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Cognizant Technology Solutions Corp.

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Cognizant reported mixed third-quarter 2015 results with revenues topping the Zacks Consensus Estimate but earnings missing the expectations. The company has also increased its guidance for both top and bottom lines in 2015. Cognizant is expected to benefit from strong demand for high quality, lower cost technology services. Based on its global delivery model and expanding capacity in low-cost areas in India, China, the Philippines and Latin America, the company remains well-positioned in the outsourcing market. However, intense competition in the IT service industry, rising wages and customer concentration remain the headwinds in the near term. Additionally, the company's financials are expected to be impacted atleast in the near-term due to the termination of the Health Net contract.

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