Key Developments: Cognizant Technology Solutions Corp (CTSH.OQ)

CTSH.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

GoWireless Deploys Cognizant Technology Solutions Corp's Cloud Based Solution-Business Standard
Tuesday, 11 Jun 2013 07:36am EDT 

Business Standard reported that Cognizant Technology Solutions Corp has successful deployment of a web based Order Management as a Service (OMaaS) platform for GoWireless. This implementation will help GoWireless to launch its online commerce capability and generate new levels of business performance, Cognizant said in a press release. OMaaS is one of Cognizant’s recently announced BusinessCloudSM solutions.  Full Article

Cognizant Technology Solutions Corp Among Five Vendors To Bag Network Rail It Deal-Business Standard
Wednesday, 5 Jun 2013 08:36am EDT 

Business Standard reported that UK-based Network Rail has roped in five IT vendors, including TCS, Cognizant Technology Solutions Corp and Accenture to design, build and manage its IT infrastructure in a deal estimated at GBP350 million. Network Rail has signed framework agreements with five IT suppliers as it begins to simplify its computing relationships. The agreements are designed to allow suppliers to take more ownership of designing, building and implementing IT solutions to support Network Rail, it said. Though financial details of the deal were not disclosed, sources said the deal size is worth over GBP 350 million.  Full Article

Cognizant Technology Solutions Corp Issues Q2 2013 Guidance; Revenue Guidance Above Analysts' Estimates; Reaffirms FY 2013 Guidance
Wednesday, 8 May 2013 06:00am EDT 

Cognizant Technology Solutions Corp announced that for second quarter of 2013, it expects revenue to be at least $2.13 billion and diluted earnings per share (EPS) to be $0.97 on a GAAP basis and $1.06 on a non-GAAP basis. For fiscal 2013, it expects revenue expected to be at least $8.60 billion. Diluted EPS is expected to be at least $3.95 on a GAAP basis and $4.31 on a non-GAAP basis. According to I/B/E/S Estimates, analysts' on an average were expecting the Company to report revenue of $2.11 billion and EPS of $0.97 for second quarter of 2013; revenue of $8.62 billion for fiscal 2013.  Full Article

Cognizant Technology Solutions Corp Issues Q1 2013 Guidance; EPS Guidance Above Analysts' Estimates; Issues FY 2013 Guidance Above Analysts' Estimates
Thursday, 7 Feb 2013 06:00am EST 

Cognizant Technology Solutions Corp announced that for first quarter of 2013, it expects revenue to be at least $2.0 billion. Diluted earnings per share (EPS) is expected to be $0.92 on a GAAP basis and $1.01 on a non-GAAP basis. For fiscal 2013, it expects revenue expected to be at least $8.60 billion. Diluted EPS is expected to be at least $3.95 on a GAAP basis and $4.31 on a non-GAAP basis. According to I/B/E/S Estimates, analysts' on an average were expecting the Company to report revenue of $2.0 billion and EPS of $0.93 for first quarter of 2013; revenue of $8.57 billion and EPS of $4.0 for fiscal 2013.  Full Article

Rabobank Selects Cognizant Technology Solutions Corp To Enhance Operational Efficiencies, Drive Greater Levels Of Business Effectiveness
Wednesday, 16 Jan 2013 03:00am EST 

Cognizant Technology Solutions Corp announced that it has been selected by Rabobank to deliver a broad portfolio of application services to drive operational efficiencies and improve productivity. Under the five-year agreement, Cognizant will provide application development, maintenance, and testing services to Rabobank, leveraging consulting capabilities and financial industry. Cognizant will combine global talent base, a team of Dutch professionals with deep local business insight, and global practices to help Rabobank reduce the total cost of ownership, and ensure high quality and consistency across applications portfolio. Cognizant will also help Rabobank optimize strategic IT investments to achieve greater levels of efficiency and realize business objectives.  Full Article

Cognizant Technology Solutions Corp To Acquire Six Companies Of C1 Group
Friday, 21 Dec 2012 06:00am EST 

Cognizant Technology Solutions Corp announced that it has entered into a definitive agreement to acquire six companies of the C1 Group, an independent consulting and IT services firm based in Hamburg, Germany. The terms of the transaction were not disclosed. Under the terms of the agreement, about 500 professionals across multiple locations in Germany and Switzerland will join Cognizant. The transaction is expected to close in the first quarter of 2013.  Full Article

