Cognizant leveraged Duck Creek Technologies' cutting-edge policy administration system to modernize FCCI's operations and expand the insurance group's footprint into the Excess & Surplus marketTEANECK, N.J., Oct. 23, 2024 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) announced today that, under strategic partnership as system integrator with FCCI Insurance Group (FCCI), they have supported the creation of FCCI's new Excess & Surplus (E&S) lines of business, which launched Oct. 1, 2024. This strategic collaborati ...

Company also recognized for innovative sustainability efforts with 2024 International Green Apple Environment Award and two National Awards for Excellence in CSR & SustainabilityTEANECK, N.J., Oct. 17, 2024 /PRNewswire/ -- Cognizant (NASDAQ:CTSH) today announced that it has been named one of America's Greenest Companies by Newsweek magazine and has been recognized among the Top 300 companies in the U.S., based on environmental sustainability. Cognizant was also recognized recently with multiple awards for i ...

Core Insights - Cognizant Technology Solutions (CTSH) has enhanced its Cognizant Neuro AI platform to assist enterprises in identifying and developing AI use cases for improved decision-making and revenue generation [1] - A study indicates that 76% of enterprises aim to leverage AI for revenue growth but encounter challenges in scaling these initiatives [1] Group 1: Product Enhancements - The upgraded Cognizant Neuro AI platform includes tools like Opportunity Finder and advanced large language model assistants, facilitating data analysis across various industries [1] - In Q2 2024, Cognizant launched Cognizant Neuro Edge, a platform that allows businesses to utilize AI and generative AI at the edge, improving decision-making and operational stability [2] Group 2: Client Expansion and Contracts - Cognizant has expanded its partner base, including collaborations with Microsoft, Gentherm, Alphabet's Google Cloud, and Victory Capital Holdings [3] - In Q2 2024, Cognizant secured five contracts with a total value of $100 million or more, completing 13 similar deals in the first half of 2024, surpassing 2023 levels [3] Group 3: Strategic Collaborations - The collaboration with Microsoft focuses on leveraging generative AI and Copilot to innovate across industries and enhance employee experiences [4] - A five-year strategic agreement with Victory Capital Holdings was signed to provide IT infrastructure and analytics support for digital transformation [4] Group 4: Financial Outlook - Cognizant expects Q3 2024 revenues between $4.89 billion and $4.96 billion, reflecting a potential decline of 0.2% to an increase of 1.3% [5] - The Zacks Consensus Estimate for Q3 revenues is $5 billion, indicating a year-over-year growth of 2.17% [5] - The consensus for earnings is $1.15 per share, showing a year-over-year decline of 0.86% [6] Group 5: Valuation and Investment Perspective - Cognizant's shares are considered cheap with a Value Score of B, and the forward 12-month Price/Sales ratio stands at 2, lower than the industry's 11.80 [7] - The sluggish growth prospects lead to a Growth Score of F, indicating potential risks for growth-oriented investors [7] - Cognizant currently holds a Zacks Rank 3 (Hold), suggesting a cautious approach for potential investors [7]

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Cognizant (CTSH) . This company, which is in the Zacks Business - Software Services industry, shows potential for another earnings beat.When looking at the last two reports, this information technology consulting and outsourcing firm has recorded a strong streak of surpassing earnings estimates. The company has topped estimate ...

The collaboration will integrate Cognizant's advanced solutions to enhance du's service quality and customer satisfaction, ushering in a new era of digital innovation in the telco industry.TEANECK, N.J., Oct. 16, 2024 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) and du, the leading telecom and digital services provider, today announced a five-year strategic relationship aimed at accelerating du's digital transformation. The collaboration is focused on enhancing du's internal capabilities to ensure the company r ...

Enhanced platform integrates powerful multi-agent AI orchestration that can accelerate the enterprise AI productivity-to-growth journeyDozens of businesses have already leveraged the platform to rapidly identify, build and pilot AI decisioning use cases that can deliver business value at scaleTEANECK, N.J., Oct. 16, 2024 /PRNewswire/ -- Cognizant (NASDAQ:CTSH) today announced significant enhancements to its Cognizant Neuro® AI platform, aimed at enabling enterprises to rapidly discover, prototype, and devel ...

Two-decade commitment to building a better tomorrow by supporting the underrepresented and underserved communities of IndiaCHENNAI, India, Oct. 8, 2024  /PRNewswire/ -- Cognizant (NASDAQ:CTSH) today announced it is commemorating the upcoming 20th anniversary of Cognizant Foundation India. Since its inception, Cognizant Foundation India has partnered with over 300 non-profit organizations across the subcontinent and successfully implemented more than 600 projects, which have positively impacted millions of e ...

