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Cognizant (CTSH) Boosts Data Analytics With Inawisdom Buyout
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Cognizant Technology Solutions (CTSH - Free Report) recently announced the acquisition of a United Kingdom-based consultancy, Inawisdom, which specializes in AI, machine learning and data analytics.
Inawisdom’s Rapid Analytics and Machine Learning Platform (RAMP), developed using Amazon’s (AMZN - Free Report) cloud platform Amazon Web Services’ (AWS), helps Cognizant deliver machine learning solutions and end-to-end cloud-native artificial intelligence-driven data analytics to its customers.
Further, the acquisition enables the company to drive data modernization and facilitate data-driven decision-making for organizations. This enhances customer experience by providing agility benefits, intelligent business decisions and a reduction in costs.
Markedly, Cognizant’s shares have gained 31.5% year to date compared with the Zacks Business - Software Services industry’s growth of 47.5%.
Cognizant Technology Solutions Corporation Price, Consensus and EPS Surprise
Cognizant has pursued nine acquisitions so far in 2020, which includes the recent buyout of Inawisdom. Moreover, it has invested above $1.1 billion so far this year on acquisitions.
Cognizant focuses on expanding its footprint into cloud transformation, digital engineering, data and artificial intelligence, and Internet of Things (IoT) capabilities with these acquisitions.
In November, Cognizant completed the acquisition of Bright Wolf, a technology services provider. The integration of the company’s expertise in foundational Industrial IoT technologies with Bright Wolf's experience in production-class Industrial IoT deployments expands the former’s portfolio of IoT solutions.
Additionally, in October, the company announced the acquisition of 10th Magnitude, a Chicago-based cloud specialist. The acquisition deepens Microsoft (MSFT - Free Report) Azure’s cloud-computing expertise within Cognizant's New Microsoft Business Group in the United States.
Further, the buyout of global consultancy company, Collaborative Solutions, which specializes in Workday (WDAY - Free Report) enterprise cloud applications, extends Cognizant’s cloud offerings by adding new finance, and human resource advisory and implementation services to the portfolio.
Moreover, acquisitions of Merisoft, Zenith Technologies, Contino, Code Zero, El-Technologies Tin Roof Software and New Signature have fueled international expansion and enhanced the company’s digital capabilities along with widening its customer base.
Notably, Cognizant’s bookings grew 25% year over year, driven by continued strength in digital bookings led by the ongoing digital transformation wave.
Moreover, this Zacks Rank #3 (Hold) company intends to fuel top-line growth with the expansion of its digital capabilities portfolio with the acquisitions and boost its enterprise clientele over the long haul. Furthermore, the company anticipates the closed acquisitions to drive revenue growth of 200 basis points in 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Cognizant (CTSH) Boosts Data Analytics With Inawisdom Buyout
Cognizant Technology Solutions (CTSH - Free Report) recently announced the acquisition of a United Kingdom-based consultancy, Inawisdom, which specializes in AI, machine learning and data analytics.
Inawisdom’s Rapid Analytics and Machine Learning Platform (RAMP), developed using Amazon’s (AMZN - Free Report) cloud platform Amazon Web Services’ (AWS), helps Cognizant deliver machine learning solutions and end-to-end cloud-native artificial intelligence-driven data analytics to its customers.
Further, the acquisition enables the company to drive data modernization and facilitate data-driven decision-making for organizations. This enhances customer experience by providing agility benefits, intelligent business decisions and a reduction in costs.
Markedly, Cognizant’s shares have gained 31.5% year to date compared with the Zacks Business - Software Services industry’s growth of 47.5%.
Cognizant Technology Solutions Corporation Price, Consensus and EPS Surprise
Cognizant Technology Solutions Corporation price-consensus-eps-surprise-chart | Cognizant Technology Solutions Corporation Quote
Acquisitions to Strengthen Digital Capabilities
Cognizant has pursued nine acquisitions so far in 2020, which includes the recent buyout of Inawisdom. Moreover, it has invested above $1.1 billion so far this year on acquisitions.
Cognizant focuses on expanding its footprint into cloud transformation, digital engineering, data and artificial intelligence, and Internet of Things (IoT) capabilities with these acquisitions.
In November, Cognizant completed the acquisition of Bright Wolf, a technology services provider. The integration of the company’s expertise in foundational Industrial IoT technologies with Bright Wolf's experience in production-class Industrial IoT deployments expands the former’s portfolio of IoT solutions.
Additionally, in October, the company announced the acquisition of 10th Magnitude, a Chicago-based cloud specialist. The acquisition deepens Microsoft (MSFT - Free Report) Azure’s cloud-computing expertise within Cognizant's New Microsoft Business Group in the United States.
Further, the buyout of global consultancy company, Collaborative Solutions, which specializes in Workday (WDAY - Free Report) enterprise cloud applications, extends Cognizant’s cloud offerings by adding new finance, and human resource advisory and implementation services to the portfolio.
Moreover, acquisitions of Merisoft, Zenith Technologies, Contino, Code Zero, El-Technologies Tin Roof Software and New Signature have fueled international expansion and enhanced the company’s digital capabilities along with widening its customer base.
Notably, Cognizant’s bookings grew 25% year over year, driven by continued strength in digital bookings led by the ongoing digital transformation wave.
Moreover, this Zacks Rank #3 (Hold) company intends to fuel top-line growth with the expansion of its digital capabilities portfolio with the acquisitions and boost its enterprise clientele over the long haul. Furthermore, the company anticipates the closed acquisitions to drive revenue growth of 200 basis points in 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>