January 2020.
Cognizant (Nasdaq: CTSH) will release its fourth-quarter 2020 results on February 3, 2021, after market close. Following the release, management will host a conference call at 5:00 p.m. Eastern to discuss the company's performance. Domestic callers can dial 877-810-9510 and international callers 201-493-6778 (passcode: Cognizant Call). A replay will be available until February 17, 2021, via the same numbers. Additionally, a live broadcast can be accessed on the Investor Relations section of Cognizant's website.
Cognizant (NASDAQ: CTSH) announced its agreement to acquire Linium, a consultancy specializing in the ServiceNow platform. The acquisition, marking Cognizant's seventh cloud-related purchase since January 2020, aims to enhance its cloud strategy and enterprise service management capabilities. Linium, which has executed over 3,500 engagements and holds more than 300 ServiceNow certifications, will add approximately 150 professionals to Cognizant's workforce. Financial details were not disclosed, but the deal is expected to close in Q1 2021.
Cognizant (CTSH) announced the acquisition of Servian, an Australia-based consultancy specializing in data analytics and digital services. This marks Cognizant's 10th digital-focused acquisition since January 2020, aiming to enhance its digital transformation capabilities in Australia and New Zealand. With Servian's expertise and team of over 500 professionals, Cognizant plans to strengthen its cloud and data services, expanding its market presence and supporting clients in their digital adoption journeys. The deal is expected to close in Q1 2021, pending regulatory approvals.
Aston Martin returns to Formula One after 60 years, partnering with Cognizant as their title sponsor. This multiyear collaboration aims to enhance Aston Martin's digital transformation and operational capabilities. The team will unveil its car livery and driver lineup featuring Sebastian Vettel and Lance Stroll in March 2021. Cognizant's expertise is expected to improve the team's performance on and off the track, aligning with Aston Martin's ambitious objectives in the sport.
Cognizant (Nasdaq: CTSH) has announced the acquisition of Inawisdom, a UK-based consultancy specializing in artificial intelligence, machine learning, and data analytics, to enhance decision-making for businesses. This acquisition marks Cognizant's ninth in 2020, part of a broader investment of over $1.1 billion in data and AI capabilities. The partnership will leverage Inawisdom’s Rapid Analytics and Machine Learning Platform (RAMP), built on AWS, to deliver full-stack solutions and improve client outcomes.
Cognizant (Nasdaq: CTSH) has successfully implemented a digital thread technology framework for Lexmark, enhancing its digital capabilities and earning Lexmark the 2020 Forrester/InfoWorld Enterprise Architecture Award. The 'Product Digital Thread' project, powered by Cognizant's BigDecisions® data modernization platform, offers Lexmark predictive analytics and improved product quality control. This collaboration is set to optimize operations and prevent revenue loss. Lexmark's recognition underscores the effective partnership and the strategic impact of Cognizant's digital solutions on legacy systems.
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?
