Investors interested in Business - Software Services stocks are likely familiar with Cognizant (CTSH) and Wipro Limited (WIT) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Sco ...

Cognizant Technology Solutions (CTSH) reported non-GAAP earnings of $1.25 per share in third-quarter 2024, which beat the Zacks Consensus Estimate by 9.65% and increased 7.8% year over year.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Revenues of $5 billion beat the consensus mark by 0.82%. The top line increased 3% year over year and 2.7% at constant currency (cc). Acquisitions contributed 150 basis points (bps) to top-line growth.On a trailing 12-month basis, bookings declined 2% ...

| --- | --- | |----------------------------------|--------------| | | | | | Exhibit 99.3 | | | | | | | | Third Quarter 2024 | | | Financial Results and Highlights | | | October 30, 2024 | | | © 2024 Cognizant | | © 2024 Cognizant 1 Forward-looking statements This earnings supplement includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks, uncer ...

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Company Participants Tyler Scott - Vice President, Investor Relations Ravi Kumar - Chief Executive Officer Jatin Dalal - Chief Financial Office Conference Call Participants Jason Kupferberg - Bank of America Tien-Tsin Huang - JPMorgan Jim Schneider - Goldman Sachs Maggie Nolan - William Blair Jamie Friedman - Susquehanna Bryan Keane - Deutsche Bank Bryan Bergin - TD Cowen Operator Ladies and ...

Core Insights - Cognizant reported revenue of $5.04 billion for the quarter ended September 2024, reflecting a 3% increase year-over-year and a surprise of +0.82% over the Zacks Consensus Estimate of $5 billion [1] - Earnings per share (EPS) for the quarter was $1.25, compared to $1.16 in the same quarter last year, resulting in an EPS surprise of +9.65% against the consensus estimate of $1.14 [1] Revenue Performance by Segment - Financial Services revenue was $1.49 billion, matching the two-analyst average estimate, with a year-over-year change of +0.8% [3] - Communications, Media and Technology revenue was $816 million, below the average estimate of $843 million, representing a year-over-year decline of -3.7% [3] - Products and Resources revenue reached $1.23 billion, exceeding the average estimate of $1.21 billion, with a year-over-year increase of +5% [3] - Health Sciences revenue was $1.51 billion, surpassing the estimated $1.46 billion, showing a year-over-year growth of +7.8% [3] Stock Performance - Cognizant's shares have returned -0.8% over the past month, while the Zacks S&P 500 composite has increased by +1.8% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]

Cognizant (CTSH) came out with quarterly earnings of $1.25 per share, beating the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $1.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.65%. A quarter ago, it was expected that this information technology consulting and outsourcing firm would post earnings of $1.12 per share when it actually produced earnings of $1.17, delivering a surprise of 4.46%.Ov ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 0-24429 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 13-372835 ...

