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 (Nasdaq: CTSH) announced its participation in the Goldman Sachs Technology and Internet Conference 2021. The event will be held on February 11, 2021, at 10:30 AM ET, with CEO Brian Humphries as the presenter. Live audio webcasts will be available on Cognizant's investor website, and the replay will remain accessible for 90 days post-event. Cognizant is recognized as a leading professional services company, dedicated to transforming clients' business models for the digital era.
Cognizant (Nasdaq: CTSH) reported its Q4 2020 results with revenues of $4.2 billion, a decline of 2.3% year-over-year, and a total revenue of $16.7 billion for the year, down 0.8%. The company anticipates a revenue increase for Q1 2021 between $4.34-$4.38 billion. A significant factor in the Q4 decline was the exit from a major financial services engagement, which impacted revenue by 730 basis points. Adjusted diluted EPS for Q4 was $0.67, with adjusted operating margins expected to be 15.2-16.2% for the full year 2021. Cognizant also announced a 9% increase in dividends for shareholders.
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Cognizant (Nasdaq: CTSH) has announced its acquisition of Magenic Technologies, Inc., enhancing its software engineering capabilities. This acquisition will add approximately 825 employees globally, with a significant presence in the U.S. and the Philippines. Magenic specializes in Agile software and cloud development and is recognized for its innovative solutions for Fortune 500 clients. Expected to close in Q1 2021, this strategic move supports Cognizant's goals in digital engineering and cloud services, marking its third acquisition this year and the twelfth since January 2020.
Cognizant (Nasdaq: CTSH) will release its fourth-quarter 2020 results on February 3, 2021, after market close. Following the release, management will host a conference call at 5:00 p.m. Eastern to discuss the company's performance. Domestic callers can dial 877-810-9510 and international callers 201-493-6778 (passcode: Cognizant Call). A replay will be available until February 17, 2021, via the same numbers. Additionally, a live broadcast can be accessed on the Investor Relations section of Cognizant's website.
Cognizant (NASDAQ: CTSH) announced its agreement to acquire Linium, a consultancy specializing in the ServiceNow platform. The acquisition, marking Cognizant's seventh cloud-related purchase since January 2020, aims to enhance its cloud strategy and enterprise service management capabilities. Linium, which has executed over 3,500 engagements and holds more than 300 ServiceNow certifications, will add approximately 150 professionals to Cognizant's workforce. Financial details were not disclosed, but the deal is expected to close in Q1 2021.
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.