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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.
News
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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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Cognizant (Nasdaq: CTSH) introduces Cognizant Flowsource, a gen AI-enabled platform, aiming to revolutionize software engineering for enterprises. The platform integrates all stages of the software development lifecycle, providing cross-functional engineering teams with digital assets and tools to deliver high-quality code faster and with increased control and transparency. Cognizant Flowsource also focuses on improving throughput, quality, and consistency across development, ultimately leading to better time-to-market for new products and services.
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Cognizant collaborates with CITSA to implement Amazon's Just Walk Out technology in the Café Yala Plus Student Association store, providing nearly 24/7 access for students. This strategic growth opportunity aims to enhance the student shopping experience and streamline inventory management while leveraging advanced technologies like artificial intelligence.
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Cognizant (NASDAQ: CTSH) has expanded its agreement with Takeda (NYSE: TAK), a global biopharmaceutical company, to support Takeda's digital transformation strategy. The partnership aims to attract additional technology talent and expand Takeda's Innovation Capability Center operations. Cognizant will help Takeda deliver digital capabilities as a service and modernize its operational model, aiming to accelerate Takeda's digital transformation journey and speed time to market.
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Cognizant (NASDAQ:CTSH) announces collaboration with ServiceNow to enhance Cognizant WorkNEXT™ modern workplace services solution with generative AI capabilities. The collaboration aims to improve employee self-service, streamline adoption of gen AI tech for enterprises, and shift from transactional to 'total experience' model. The platform enhances user interactions, conversations, and IT support with predictive intelligence, user sentiment analysis, and copilot guidance. The solution is a product of years of Cognizant expertise in consulting, advisory, deployments, and managed services across modern workplace services, enriched by Cognizant's experience in AI and automation, enabled by deep partner collaborations in R&D, technology incubation, multi-platform integrations, and deployments at scale.
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Sunstone Partners announces the sale of Thirdera to Cognizant, creating the largest independent pure play ServiceNow consultancy with global presence. The initial transaction allowed Thirdera to combine the strengths of three industry leaders, with three additional follow-on acquisitions. Sunstone Partners partnered with Marc Talluto and Jason Wojahn to lead Thirdera, successfully integrating six companies in just under three years.
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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 $77.11 as of November 15, 2024.
What is the market cap of Cognizant Technology Solutions (CTSH)?
The market cap of Cognizant Technology Solutions (CTSH) is approximately 38.7B.
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
38.67B
495.82M
0.16%
102.21%
2.76%
Information Technology Services
Services-computer Programming Services
United States of America
TEANECK