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Cognizant (CTSH) & Microsoft Expand Healthcare Partnership
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Cognizant Technology Solution (CTSH - Free Report) and Microsoft (MSFT - Free Report) announced the expansion of their partnership in the healthcare market by integrating CTSH’s TriZetto with Microsoft Cloud for Healthcare.
The two also collaborated to develop and run Cognizant's current and future healthcare SaaS solutions on Microsoft Azure.
TriZetto is a portfolio of software solutions that aims at improving the member and patient experience, as well as saving costs at the same time. It includes more than 347K healthcare providers, 8K+ health insurance payers, and 2.6 billion annual transactions on its Facets and QNXT platforms.
Everest Group recently named Cognizant as a leader of healthcare cloud-based core administration, thanks to TriZetto’s extensive portfolio of services, strong vertical and technical capabilities, and positive client feedback.
Cognizant Technology Solutions Corporation Price and Consensus
The TriZetto-Azure combination will give healthcare providers access to the latest technology solutions, streamline claims management, and improve interoperability to optimize business operations, and deliver better patient and member experiences.
What Awaits Cognizant’s Prospects in 2023?
Cognizant’s extended partnership with Microsoft is expected to boost the former’s footprint in the healthcare market.
In fourth-quarter 2022, healthcare revenues (29.5% of revenues) increased 5.4% year over year at constant currency to $1.43 billion. Cognizant witnessed some weakness due to the challenging macro environment and regulatory complexity.
For the first quarter of 2023, the company expects revenues between $4.71 billion and $4.76 billion, indicating a decline of 1% to flat on a constant-currency basis.
The Zacks Consensus Estimate for revenues is pegged at $4.74 billion, indicating a 1.86% year-over-year decline. The consensus estimate for earnings stands at $1.05 per share, unchanged in the past 30 days.
Zacks Rank & Stocks to Consider
Cognizant currently has a Zacks Rank #4 (Sell).
Cognizant shares have underperformed the Zacks Business – Software Services industry in the year-to-date period. While CTSH shares have gained 5.6%, the industry has risen 6.8%.
MSCI and ePlus shares have gained 14.7% and 13.8% year to date, respectively.
The Zacks Consensus Estimate for MSCI’s first-quarter 2023 is pegged at $2.98 per share, down 1.7% over the past 30 days. The consensus estimate for ePlus’ fourth-quarter fiscal 2023 earnings stands at $1.06 per share, unchanged over the same timeframe.
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Cognizant (CTSH) & Microsoft Expand Healthcare Partnership
Cognizant Technology Solution (CTSH - Free Report) and Microsoft (MSFT - Free Report) announced the expansion of their partnership in the healthcare market by integrating CTSH’s TriZetto with Microsoft Cloud for Healthcare.
The two also collaborated to develop and run Cognizant's current and future healthcare SaaS solutions on Microsoft Azure.
TriZetto is a portfolio of software solutions that aims at improving the member and patient experience, as well as saving costs at the same time. It includes more than 347K healthcare providers, 8K+ health insurance payers, and 2.6 billion annual transactions on its Facets and QNXT platforms.
Everest Group recently named Cognizant as a leader of healthcare cloud-based core administration, thanks to TriZetto’s extensive portfolio of services, strong vertical and technical capabilities, and positive client feedback.
Cognizant Technology Solutions Corporation Price and Consensus
Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote
The TriZetto-Azure combination will give healthcare providers access to the latest technology solutions, streamline claims management, and improve interoperability to optimize business operations, and deliver better patient and member experiences.
What Awaits Cognizant’s Prospects in 2023?
Cognizant’s extended partnership with Microsoft is expected to boost the former’s footprint in the healthcare market.
In fourth-quarter 2022, healthcare revenues (29.5% of revenues) increased 5.4% year over year at constant currency to $1.43 billion. Cognizant witnessed some weakness due to the challenging macro environment and regulatory complexity.
For the first quarter of 2023, the company expects revenues between $4.71 billion and $4.76 billion, indicating a decline of 1% to flat on a constant-currency basis.
The Zacks Consensus Estimate for revenues is pegged at $4.74 billion, indicating a 1.86% year-over-year decline. The consensus estimate for earnings stands at $1.05 per share, unchanged in the past 30 days.
Zacks Rank & Stocks to Consider
Cognizant currently has a Zacks Rank #4 (Sell).
Cognizant shares have underperformed the Zacks Business – Software Services industry in the year-to-date period. While CTSH shares have gained 5.6%, the industry has risen 6.8%.
MSCI (MSCI - Free Report) and ePlus (PLUS - Free Report) are some better-ranked stocks in the same industry. Both companies carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
MSCI and ePlus shares have gained 14.7% and 13.8% year to date, respectively.
The Zacks Consensus Estimate for MSCI’s first-quarter 2023 is pegged at $2.98 per share, down 1.7% over the past 30 days. The consensus estimate for ePlus’ fourth-quarter fiscal 2023 earnings stands at $1.06 per share, unchanged over the same timeframe.