[Financial Performance and Outlook](index=1&type=section&id=Financial%20Performance%20and%20Outlook) [Q3 2024 Financial Highlights](index=1&type=section&id=Q3%202024%20Financial%20Highlights) Cognizant's Q3 2024 revenue grew 3.0% to $5.0 billion, driven by Health Sciences and Financial Services, achieving 14.6% GAAP operating margin and $1.25 Adjusted Diluted EPS Financial Highlights | Financial Metric | Q3 2024 | Q3 2023 | Y/Y Change | | :--- | :--- | :--- | :--- | | Revenue | $5.04B | $4.90B | +3.0% | | Revenue (Constant Currency) | - | - | +2.7% | | GAAP Operating Margin | 14.6% | 14.0% | +60 bps | | Adjusted Operating Margin | 15.3% | 15.5% | -20 bps | | GAAP Diluted EPS | $1.17 | $1.04 | +12.5% | | Adjusted Diluted EPS | $1.25 | $1.16 | +7.8% | - Revenue growth was driven by strong performance in **Health Sciences** and a return to growth in **Financial Services**[1](index=1&type=chunk)[2](index=2&type=chunk) - Recently completed acquisitions contributed approximately **200 basis points** to the year-over-year revenue growth[3](index=3&type=chunk) [Business Segment & Geographic Performance](index=14&type=section&id=Business%20Segment%20%26%20Geographic%20Performance) In Q3 2024, Health Sciences led segment growth at 7.8%, with Financial Services returning to 0.7% growth, and North America leading geographic performance at 3.8% Segment Performance | Segment | Q3 2024 Revenue | Y/Y Growth | Y/Y Growth (CC) | | :--- | :--- | :--- | :--- | | Financial Services | $1,486M | 0.7% | 0.5% | | Health Sciences | $1,514M | 7.8% | 7.6% | | Products and Resources | $1,228M | 5.0% | 4.6% | | Communications, Media & Technology | $816M | (3.7)% | (4.1)% | Geographic Performance | Geography | Q3 2024 Revenue | Y/Y Growth | Y/Y Growth (CC) | | :--- | :--- | :--- | :--- | | North America | $3,735M | 3.8% | 3.8% | | Europe | $967M | (0.3)% | (1.9)% | | Rest of World | $342M | 4.3% | 4.2% | - Acquisitions contributed approximately **750 basis points** of growth to the Products and Resources segment, primarily in North America[47](index=47&type=chunk) [Key Operational Metrics](index=2&type=section&id=Key%20Operational%20Metrics) Trailing 12-month bookings were $26.2 billion with a 1.3x book-to-bill ratio, supported by six large deals in Q3, and Tech Services voluntary attrition improved to 14.6% - Trailing 12-month bookings were **$26.2 billion**, a **2% year-over-year decline**, with a book-to-bill ratio of **1.3x**[1](index=1&type=chunk)[5](index=5&type=chunk) - The company signed **six large deals** (over **$100 million** each) in Q3, bringing the year-to-date total to **nineteen**, surpassing the full year 2023 total[2](index=2&type=chunk)[5](index=5&type=chunk) - Trailing 12-month voluntary attrition for Tech Services improved to **14.6%**, down from **16.2%** in the prior year period[6](index=6&type=chunk) - Total headcount increased by **3,800** from Q2 2024 to **340,100**, including employees from the newly acquired Belcan[6](index=6&type=chunk) [Capital Allocation](index=2&type=section&id=Capital%20Allocation) In Q3 2024, the company repurchased 3.1 million shares for $228 million and declared a $0.30 per share dividend, with $1.4 billion remaining for share repurchases - In Q3, the company repurchased **3.1 million shares** for **$228 million**[7](index=7&type=chunk) - As of September 30, 2024, **$1.4 billion** remained available under the share repurchase authorization[7](index=7&type=chunk) - A quarterly cash dividend of **$0.30 per share** was declared, payable in November 2024[7](index=7&type=chunk) [Q4 & Full-Year 2024 Guidance](index=2&type=section&id=Q4%20%26%20Full-Year%202024%20Guidance) Cognizant projects Q4 revenue of $5.0-$5.1 billion (4.8%-6.8% CC growth) and full-year 2024 revenue growth of 1.4%-1.9% (CC) with an Adjusted Operating Margin of ~15.1% Financial Guidance | Guidance Metric | Q4 2024 Forecast | Full-Year 2024 Forecast | | :--- | :--- | :--- | | Revenue | $5.0B - $5.1B | $19.7B - $19.8B | | Revenue Growth (Y/Y) | 5.1% to 7.1% | 1.6% to 2.1% | | Revenue Growth (Y/Y, CC) | 4.8% to 6.8% | 1.4% to 1.9% | | Adjusted Operating Margin | - | ~15.1% | | Adjusted Diluted EPS | - | $4.63 - $4.67 | - The full-year 2024 revenue guidance assumes an approximate **200 basis point** contribution from inorganic growth (acquisitions)[8](index=8&type=chunk) [Strategic and Business Developments](index=3&type=section&id=Strategic%20and%20Business%20Developments) [Strategic Initiatives](index=3&type=section&id=Strategic%20Initiatives) Cognizant's strategic initiatives include an AI-led approach, the Belcan acquisition for ER&D, Neuro® AI platform enhancements, and key partnerships with NVIDIA, ServiceNow, AWS, and Palo Alto Networks [Strategic Acquisitions](index=3&type=section&id=Strategic%20Acquisitions) Cognizant completed the **$1.3 billion** acquisition of Belcan, strengthening its ER&D capabilities and expanding its presence in aerospace, defense, and industrial markets - Completed the acquisition of Belcan for approximately **$1.3 billion** in cash and stock[9](index=9&type=chunk) - The acquisition strengthens Cognizant's capabilities in **ER&D**, **IoT**, and **Digital Engineering**, increasing its presence in the aerospace and defense (A&D) services market[2](index=2&type=chunk)[9](index=9&type=chunk) [Platform Enhancements](index=3&type=section&id=Platform%20Enhancements) Cognizant enhanced its Neuro® platforms by launching Neuro® Cybersecurity and introducing Multi-Agent Orchestration to Neuro® AI for rapid AI use case development - Launched **Cognizant Neuro® Cybersecurity**, an AI-enabled platform designed to integrate various security solutions and enhance real-time decision-making[10](index=10&type=chunk) - Announced **Multi-Agent Orchestration** for the **Cognizant Neuro® AI Platform** to enable enterprises to rapidly prototype and develop AI use