Cognizant Technology Solutions Stock Price, News & Analysis

Cognizant (Nasdaq: CTSH) has been selected by Volkswagen Group Ireland to transform its digital customer service landscape. The initiative involves re-engineering VWG Ireland's contact center into an omni-channel customer experience platform using Salesforce Service Cloud Voice and Amazon Connect. This modernization aims to unify customer service operations, reduce maintenance costs, and enhance efficiency. Cognizant will provide advanced insights into customer journeys to improve reporting and decision-making. This partnership marks a significant step in helping VWG Ireland meet evolving customer expectations in a rapidly changing automotive sector.

Cognizant (Nasdaq: CTSH) has been selected by DSB, Denmark's largest railway operator, as the sole provider of offshore IT consulting services. This multi-year agreement aims to enhance DSB's data analytics, IoT, and software development capabilities, thereby improving train availability and customer experience. DSB expects to become more data-driven and sustainable through better connectivity and IoT-enabled assets. The collaboration is part of DSB's ongoing strategy to adapt to shifting transportation patterns post-pandemic and invest in electrification, while Cognizant leverages its expertise in sustainable transportation.

Cognizant (Nasdaq: CTSH) announced its participation in the Morgan Stanley Technology, Media & Telecom Conference, scheduled for March 8, 2023, at 11:35 AM EST. Chief Financial Officer Jan Siegmund will present at the event. Live audio webcasts will be available on Cognizant's website with a replay accessible for 90 days. The conference aims to showcase Cognizant's role in modernizing technology and transforming business processes, aligning with its mission to engineer modern businesses. For more details, visit investors.cognizant.com.

Cognizant (Nasdaq: CTSH) has appointed Nella Domenici to its Board of Directors as an independent director, effective February 21, 2023. With this addition, the Board expands to 13 members, 12 of whom are independent. Domenici has extensive experience in strategic finance, M&A, and corporate strategy, previously serving as CFO at Dataminr and Bridgewater Associates. Her expertise in capital markets is expected to enhance Cognizant's growth strategy. This marks the sixth new independent director added in the last four years as part of the Board's refreshment initiative.

Cognizant has partnered with Orica to implement a digital platform for real-time monitoring and forecasting of greenhouse gas emissions as part of Orica's Net Zero strategy. This initiative supports Orica’s AUD 37 million (USD 27 million) Kooragang Island Decarbonization Project, aiming to achieve a cumulative reduction of 4.7 million tonnes of CO₂e by 2030. Leveraging Orica's Microsoft Azure data lake, the platform will consolidate emissions data to enhance reporting and compliance. Both companies emphasize the growing need for sustainability in the resources industry, highlighting their commitment to reducing carbon footprints.

Cognizant (NASDAQ: CTSH) received recognition as a technology leader in Q4 2022 by independent analyst firms across multiple sectors, including banking, insurance, and healthcare. In total, Cognizant was highlighted in 17 reports, showcasing its strengths in partnerships with firms like Workday and Guidewire, along with advanced solutions in automation and cloud technology. In 2022, Cognizant was named a leader in 53 different reports. Gaurav Chand, EVP, noted the company's commitment to delivering transformative solutions, underscoring its role in helping clients modernize their operations and embrace digital transformation.

Cognizant (Nasdaq: CTSH) announced the appointment of Eric Branderiz as an independent director effective February 21, 2023, expanding its Board from 11 to 12 members. Branderiz brings over 26 years of experience in finance and C-suite roles in the energy and technology sectors, including prior positions at Enphase Energy and Tesla. In conjunction with this appointment, Maureen Breakiron-Evans will not stand for re-election at the upcoming 2023 Annual Meeting. The Board aims to optimize its composition to drive growth and shareholder value, reflecting ongoing refreshment efforts with five new independent directors appointed in the last four years.

Cognizant (CTSH) reported Q4 2022 revenue of $4.8 billion, a 1.3% increase year-over-year, with full-year revenue reaching $19.4 billion, up 5%. Operating cash flow for the year was $2.6 billion, while free cash flow stood at $2.2 billion. Shareholders benefitted from $2 billion returned through dividends and repurchases. A cash dividend of $0.29 per share was announced for Q1 2023, reflecting a 7% increase. Guidance for Q1 2023 projects revenue decline of 1.5% to 2.5%. A $59 million impairment related to a health sciences contract negatively impacted margins and EPS. The company appointed Eric Branderiz as an independent director.

NICE and Cognizant have launched a strategic partnership aimed at enhancing customer experience (CX) transformation through integrated cloud solutions. This collaboration combines Cognizant's expertise in business transformation with NICE CXone's advanced CX platform, facilitating the adoption of digital and AI-driven solutions for organizations. The partnership is expected to create significant growth opportunities within their customer bases, focusing on improving customer and agent experiences via a unified CCaaS suite. Previous collaborations have successfully reduced wait times and accelerated platform deployments.