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Cognizant (CTSH) Creates New Group to Expand Into Blue Economy
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Cognizant (CTSH - Free Report) announced the formation of a new business group called Cognizant Ocean to expand its services in the “Blue Economy,” leveraging digital technologies, including AI and data analytics.
Blue Economy companies encompass a broad range of sectors, including shipping, marine transportation, offshore oil and gas, marine renewables, aquaculture and marine conservation. These companies are facing challenges related to sustainability, environmental impact and climate change.
Cognizant Ocean will help Blue Economy companies to be more sustainable and efficient. Apart from improving business outcomes, Cognizant will help reduce their carbon output and decarbonize the oceans.
The company also announced a partnership with Tidal, a project inside X, Alphabet’s (GOOGL - Free Report) Moonshot Factory. Under the collaboration, Tidal’s ocean information platform will be widely available to the aquaculture market. Tidal leverages innovation in underwater perception, machine learning, AI, and automation to gather and analyze data.
Meanwhile, Cognizant recently expanded its partnership with AT&T by joining the AT&T Connected Climate Initiative, an industry consortium dedicated to eliminating one billion tons of CO2 emissions by 2035.
Cognizant Technology Solutions Corporation Price and Consensus
Cognizant rides on a strong partner base, with the likes of Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) , Cleo and Alphabet, which enhances AI and cloud solutions to accelerate the digital transformation of its clientele.
The company is working with Amazon to build a robust digital platform on AWS, driving transformative cloud innovation. It aims to provide richer customer experiences through three core capabilities, Cloud Consult, Cloud Migrate and Cloud Operate.
Microsoft and Cognizant collaborated to integrate the latter’s TriZetto healthcare products with Microsoft Cloud for Healthcare, giving healthcare payers and providers easy access to cutting-edge technology solutions and improving interoperability to optimize business operations.
Cognizant and Google Cloud expanded their partnership to accelerate enterprises' application of generative AI with highly-skilled AI experts, and new solutions focused on creating business value and deep experience. It provides a suite of transformative solutions for all industries, leveraging Google Cloud's generative AI, predictive AI and analytics capabilities.
Cognizant also partnered with Cleo’s cloud platform to support the Cognizant Cloud Integration Brokerage for the enterprise market.
CTSH is expected to benefit from healthy bookings and a robust pipeline that includes a strong mix of large new opportunities.
Nevertheless, shares of Cognizant have underperformed the Zacks Computer and Technology sector year to date. While CTSH has returned 11.4% year to date, the sector has gained 36.7% in the same time frame.
The recent underperformance of Cognizant reflects slowing growth, primarily due to stiff competition, challenging macroeconomic conditions and unfavorable forex.
This Zacks Rank #3 (Hold) company expects second-quarter 2023 revenues between $4.83 billion and $4.88 billion, indicating a year-over-year decline of 1% to flat on a constant-currency basis. Unfavorable forex is expected to hurt the top line by 60 basis points (bps) while acquisitions are expected to contribute 100 bps. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $4.81 billion, indicating a decline of 1.87% from the year-ago quarter’s reported figure.
The consensus mark for earnings has declined by a couple of cents to 97 cents per share in the past 30 days, indicating a year-over-year fall of 14.91%.
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Cognizant (CTSH) Creates New Group to Expand Into Blue Economy
Cognizant (CTSH - Free Report) announced the formation of a new business group called Cognizant Ocean to expand its services in the “Blue Economy,” leveraging digital technologies, including AI and data analytics.
Blue Economy companies encompass a broad range of sectors, including shipping, marine transportation, offshore oil and gas, marine renewables, aquaculture and marine conservation. These companies are facing challenges related to sustainability, environmental impact and climate change.
Cognizant Ocean will help Blue Economy companies to be more sustainable and efficient. Apart from improving business outcomes, Cognizant will help reduce their carbon output and decarbonize the oceans.
The company also announced a partnership with Tidal, a project inside X, Alphabet’s (GOOGL - Free Report) Moonshot Factory. Under the collaboration, Tidal’s ocean information platform will be widely available to the aquaculture market. Tidal leverages innovation in underwater perception, machine learning, AI, and automation to gather and analyze data.
Meanwhile, Cognizant recently expanded its partnership with AT&T by joining the AT&T Connected Climate Initiative, an industry consortium dedicated to eliminating one billion tons of CO2 emissions by 2035.
Cognizant Technology Solutions Corporation Price and Consensus
Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote
Cognizant Benefits From Expanding Partner Base
Cognizant rides on a strong partner base, with the likes of Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) , Cleo and Alphabet, which enhances AI and cloud solutions to accelerate the digital transformation of its clientele.
The company is working with Amazon to build a robust digital platform on AWS, driving transformative cloud innovation. It aims to provide richer customer experiences through three core capabilities, Cloud Consult, Cloud Migrate and Cloud Operate.
Microsoft and Cognizant collaborated to integrate the latter’s TriZetto healthcare products with Microsoft Cloud for Healthcare, giving healthcare payers and providers easy access to cutting-edge technology solutions and improving interoperability to optimize business operations.
Cognizant and Google Cloud expanded their partnership to accelerate enterprises' application of generative AI with highly-skilled AI experts, and new solutions focused on creating business value and deep experience. It provides a suite of transformative solutions for all industries, leveraging Google Cloud's generative AI, predictive AI and analytics capabilities.
Cognizant also partnered with Cleo’s cloud platform to support the Cognizant Cloud Integration Brokerage for the enterprise market.
CTSH is expected to benefit from healthy bookings and a robust pipeline that includes a strong mix of large new opportunities.
Nevertheless, shares of Cognizant have underperformed the Zacks Computer and Technology sector year to date. While CTSH has returned 11.4% year to date, the sector has gained 36.7% in the same time frame.
The recent underperformance of Cognizant reflects slowing growth, primarily due to stiff competition, challenging macroeconomic conditions and unfavorable forex.
This Zacks Rank #3 (Hold) company expects second-quarter 2023 revenues between $4.83 billion and $4.88 billion, indicating a year-over-year decline of 1% to flat on a constant-currency basis. Unfavorable forex is expected to hurt the top line by 60 basis points (bps) while acquisitions are expected to contribute 100 bps. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $4.81 billion, indicating a decline of 1.87% from the year-ago quarter’s reported figure.
The consensus mark for earnings has declined by a couple of cents to 97 cents per share in the past 30 days, indicating a year-over-year fall of 14.91%.