Cognizant upgrades AI platform with new tools and partnerships, aiming for revenue growth

From Nasdaq: 2024-10-16 13:04:00

Cognizant Technology Solutions announces enhancements to its Cognizant Neuro AI platform, aiding enterprises in identifying and developing AI use cases for revenue growth. The upgraded platform includes tools like Opportunity Finder and large language model assistants, catering to various industries from healthcare to finance.

Cognizant introduces Cognizant Neuro Edge platform, enabling businesses to leverage AI at the edge for decision-making and operational stability while reducing data costs. Partnering with Texas Dow Employees Credit Union, CTSH aims to enhance operational efficiency and customer experience through its AI-driven platform.

CTSH benefits from expanding partner base including Microsoft, Google Cloud, and Victory Capital Holdings. Securing large contracts, launching healthcare solutions on Google Cloud, and collaborating with Microsoft on generative AI initiatives have contributed to growth. The company’s strategic agreements indicate momentum and growth prospects in different sectors.

Cognizant’s strong portfolio and expanding partner base suggest solid top-line growth potential. However, challenging macro environment may impact spending rates in the Financial Services segment. CTSH expects third-quarter revenues to range between $4.89 billion and $4.96 billion, with a slight decline or increase compared to the previous year. Earnings are expected to decline year-over-year.

Cognizant’s stocks are considered cheap with a Value Score of B, but its Growth Score of F indicates risks. With a Zacks Rank #3 (Hold), it might be prudent to wait for a more favorable entry point. The company’s focus on AI and expanding customer base positions it well for growth in industries like Artificial Intelligence and Internet of Things.



Read more at Nasdaq: Can Cognizant’s Enhanced AI Platform Push the CTSH Stock Higher?