Cognizant Technology Solutions - CTSH STOCK NEWS

mecwacare, a Victorian aged care provider, has partnered with Cognizant (Nasdaq: CTSH) for a multi-year digital transformation program. The initiative aims to modernize mecwacare's IT systems, optimize service delivery, and leverage data, analytics, and AI. Cognizant will implement an integrated platform powered by Salesforce and Workday to enhance person-centered care and operational efficiency.

Key objectives include:

• Improving client and workforce experiences
• Enabling data-driven decision-making at the point of care
• Revolutionizing service delivery with a holistic, person-centric approach
• Enhancing operational effectiveness and care quality

This significant investment underscores mecwacare's commitment to innovation and excellence in aged care services, addressing the growing needs of clients and families while strengthening Cognizant's presence in the public sector and health industry.

The England and Wales Cricket Board (ECB) has partnered with Cognizant (Nasdaq: CTSH) to enhance the digital experience for recreational cricket. As the Official Digital Technology Transformation Partner, Cognizant will develop integrated digital products to simplify administrative tasks and improve engagement for fans, players, and volunteers. The first phase is set to launch in 2025.

Cognizant will also support broader digital initiatives, including an annual innovation fund to test early-stage innovations for growing the game. This partnership aims to streamline cricket operations, enhance fan engagement, and facilitate the sport's growth in England and Wales through advanced technology solutions.

Cognizant (NASDAQ: CTSH) has announced a partnership with KOMBIT, a municipally owned IT company in Denmark, to transform public service application testing. The collaboration aims to enhance quality assurance and operational efficiency across 26 public service apps used by 98 Danish municipalities. Cognizant will implement Testing-as-a-service using advanced automation techniques and AI integration to improve application functionality, security, and user experience.

The partnership introduces a new standard for testing and quality assurance in Denmark by separating development tasks from testing tasks. This strategic division allows development suppliers to focus on innovation while Cognizant-KOMBIT ensures quality and optimization. Cognizant has also partnered with TestHuset to provide on-premises experts, complementing their global team and offering unparalleled support to KOMBIT.

Cognizant (Nasdaq: CTSH), a leading IT, consulting, and business process services provider, has announced its participation in the Goldman Sachs Communacopia + Technology Conference. The presentation will be delivered by Jatin Dalal, Chief Financial Officer, on Wednesday, September 11, 2024, at 10:10 AM PST / 1:10 PM EST.

Investors and interested parties can access a live audio webcast of the presentation through Cognizant's website at http://investors.cognizant.com. The webcast replay will remain available on the company's website for 90 days following the event, providing an opportunity for those unable to attend the live presentation to catch up on the information shared.

Cognizant (NASDAQ: CTSH) has completed the acquisition of Belcan for $1.3 billion in cash and stock. This strategic move strengthens Cognizant's engineering capabilities, particularly in Engineering Research & Development (ER&D) services for aerospace, defense, space, marine, and industrial sectors. Belcan brings over 6,500 engineers and technical consultants, enhancing Cognizant's expertise in embedded software, mechanical, electrical, and systems engineering.

The acquisition, first announced in June 2024, bolsters Cognizant's leadership in Internet of Things (IoT) and Digital Engineering while expanding its presence in the high-growth aerospace and defense services market. Cognizant CEO Ravi Kumar S. emphasized the combined capabilities and global scale will enable delivery of high-quality solutions to a diverse customer base worldwide.

BetterInvesting Magazine has announced Cognizant Technology Solutions Corp. (NASDAQ: CTSH) as its 'Stock to Study' and Brown-Forman Corp. (NYSE: BFB) as its 'Undervalued Stock' in the November 2024 issue. The announcement, made by the Editorial Advisory and Securities Review Committee, is intended for investors' informational and educational use.

The magazine emphasizes the importance of long-term investing, quoting NAIC founder George A. Nicholson Jr. CFA on the profitability of investing in companies with growing earnings over a five-year period. Investors are encouraged to use BetterInvesting's online tools to analyze these stocks, with non-members having access to a trial version.

The committee stresses that these selections are not endorsements or purchase recommendations, urging investors to conduct their own research using tools like the Stock Selection Guide before making investment decisions.

Cognizant (Nasdaq: CTSH) has announced key leadership changes. Rajesh Varrier will become Global Head of Operations on September 2, 2024, and Chairman & Managing Director of India on October 1, 2024. He replaces Rajesh Nambiar, who is leaving to become president of NASSCOM. Varrier, with 30 years of industry experience, will be an Executive Vice President reporting to CEO Ravi Kumar S.

Varrier's responsibilities will include operations, Delivery Excellence, workforce planning, and leading the India Leadership Council. He will focus on driving company transformation programs and executing Cognizant's growth plan across India. Prior to joining Cognizant, Varrier held leadership positions at Infosys and was CIO and Digital officer for Aditya Birla Sun Life Insurance.

Cognizant (CTSH) reported Q2 2024 financial results with revenue of $4.9 billion, exceeding guidance. Key highlights include:

- Revenue increased 1.9% sequentially (2.1% in constant currency)
- Operating margin improved to 14.6% from 11.8% in Q2 2023
- Adjusted Operating Margin expanded 100 basis points year-over-year to 15.2%
- Trailing 12-month bookings of $26.2 billion with a book-to-bill ratio of 1.4x

The company narrowed its full-year 2024 revenue guidance to a range of -0.5% to 1.0% growth in constant currency. Adjusted Operating Margin guidance remains unchanged at 15.3-15.5%, representing 20-40 basis points expansion year-over-year. CEO Ravi Kumar S emphasized progress on strategic priorities and improved organic growth outlook.

Cognizant's latest survey, 'New Work, New World: Quantifying Global Gen AI Momentum', reveals cautious optimism in generative AI adoption across industries. Key findings show:

- 77% of global companies aim to grow revenues through AI
- Average planned AI investment this year is nearly $50 million
- Only 26% have implemented cross-enterprise AI use cases
- 54% plan to upskill workers, 44% to transition displaced workers

The survey introduces a 'momentum score' for AI adoption, with North America leading at 15% above the global baseline. Companies recognize challenges in scaling AI, with 70% feeling they're not moving fast enough. The study, covering 2,200 executives from 23 countries and 15 industries, predicts generative AI could inject $1 trillion into the U.S. economy over the next decade.