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Cognizant (CTSH) Rides on Expanding Clientele, Partner Base
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Cognizant Technology Solutions (CTSH - Free Report) is benefiting from an expanding customer base and strong partner base. Its robust pipeline of exciting opportunities is noteworthy.
Cognizant is actively strengthening its portfolio through close collaborations within industries like logistics, utility, travel and hospitality. Its latest partnership with The University of Melbourne (UoM) expands its footprint in the education domain.
Cognizant is poised to capitalize on the growing demand for data-driven solutions in the education sector through the UoM partnership.
As a global technology solutions provider, Cognizant has been selected to implement the Tealium Customer Data Platform (CDP) as part of UoM's strategic initiative to elevate personalized and data-centric experiences for its students, staff and alumni.
Cognizant Technology Solutions Corporation Price and Consensus
The latest move is in sync with the company’s focus on adapting to evolving technology trends and crafting data-driven, tailored solutions that drive innovation within each sector.
Cognizant is riding on a strong partner base with the likes of Alphabet (GOOGL - Free Report) and ServiceNow (NOW - Free Report) .
In partnership with Alphabet’s cloud offering Google Cloud, Cognizant is supporting Bendigo and Adelaide Bank — a major Australian retail bank — in rebuilding its digital banking system as part of the bank's broader transformation program.
Cognizant deepened its relationship with ServiceNow through the launch of Telco Assurance 360, a cloud-based, AI-powered solution designed to revolutionize service management strategies for telecommunications companies in the AI era.
Cognizant partnered with Intrum to deliver end-to-end digital integration and core modernization services, aiming to reduce costs, accelerate integration platform modernization and enhance customer services across 20 European countries.
Cognizant recently collaborated with Alm. Brand Group to automate outsourced business processes, including insurance policies, enhancing efficiency and customer experience, with plans to consolidate operations in its Centre of Excellence in Vilnius, LTU, by 2024.
Q4 View Not So Rosy
Cognizant expects fourth-quarter 2023 revenues between $4.69 billion and $4.82 billion, indicating a decline of 3.1% to an increase of 0.3%.
The company is suffering from weakness in the Financial Services segment. It continues to expect the challenging macro environment to hurt spending rates and affect top-line growth.
The Zacks Consensus Estimate for the fourth quarter is pegged at $4.76 billion, indicating a year-over-year decline of 1.6%.
The consensus mark for earnings is pegged at $1.04 per share, unchanged in the past 30 days and indicating year-over-year growth of 2.97%.
Zacks Rank & Stocks to Consider
Currently, CTSH has Zacks Rank #3 (Hold).
The stock has returned 22.6%, underperforming the Zacks Computer & Technology sector’s return of 43.6% year to date.
Image: Bigstock
Cognizant (CTSH) Rides on Expanding Clientele, Partner Base
Cognizant Technology Solutions (CTSH - Free Report) is benefiting from an expanding customer base and strong partner base. Its robust pipeline of exciting opportunities is noteworthy.
Cognizant is actively strengthening its portfolio through close collaborations within industries like logistics, utility, travel and hospitality. Its latest partnership with The University of Melbourne (UoM) expands its footprint in the education domain.
Cognizant is poised to capitalize on the growing demand for data-driven solutions in the education sector through the UoM partnership.
As a global technology solutions provider, Cognizant has been selected to implement the Tealium Customer Data Platform (CDP) as part of UoM's strategic initiative to elevate personalized and data-centric experiences for its students, staff and alumni.
Cognizant Technology Solutions Corporation Price and Consensus
Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote
Strong Portfolio Aids Cognizant’s Prospects
The latest move is in sync with the company’s focus on adapting to evolving technology trends and crafting data-driven, tailored solutions that drive innovation within each sector.
Cognizant is riding on a strong partner base with the likes of Alphabet (GOOGL - Free Report) and ServiceNow (NOW - Free Report) .
In partnership with Alphabet’s cloud offering Google Cloud, Cognizant is supporting Bendigo and Adelaide Bank — a major Australian retail bank — in rebuilding its digital banking system as part of the bank's broader transformation program.
Cognizant deepened its relationship with ServiceNow through the launch of Telco Assurance 360, a cloud-based, AI-powered solution designed to revolutionize service management strategies for telecommunications companies in the AI era.
Cognizant partnered with Intrum to deliver end-to-end digital integration and core modernization services, aiming to reduce costs, accelerate integration platform modernization and enhance customer services across 20 European countries.
Cognizant recently collaborated with Alm. Brand Group to automate outsourced business processes, including insurance policies, enhancing efficiency and customer experience, with plans to consolidate operations in its Centre of Excellence in Vilnius, LTU, by 2024.
Q4 View Not So Rosy
Cognizant expects fourth-quarter 2023 revenues between $4.69 billion and $4.82 billion, indicating a decline of 3.1% to an increase of 0.3%.
The company is suffering from weakness in the Financial Services segment. It continues to expect the challenging macro environment to hurt spending rates and affect top-line growth.
The Zacks Consensus Estimate for the fourth quarter is pegged at $4.76 billion, indicating a year-over-year decline of 1.6%.
The consensus mark for earnings is pegged at $1.04 per share, unchanged in the past 30 days and indicating year-over-year growth of 2.97%.
Zacks Rank & Stocks to Consider
Currently, CTSH has Zacks Rank #3 (Hold).
The stock has returned 22.6%, underperforming the Zacks Computer & Technology sector’s return of 43.6% year to date.
A better-ranked stock in the broader technology sector is BlackLine (BL - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BlackLine’s share has declined 8.8% on a year-to-date basis.
Long-term earnings growth rates for BL are pegged at 50.56%.