From Nasdaq, Inc.:

Cognizant Technology Solutions (CTSH) is collaborating with Fortrea Holdings Inc. (FTRE) to transform Fortrea’s global technology environment, using next-generation hybrid cloud and platforms to drive digital innovation in pharmaceuticals, biotech, and medical devices sectors. CTSH’s expanding presence in high-growth sectors, particularly healthcare services, has helped it outperform the Zacks Computer & Technology sector with a return of 12.3% in the past six months.

Cognizant’s strategic focus on driving technological innovation across various sectors, including healthcare, is supported by its strong partner base, including Alphabet (GOOGL) and ServiceNow (NOW). For example, Cognizant is supporting Bendigo and Adelaide Bank in rebuilding its digital banking system using Google Cloud. Cognizant has also deepened its relationship with ServiceNow through the launch of Telco Assurance 360, a cloud-based, AI-powered solution for telecommunications companies. The company is also strengthening its position by acquiring Thirdera and implementing the Tealium Customer Data Platform at The University of Melbourne.

Despite this, Cognizant’s financial performance has been affected by weakness in the Financial Services segment. The company expects fourth-quarter 2023 revenues between $4.69 billion and $4.82 billion, reflecting a decline of 3.1% to an increase of 0.3%. Moreover, its Zacks Rank currently rates as 3# (Hold).

As part of Zacks Investment Research, the views and opinions expressed do not necessarily reflect those of Nasdaq, Inc.



Read more: Cognizant (CTSH) Expands Healthcare Footprint With Fortrea Deal