cases[11](index=11&type=chunk) [Partnerships](index=3&type=section&id=Partnerships) Cognizant expanded its ecosystem via strategic partnerships with NVIDIA for data modernization, ServiceNow for Workflow Data Fabric, AWS for smart manufacturing, and Palo Alto Networks for AI-driven cybersecurity - New collaboration with **NVIDIA** to enhance data modernization offerings using the **NVIDIA RAPIDS library**[12](index=12&type=chunk) - Expanded partnership with **ServiceNow** to be the first to market its new **Workflow Data Fabric**, which unifies enterprise data[13](index=13&type=chunk) - Signed a strategic collaboration with **Amazon Web Services (AWS)** to enhance smart manufacturing capabilities for global enterprises[14](index=14&type=chunk) - Partnered with **Palo Alto Networks** to deliver AI-driven cybersecurity capabilities and services[15](index=15&type=chunk) [Major Client Wins](index=4&type=section&id=Major%20Client%20Wins) Cognizant secured major client wins, including digital transformation for mecwacare and UAE telecom du, and technology services for Alnylam Pharmaceuticals and FCCI Insurance Group - Selected by **mecwacare** (aged care provider) as a strategic partner for a digital transformation program to modernize its enterprise applications[16](index=16&type=chunk) - Announced a **five-year strategic relationship** with **du**, a leading telecom provider in the UAE, to accelerate its digital transformation[18](index=18&type=chunk) - Chosen by **Alnylam Pharmaceuticals** to manage its global infrastructure, cloud, security, and data analytics, and by **FCCI Insurance Group** to implement a new policy administration system[19](index=19&type=chunk)[20](index=20&type=chunk) [Industry Recognition and Awards](index=4&type=section&id=Industry%20Recognition%20and%20Awards) Cognizant received widespread industry recognition, including Forbes' 'World's Best Employers' and Fortune's 'Change the World' lists, and was named a 'Leader' by multiple analyst firms across diverse service areas - Recognized by **Forbes** as one of the **World's Best Employers** and ranked seventh on **Fortune's 2024 'Change the World' list** for its Synapse skilling initiative[21](index=21&type=chunk)[22](index=22&type=chunk) - Named one of **America's Greenest Companies** by **Newsweek** and received multiple awards for its sustainability efforts[23](index=23&type=chunk) - Acknowledged as a 'Leader' by **Everest Group**, **HFS**, **ISG**, **Avasant**, and **Constellation** in numerous reports covering areas such as **Generative AI**, **IoT Services**, **Multi Public Cloud Services**, and **Digital Transformation**[26](index=26&type=chunk)[27](index=27&type=chunk) [Detailed Financial Statements](index=9&type=section&id=Detailed%20Financial%20Statements) [Consolidated Statements of Operations](index=9&type=section&id=Consolidated%20Statements%20of%20Operations) In Q3 2024, Cognizant reported revenues of $5.044 billion, income from operations of $738 million, and net income of $582 million, with nine-month net income at $1.694 billion Consolidated Statements of Operations | (in millions) | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Revenues | $5,044 | $4,897 | | Income from operations | $738 | $686 | | Net income | $582 | $525 | | Diluted EPS | $1.17 | $1.04 | [Consolidated Statements of Financial Position](index=11&type=section&id=Consolidated%20Statements%20of%20Financial%20Position) As of September 30, 2024, total assets were $20.16 billion, driven by increased Goodwill and Intangible Assets, with total liabilities at $5.71 billion and stockholders' equity at $14.45 billion Consolidated Statements of Financial Position | (in millions) | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total current assets | $7,548 | $7,506 | | Goodwill | $7,132 | $6,085 | | Intangible assets, net | $1,681 | $1,149 | | **Total assets** | **$20,164** | **$18,483** | | Total current liabilities | $3,388 | $3,333 | | Long-term debt | $1,183 | $606 | | **Total liabilities** | **$5,712** | **$5,256** | | **Total stockholders' equity** | **$14,452** | **$13,227** | [Condensed Consolidated Statements of Cash Flows](index=15&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q3 2024, net cash from operating activities was $847 million, investing activities used $1.25 billion (primarily for acquisitions), and financing activities provided $212 million from borrowing offsetting share repurchases and dividends Condensed Consolidated Statements of Cash Flows | (in millions) | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $847 | $828 | | Net cash (used in) investing activities | $(1,250) | $(199) | | Net cash provided by (used in) financing activities | $212 | $(450) | | **Free cash flow** | **$791** | **$755** | - Cash used for business combinations, net of cash acquired, was **$1.194 billion** in Q3 2024[48](index=48&type=chunk) [Reconciliation of GAAP to Non-GAAP Measures](index=12&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) Cognizant reconciles GAAP to non-GAAP measures, with Q3 2024 adjustments for $33 million in 'NextGen charges,' resulting in an Adjusted Operating Margin of 15.3% and Adjusted Diluted EPS of $1.25 Reconciliation of GAAP to Non-GAAP Measures | (in millions, except per share data) | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **GAAP income from operations** | **$738** | **$686** | | NextGen charges | $33 | $72 | | **Adjusted Income From Operations** | **$771** | **$758** | | **GAAP operating margin** | **14.6%** | **14.0%** | | **Adjusted Operating Margin** | **15.3%** | **15.5%** | | **GAAP diluted EPS** | **$1.17** | **$1.04** | | **Adjusted Diluted EPS** | **$1.25** | **$1.16** | - NextGen charges in Q3 2024 totaled **$33 million**, consisting of **$29 million** in employee separation costs and **$4 million** in facility exit costs[43](index=43&type=chunk)

