Promise of valuation parity with peers drawing Cognizant to Indian exchanges

Cognizant Technology Solutions Corp. earns more revenue than Infosys Ltd, yet the Nasdaq-listed information technology services firm is valued at barely half its peer, which is listed in India as well as the US. While Infosys, India’s second-largest IT outsourcer, has a market capitalization of $70.5 billion, Cognizant is valued at $35.01 billion—even though both closed their last fiscal year with comparable revenues of $19.74 billion and $19.28 billion, respectively. Cognizant follows a January–December fi ...