Core Viewpoint - Cognizant Technology Solutions (CTSH) has experienced a 13.1% share price increase over the past year, underperforming compared to the Zacks Business - Software Services industry's growth of 29.2% and the broader Zacks Computer & Technology sector's return of 37.1% [1] Financial Performance - In Q2 2024, Cognizant reported revenues of $4.85 billion, reflecting a year-over-year decline of 0.7% and a 0.5% decline at constant currency [1] - Financial Services revenues decreased by 1.1% year-over-year to $1.447 billion during the same period [1] - For Q3 2024, Cognizant expects revenues to be between $4.89 billion and $4.96 billion, indicating a potential decline of 0.2% to an increase of 1.3% [4] Partnerships and Contracts - Cognizant's expanding partner base includes major companies like Microsoft, Gentherm, Alphabet's Google Cloud, and Victory Capital Holdings [2] - In Q2 2024, Cognizant secured five large contracts, each valued at $100 million or more, and completed 13 similar deals in the first half of 2024, significantly surpassing 2023 levels [2] - A five-year strategic agreement was signed with Victory Capital Holdings to provide IT infrastructure and support for digital transformation [3] Innovation and Technology - Cognizant launched its first set of healthcare large language model solutions utilizing Google Cloud's generative AI technology, targeting high-cost workflows in various operations [2] - The company is collaborating with Microsoft to leverage generative AI and Copilot for innovation across industries [3] - A transformative partnership with mecwacare aims to enhance healthcare services through an integrated platform powered by Salesforce and Workday [3] Market Outlook - Despite a strong portfolio and expanding partner base, Cognizant anticipates that the challenging macro environment will negatively impact spending in the Financial Services segment [4] - The Zacks Consensus Estimate for Q3 revenues is pegged at $5 billion, indicating year-over-year growth of 2.17% [4] - The consensus mark for earnings is $1.15 per share, reflecting a year-over-year decline of 0.86% [4] Valuation Metrics - Cognizant's shares are considered cheap, with a Value Score of B [5] - The forward 12-month Price/Sales ratio for CTSH is 1.99, significantly lower than the industry's 11.56 [6] - The company currently holds a Zacks Rank 3 (Hold), suggesting a cautious approach for potential investors [6]

Industry Overview - The Zacks Business-Software Services industry is experiencing growth due to increased demand for digital transformation, cloud migration, and automation of business processes [1][3] - The industry is characterized by companies providing application-specific software products and services, including finance, sales & marketing, human resources, and supply chain applications [3] Key Trends - Transition to Cloud: There is a robust demand for multi-cloud-enabled software solutions as companies shift from legacy systems to modern cloud infrastructure, incorporating AI for enhanced functionality [4] - Subscription Model Gains Traction: The industry is moving towards subscription and term license-based revenue models, which provide better revenue visibility but may impact short-term top-line growth [5] - Continuous M&A Activity: Companies are engaging in mergers and acquisitions to enhance their product offerings, although this may affect profitability due to increased investments [5] Financial Outlook - IT Spending Forecast: Worldwide IT spending is projected to increase by 7.5% to $5.26 trillion in 2024, with software spending expected to grow by 13.9% year-over-year [6] - Elevated Operating Expenses: Companies are investing heavily in R&D and sales to capture market share, which may strain margins in the near term [6] Industry Performance - Zacks Industry Rank: The industry holds a Zacks Industry Rank of 27, placing it in the top 11% of over 250 Zacks industries, indicating solid near-term prospects [8] - Underperformance Compared to Benchmarks: The industry has increased by 31.6% over the past year, underperforming the S&P 500 and broader sector, which rose by 39.6% and 33.9%, respectively [9] Valuation Metrics - Current Valuation: The industry's forward 12-month price-to-earnings ratio is 29.2, higher than the S&P 500's 21.57 and the sector's 25.99 [10] Company Highlights - MSCI: Benefits from strong demand for custom index modules and ESG solutions, with shares up 4% YTD and a consensus estimate for 2024 earnings at $14.79 per share [13][14] - Tyler Technologies: A leading provider for the public sector, benefiting from higher recurring revenues and a strong liquidity position, with shares up 39% YTD and a consensus estimate for 2024 earnings at $9.36 per share [15] - Cognizant: A professional services company with a robust product pipeline and strong partnerships, shares up 1.3% YTD with a consensus estimate for 2024 earnings at $4.62 per share [16][17] - Guidewire Software: Provides software solutions for insurers, gaining from cloud migration and strategic acquisitions, with shares up 67.1% YTD and a consensus estimate for fiscal 2025 earnings at $1.97 per share [18]

TEANECK, N.J., Sept. 25, 2024 /PRNewswire/ -- Cognizant (NASDAQ:CTSH) today announced it has been named to Fortune's 2024 Change the World list, ranking number 7 among 52 companies across a variety of industries and categories. This recognition celebrates the innovation and societal impact of Cognizant's Synapse initiative to advance technology job training for 1 million people worldwide by 2026.Cognizant has been named to the 2024 Fortune Change the World list.Now in its 10th year, the Fortune Change the W ...