Cognizant Technology Solutions Corp Issues Q4 2012 Guidance In Line With Analysts' Estimates; Reaffirms FY 2012 Revenue Guidance; Raises FY 2012 EPS Guidance
Wednesday, 7 Nov 2012 06:00am EST 

Cognizant Technology Solutions Corp announced that for the fourth quarter of 2012, it revenue to be at least $1.94 billion, diluted EPS to be $0.91 on a GAAP basis and $0.97 on a non-GAAP basis, which excludes estimated stock-based compensation expense. For fiscal 2012, it now expects revenue to be at least $7.34 billion, diluted EPS to be at least $3.42 on a GAAP basis, and $3.69 on a non-GAAP basis, which excludes estimated stock-based compensation expense. EPS guidance excludes any fourth quarter non-operating foreign currency exchange gain or loss. According to I/B/E/S Estimates, analysts' on an average were expecting the Company to report revenue of $1.87 billion and EPS of $0.87 for fourth quarter 2012; revenue of $7.34 billion and EPS of $3.37 for fiscal 2012.  Full Article

Cognizant Technology Solutions Corp and Monitise Plc form Mobile Money Alliance to Help Global Financial Institutions Capitalize on Mobile Money Opportunity
Thursday, 4 Oct 2012 02:00am EDT 

Cognizant Technology Solutions Corp and Monitise Plc announced a global alliance that will help financial institutions embrace the mobile channel of interaction, and develop effective and mobile banking, payments, and commerce solutions. Combining Cognizant's financial services and mobility expertise with Monitise's mobile money platform, the alliance will help global financial institutions speedily respond to the mobile money opportunity that is gathering momentum.  Full Article

Cognizant Technology Solutions Corp. Issues Q3 Guidance; EPS Guidance Above Analysts' Estimates; Reaffirms FY 2012 Revenue Guidance; Raises FY 2012 EPS Guidance
Monday, 6 Aug 2012 06:00am EDT 

Cognizant Technology Solutions Corp. announced that for third quarter of 2012, it expects revenue to be at least $1.875 billion and diluted earnings per share (EPS) is expected to be $0.86 on a GAAP basis and $0.92 on a non-GAAP basis, which excludes estimated stock-based compensation expense. The Company also announced that for fiscal 2012, it expects revenue to be at least $7.34 billion, up at least 20% compared to 2011 and diluted EPS to be at least $3.38 on a GAAP basis, and $3.64 on a non-GAAP basis, which excludes estimated stock-based compensation expense. EPS guidance excludes any future non-operating foreign currency exchange gain or loss. According to I/B/E/S Estimates, analysts' on an average were expecting the Company to report revenue of $1.879 billion and EPS of $0.86 for third quarter 2012; revenue of $3.43 billion and EPS of $3.43 for fiscal 2012.  Full Article

Cognizant Technology Solutions Corp. Selected By Philips To Provide Comprehensive Business Transformation Services Globally To Increase Business Agility And Competitiveness
Monday, 23 Jul 2012 11:30pm EDT 

Cognizant Technology Solutions Corp. announced that it has been selected by Royal Philips Electronics, a global leader in healthcare, lighting, and consumer lifestyle solutions, as a strategic partner to drive a broad range of technology-enabled business transformation and growth programs. Under the terms of the multiyear engagement, Cognizant will provide a comprehensive range of consulting and application services globally to help Philips consolidate, rationalize, and enhance its IT landscape for improved operational efficiency, business agility, and governance to deliver superior customer service. Cognizant's engagement will enable Philips to transition the IT organization to a platform and output-based managed services model across multiple business lines and corporate functions, thereby enabling Philips to variablize its cost structure, drive structural savings, and free up resources to create higher value business capabilities. Financial details of the deal were not disclosed. In harmonizing and supporting business processes with scalable, business-aligned technology platforms, Cognizant will help Philips improve the business value of IT, obtain deeper visibility into its demand chain, and respond more effectively to the needs of its markets, businesses, and functions.  Full Article

Higher European demand boosts Cognizant revenue

- Cognizant Technology Solutions Corp forecast current-quarter revenue above market expectations after an 18 percent rise in the first quarter, helped by strong demand from Europe.

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