Core Insights - Cognizant reported third quarter 2024 revenue of $5.0 billion, reflecting a year-over-year increase of 3.0% or 2.7% in constant currency, which is at the high end of the guidance range [1][3] - The operating margin remained flat sequentially at 14.6%, with a year-over-year increase of 60 basis points [1][3] - Adjusted Operating Margin was 15.3%, showing a sequential increase of 10 basis points but a decrease of 20 basis points year-over-year [1][3] - The company signed six large deals in the third quarter, each exceeding $100 million, bringing the year-to-date total to 19, surpassing the total for the full year 2023 [2] Financial Performance - Revenue for Q3 2024 was $5.04 billion compared to $4.90 billion in Q3 2023, marking a 3.0% increase [3] - GAAP Diluted EPS for Q3 2024 was $1.17, up from $1.04 in Q3 2023 [3] - Year-to-date operating margin for 2024 was 14.6%, an increase of 110 basis points year-over-year [1][3] Segment Performance - Health Sciences segment grew by 7.8% year-over-year, while Financial Services returned to growth with a 0.7% increase [1][3] - The Products and Resources segment reported a 5.0% increase year-over-year [32] Guidance - Full-year 2024 revenue guidance is narrowed to a growth range of 1.4% to 1.9% in constant currency [1][8] - Fourth quarter revenue is expected to be between $5.0 billion and $5.1 billion, representing a growth of 5.1% to 7.1% [8] Strategic Initiatives - Cognizant completed the acquisition of Belcan for approximately $1.3 billion, enhancing its engineering capabilities in the ER&D market [10] - The company announced new AI-driven platforms and partnerships, including collaborations with NVIDIA and AWS, aimed at enhancing data modernization and smart manufacturing capabilities [12][10] Shareholder Returns - During Q3 2024, Cognizant repurchased 3.1 million shares for $228 million, with $1.4 billion remaining under the share repurchase authorization [7] - A quarterly cash dividend of $0.30 per share was declared, payable on November 27, 2024 [7]

Launched about one year ago, Cognizant created Synapse as a global program to equip individuals with the technology skills they need to be part of the workforce of the future. TEANECK, N.J., Oct. 29, 2024 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced it has reached more than 275,000 people via its global skilling initiative, Synapse, which launched one year ago in October, 2023. This milestone shows Cognizant is more than a quarter of the way toward reaching the program's goal to advance technolo ...