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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.
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Cognizant (Nasdaq: CTSH) will announce Q4 2023 results on Feb 6, 2024, followed by a conference call to discuss operating performance. The call will be available live on the Investor Relations section of the Cognizant website and a replay will be available for 60 days following the call.
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Cognizant (Nasdaq: CTSH) collaborates with Microsoft to launch the Innovation Assistant, an AI-powered tool to augment the company's internal innovation program, Bluebolt. The tool aims to assimilate enterprise knowledge and foster creativity among employees to solve client challenges. Cognizant's CEO emphasizes the significance of the tool in revolutionizing the approach to innovation, ensuring the company and its clients stay ahead in a rapidly evolving business environment. The collaboration with Microsoft aims to enable customers to gain access to insights from enterprise data and stay ahead in the ever-evolving digital landscape.
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Cognizant (CTSH) and Oxford Economics predict that generative AI will affect 90% of U.S. jobs, emphasizing the need for strategic reskilling to maintain economic growth.
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Cognizant (CTSH) to Help Fortrea (FTRE) Deploy Secure Digital Ecosystem for Faster Patient Treatment Delivery
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Cognizant (Nasdaq: CTSH) signs a multi-year contract with Cambridge University Press & Assessment to drive digital transformation and leverage AI technology, aiming to improve operational effectiveness and maintain exam results integrity in the education sector.
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Cognizant (NASDAQ: CTSH) has entered into an agreement to acquire Thirdera, an Elite ServiceNow Partner, adding over 940 employees to Cognizant's ServiceNow Business Group. Thirdera is the largest independent global pure-play ServiceNow consultancy, with a leading position in ServiceNow training and certifications, creating one of the largest aggregations of ServiceNow professional certifications globally. The acquisition is expected to further efforts on the path of Cognizant and ServiceNow's strategic partnership to build a $1 billion combined business focused on AI-driven automation.
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Cognizant (NASDAQ: CTSH) is helping implement Tealium Customer Data Platform for the University of Melbourne to personalize the student and alumni journey. The University of Melbourne, a leading international university with a tradition of excellence, selected Cognizant to create data-led and personalized experiences for students, staff, and alumni. Ai Lin Choo Macdonald, Executive Director, Communications and Marketing (Acting) from The University of Melbourne, explained that the CDP is designed to empower UoM's constituents with relevant content and experiences based on their intent and what is known.
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Cognizant (CTSH) collaborates with Alm. Brand Group to automate outsourced business processes, aiming to enhance efficiency, improve customer experience, and boost competitiveness. Cognizant plans to consolidate all outsourced processes in Vilnius by 2024.
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Cognizant announces Q3 2023 financial results with $4.9 billion in revenue, a 0.8% YoY increase. Trailing 12-month bookings reach $26.9 billion, up 16% YoY. Operating cash flow is $828 million, and free cash flow is $755 million, 144% of net income. Share repurchase expectation for 2023 increased by $200 million to $1 billion. Full-year 2023 revenue guidance narrowed to (0.7%) to flat. Adjusted Operating Margin guidance is ~14.7%, the high end of prior guidance.
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Cognizant launches Synapse, a training initiative to empower one million individuals with cutting-edge technology skills by 2026. The program aims to reskill people for future employability, reaching underserved communities and marginalized groups. It will provide training in digital literacy and generative AI through various programs such as Skills Accelerator, Technology Partnerships, Apprenticeships, Community Education, and Employee Skilling.
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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