Welcome to our dedicated page for Cognizant Technology Solutions news (Ticker: CTSH), a resource for investors and traders seeking the latest updates and insights on Cognizant Technology Solutions stock.
Cognizant Technology Solutions reports news on its role as a technology services provider and AI builder for enterprise clients. Company updates commonly cover full-stack AI solutions, secure and governed AI deployment, ServiceNow implementation and managed services engagements, and IT modernization work for large organizations.
Recurring developments also include quarterly financial results, bookings trends, investor conference participation, AI Lab patent activity, and the Cognizant Innovation Network, its corporate investment arm focused on enterprise software startups in AI, data, cybersecurity and cloud. News may also include updates from Belcan, a Cognizant company serving aerospace, defense, space, automotive, industrial, marine and government services markets.
Cognizant (CTSH) announced the acquisition of Servian, an Australia-based consultancy specializing in data analytics and digital services. This marks Cognizant's 10th digital-focused acquisition since January 2020, aiming to enhance its digital transformation capabilities in Australia and New Zealand. With Servian's expertise and team of over 500 professionals, Cognizant plans to strengthen its cloud and data services, expanding its market presence and supporting clients in their digital adoption journeys. The deal is expected to close in Q1 2021, pending regulatory approvals.
Aston Martin returns to Formula One after 60 years, partnering with Cognizant as their title sponsor. This multiyear collaboration aims to enhance Aston Martin's digital transformation and operational capabilities. The team will unveil its car livery and driver lineup featuring Sebastian Vettel and Lance Stroll in March 2021. Cognizant's expertise is expected to improve the team's performance on and off the track, aligning with Aston Martin's ambitious objectives in the sport.
Cognizant (Nasdaq: CTSH) has announced the acquisition of Inawisdom, a UK-based consultancy specializing in artificial intelligence, machine learning, and data analytics, to enhance decision-making for businesses. This acquisition marks Cognizant's ninth in 2020, part of a broader investment of over $1.1 billion in data and AI capabilities. The partnership will leverage Inawisdom’s Rapid Analytics and Machine Learning Platform (RAMP), built on AWS, to deliver full-stack solutions and improve client outcomes.
Cognizant (Nasdaq: CTSH) has successfully implemented a digital thread technology framework for Lexmark, enhancing its digital capabilities and earning Lexmark the 2020 Forrester/InfoWorld Enterprise Architecture Award. The 'Product Digital Thread' project, powered by Cognizant's BigDecisions® data modernization platform, offers Lexmark predictive analytics and improved product quality control. This collaboration is set to optimize operations and prevent revenue loss. Lexmark's recognition underscores the effective partnership and the strategic impact of Cognizant's digital solutions on legacy systems.
As COVID-19 rates rise globally, XPRIZE and Cognizant (Nasdaq: CTSH) launch the Pandemic Response Challenge. This initiative aims to leverage data and AI to equip leaders with actionable insights for public safety and economic stability. Competing teams will develop AI models predicting COVID-19 transmission and suggesting intervention strategies. The challenge, with a $500K prize purse, will conclude in February 2021, featuring two phases requiring predictive and prescriptive models. This effort emphasizes the role of collaboration in navigating the pandemic and future crises.
Cognizant (CTSH) reported Q3 2020 revenue of $4.2 billion, a slight decline of 0.1%, with a GAAP operating margin of 14.2% and diluted EPS of $0.64, impacted by a one-time tax expense. Adjusted diluted EPS was $0.97. Year-to-date cash flow from operations reached $2.4 billion. The company anticipates FY2020 revenue at approximately $16.7 billion, with a decline of 0.4% in constant currency. A quarterly dividend of $0.22 per share is declared for November 30, 2020. CEO Brian Humphries emphasized ongoing digital transformation amidst a challenging demand environment.
Cognizant (Nasdaq: CTSH) announced its decision to acquire Bright Wolf, a leader in Industrial Internet of Things (IIoT) solutions for Fortune 1000 companies. This acquisition aims to enhance Cognizant's IoT capabilities, establishing a new innovation lab in Raleigh-Durham, N.C. Bright Wolf is recognized for its expertise with major cloud providers and has successfully implemented IIoT solutions in various industries. This deal marks Cognizant's eighth acquisition in 2020, emphasizing its commitment to growth in cloud, AI, analytics, and IoT services.
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Cognizant (Nasdaq: CTSH) will release its third-quarter 2020 results on October 28, 2020, after market close. Management will host a conference call at 5:00 p.m. Eastern to discuss performance. Domestic participants can call 877-810-9510, while international callers can reach 201-493-6778. A live broadcast will be available on the Investor Relations section of their website, with a subsequent replay accessible for two weeks. Cognizant is recognized as a leading professional services company, focusing on digital transformation for clients globally.
Cognizant (Nasdaq: CTSH) has been recognized as a Leader in Everest Group's Medical Devices Digital Services PEAK Matrix® Assessment 2020. The report evaluates 21 global IT service providers based on innovation, market success, and service scope. Cognizant's investments in digital solutions enhance human-centric design and improve patient outcomes. A case study revealed a 10% increase in satisfaction for a diabetes support program, while operational costs decreased. Everest Group noted Cognizant's strong client relationships and commitment to digital transformation in the rapidly growing medical devices market.