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Cognizant (CTSH) Partners With Orkla to Redefine IT Services
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Cognizant Technology Solutions’ (CTSH - Free Report) inked an extended partnership agreement with Orkla IT. Per the terms, the company will help Orkla modernize its delivery model to support the business transformation.
Cloud-based models offer more modern, agile and secure IT infrastructure. Offering cloud migration and operational IT services to Orkla will facilitate a more agile and flexible way of delivering IT services, with more capacity and innovation.
Cognizant will also provide SAP and infrastructure services, enabling Orkla IT to innovate and improve according to future business opportunities.
Cognizant has partnered with Orkla on several digital transformation projects in areas such as IT infrastructure, Digital Workplace, SAP, Public Cloud and Security. Its solutions help Orkla's IT services to be more cost-effective, stable and aligned to their business goals.
Cognizant Technology Solutions Corporation Price and Consensus
Cognizant rides on a strong partner base with the likes of Alphabet (GOOGL - Free Report) , Microsoft (MSFT - Free Report) and Amazon (AMZN - Free Report) that enhances Cognizant’s AI and cloud solutions to accelerate digital transformation and expand clientele.
Cognizant partnered with Alphabet’s Google Cloud to accelerate enterprises' application of generative AI, new solutions focused on creating business value and deep experience. It leverages on Google Cloud's generative AI, predictive AI and analytic capabilities to provide a suite of transformative solutions for all industries.
Microsoft and Cognizant collaborated to integrate Cognizant's TriZetto healthcare products with Microsoft Cloud for Healthcare. The collaboration gave healthcare payers and providers easy access to cutting-edge technology solutions and improving interoperability.
Cognizant works with Amazon to build a robust digital platform on AWS Cloud driving transformative cloud innovation. It aims to provide richer customer experiences through three core capabilities — Cloud Consult, Cloud Migrate and Cloud Operate.
Cognizant’s Prospects not so Bright
Shares of Cognizant have increased 13.8% year to date compared with the Zacks Computer and Technology sector’s increase of 37.2% in the same time frame.
The recent underperformance in Cognizant’s shares reflects slowing growth, primarily due to stiff competition, challenging macroeconomic conditions and unfavourable 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. Unfavourable forex is expected to hurt the top line by 60 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 fiscal 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 remained unchanged at 97 cents per share in the past 30 days, indicating a year-over-year fall of 14.91%.
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Cognizant (CTSH) Partners With Orkla to Redefine IT Services
Cognizant Technology Solutions’ (CTSH - Free Report) inked an extended partnership agreement with Orkla IT. Per the terms, the company will help Orkla modernize its delivery model to support the business transformation.
Cloud-based models offer more modern, agile and secure IT infrastructure. Offering cloud migration and operational IT services to Orkla will facilitate a more agile and flexible way of delivering IT services, with more capacity and innovation.
Cognizant will also provide SAP and infrastructure services, enabling Orkla IT to innovate and improve according to future business opportunities.
Cognizant has partnered with Orkla on several digital transformation projects in areas such as IT infrastructure, Digital Workplace, SAP, Public Cloud and Security. Its solutions help Orkla's IT services to be more cost-effective, stable and aligned to their business goals.
Cognizant Technology Solutions Corporation Price and Consensus
Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote
Cognizant Leverages on Strong Partnerships
Cognizant rides on a strong partner base with the likes of Alphabet (GOOGL - Free Report) , Microsoft (MSFT - Free Report) and Amazon (AMZN - Free Report) that enhances Cognizant’s AI and cloud solutions to accelerate digital transformation and expand clientele.
Cognizant partnered with Alphabet’s Google Cloud to accelerate enterprises' application of generative AI, new solutions focused on creating business value and deep experience. It leverages on Google Cloud's generative AI, predictive AI and analytic capabilities to provide a suite of transformative solutions for all industries.
Microsoft and Cognizant collaborated to integrate Cognizant's TriZetto healthcare products with Microsoft Cloud for Healthcare. The collaboration gave healthcare payers and providers easy access to cutting-edge technology solutions and improving interoperability.
Cognizant works with Amazon to build a robust digital platform on AWS Cloud driving transformative cloud innovation. It aims to provide richer customer experiences through three core capabilities — Cloud Consult, Cloud Migrate and Cloud Operate.
Cognizant’s Prospects not so Bright
Shares of Cognizant have increased 13.8% year to date compared with the Zacks Computer and Technology sector’s increase of 37.2% in the same time frame.
The recent underperformance in Cognizant’s shares reflects slowing growth, primarily due to stiff competition, challenging macroeconomic conditions and unfavourable 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. Unfavourable forex is expected to hurt the top line by 60 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 fiscal 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 remained unchanged at 97 cents per share in the past 30 days, indicating a year-over-year fall of 14.91%.