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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.
Rhea-AI Summary
Cognizant (CTSH) has been recognized as one of 'America's Most Innovative Companies 2024' by Fortune and Statista Inc. for its product innovation, process innovation, and innovation culture. The company's focus on innovation, including the Bluebolt grassroots innovation initiative, has led to significant advancements in technology and services, benefiting clients globally.
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Cognizant (CTSH) collaborates with Clario to enhance digital solutions for clinical trials. The partnership aims to improve efficiency, speed, and accuracy in data gathering and analysis. Cognizant's automation and digital technologies will support Clario in advancing its IT infrastructure and applications, ultimately driving innovation in the clinical trials space.
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Cognizant and Google Cloud expand their partnership to enhance software development with Gemini AI, aiming to boost productivity and efficiency. Cognizant will invest $1 billion in generative AI over three years, training 70,000 associates on Google Cloud's AI technologies.
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Cognizant (CTSH) renews collaboration with Cermaq Group AS, a global salmon producer, to provide managed infrastructure services, modernize cloud landscape, and drive digital transformation in Norway and Canada. The partnership aims to simplify, modernize, and secure Cermaq's technology landscape, reduce costs, speed up time to market, and ensure stable operations. Cognizant will play a key role in Cermaq's IT operations, enabling entities in Norway and Canada to own their IT landscape within a centralized governance framework.
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Cognizant partners with NVIDIA BioNeMo to revolutionize drug discovery using generative AI, aiming to speed up development processes and bring new treatments to market faster.
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Cognizant (CTSH) announces the launch of an Advanced AI Lab in San Francisco with a team of researchers and developers focusing on cutting-edge AI systems. The lab aims to advance AI science and practice through innovation and intellectual property development. With 75 patents, Cognizant plans to invest $1 billion in gen AI over three years, aiming to inject up to $1 trillion into the U.S. economy by 2032.
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Cognizant and Microsoft collaborate to integrate generative AI into healthcare administration through the TriZetto platform, aiming to boost productivity, efficiency, and patient care. The partnership seeks to inject $1 trillion into the U.S. economy over the next decade through new revenue streams and innovation.
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Cognizant (CTSH) extends strategic partnership with CNO Financial Group to enhance customer experience and optimize business processes with cloud, digital technologies, and AI. Cognizant to provide end-to-end technology services using gen AI technologies to drive efficiencies for CNO's technology landscape.
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Lexitas, a leading provider of technology-enabled litigation services, appoints Sriram Venkateswaran as Chief Financial Officer. Venkateswaran brings over 20 years of global executive operating experience to the role.
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Cognizant (CTSH) reported a full-year revenue of $19.4 billion, a 0.4% decline year-over-year, or a 0.3% decline in constant currency. The full-year operating margin was 13.9% and Adjusted Operating Margin was 15.1%. Trailing 12-month bookings were $26.3 billion, up 9% year-over-year. The company returned $1.7 billion to shareholders through share repurchases and dividends in 2023. Cognizant provided a 2024 revenue growth guidance of (2%) to 2% in constant currency and a 2024 Adjusted Operating Margin guidance of 15.3-15.5%, an expansion of 20 to 40 basis points.
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FAQ
What is the current stock price of Cognizant Technology Solutions (CTSH)?
The current stock price of Cognizant Technology Solutions (CTSH) is $79.23 as of December 20, 2024.
What is the market cap of Cognizant Technology Solutions (CTSH)?
The market cap of Cognizant Technology Solutions (CTSH) is approximately 39.4B.
What services does Cognizant offer?
Cognizant provides IT consulting, outsourcing services, and digital transformation solutions across various industries including finance, healthcare, and media.
Where is Cognizant headquartered?
Cognizant is headquartered in Teaneck, New Jersey, USA.
How many employees does Cognizant have?
Cognizant employs nearly 300,000 people worldwide, with a significant workforce in India.
What was Cognizant’s recent major partnership?
In April 2024, Cognizant partnered with McCormick & Company to transform its global technology infrastructure using AI-powered tools.
What are Cognizant’s financial highlights for Q1 2024?
Cognizant reported strong Q1 2024 results with revenue above guidance, improved margins, and continued strategic investments in AI and digital transformation.
How is Cognizant contributing to community development?
Through the Synapse program, Cognizant has awarded $70 million in grants to support skill development and economic mobility in underrepresented communities.
What is the significance of Cognizant’s acquisition of Belcan?
The acquisition of Belcan enhances Cognizant’s ER&D capabilities and expands its presence in the aerospace and defense sectors.
How does Cognizant support client digital transformation?
Cognizant leverages advanced technologies like AI, cloud, and its unique industry-based approach to help clients modernize and innovate their business operations.
What is Cognizant’s NextGen program?
The NextGen program focuses on operational excellence and cost discipline to drive growth and efficiency within Cognizant’s operations.
How does Cognizant ensure responsible AI implementation?
Cognizant is a member of Microsoft's Responsible AI Council and follows stringent standards for safety, security, privacy, and transparency in AI deployment.
Cognizant Technology Solutions
Nasdaq:CTSH
CTSH Rankings
CTSH Stock Data
39.41B
494.98M
0.17%
99.6%
3.24%
Information Technology Services
Services-computer Programming Services
United States of America
TEANECK