Page 3 - Cognizant

Cognizant Q3 profit down 16.5%, 2023 revenue guidance at -0.7% to flat

The revenue for Q4 is expected to be in the range of $4.69-$4.82 bn, a fall of 4% to 1.2% in constant currency, due to furloughs and lower number of working days in the Dec quarter

Cognizant appoints Wipro's Jatin Dalal as its next chief financial officer

Dalal will report to Ravi Kumar S, Cognizant's Chief Executive Officer (CEO), who joined the company last October

Cognizant liable to pay dividend distribution tax on shares buyback: ITAT

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has dismissed an appeal of Cognizant Technology Solutions India and ruled that the company is liable to pay Dividend Distribution Tax (DDT) on buyback of Rs 19,000 crore worth of shares under a scheme of arrangement. Dismissing the appeal of Cognizant Technology Solutions India, ITAT held that the consideration paid by the company for purchase of its own shares in accordance with the scheme sanctioned by the Madras High Court "amounts to distribution of accumulated profits which entails release of all or part of assets of a company on reduction of capital which attracts provisions of Sec.2(22) of the Income Tax Act, 1961." Cognizant Technology Solutions in the assessment year 2017-18 purchased 94,00,534 equity shares of face value Rs 10 from its shareholders based in the US and Mauritius at Rs 20,297 apiece for a total consideration of Rs 19,080.26 crore in accordance with a scheme approved by the Madras High Court. On ..

Nasscom appoints Cognizant chairman, MD Rajesh Nambiar as new chairperson

Nambiar has previously served as the Vice Chairperson of Nasscom and will succeed Anant Maheshwari, Former President, of Microsoft India as its new chairperson

We are infusing GenAI into all our core offerings, says Cognizant CEO

Kumar cited the example of a GenAI-enabled conversational virtual assistant (VA) that Cognizant has introduced to help clients reimagine experiences beyond chatbots

Cognizant Q2 profit down 19.7%, retains 2023 revenue growth guidance

Chief Financial Officer Jan Siegmund to retire in early 2024 but plans to stay in his role until the company identifies a successor and transition is completed

Cognizant seals $800 million deal with California-based Gilead Sciences

Agreement includes renewal and expansion of various IT services over next five years

More women in Indian boardrooms, but mainly as independent directors

Overall representation has been increasing since Companies Act 2013

Cognizant appoints six women executives as senior vice-presidents

Sailaja Josyula promoted as SVP; she is also the company's centre head in Hyderabad

Cognizant, ServiceNow form partnership to build $1 billion business

The key areas that the group will focus on operational effectiveness, enhanced experience and expedited innovation

Cognizant Q1 profit up 3%; personnel-related action to impact 3,500 staff

IT services company Cognizant posted a 3 per cent year-on-year rise in net income for the January-March quarter, gave muted guidance for the full year 2023 revenue and said its new 'NextGen programme' aimed at simplifying operating model and optimising corporate functions will impact nearly 3,500 employees. The drive for simplification will include operating with fewer layers in an effort to enhance agility and enable faster decision-making, the company said about the 'NextGen programme'. The net income rose to USD 580 million during the three months ended March 31, 2023, against USD 563 million in the year-ago period. The revenue dipped marginally to USD 4,812 million in the just-ended quarter, from USD 4826 million in the same period of the previous year. Cognizant follows January-December financial year. "Full-year 2023 revenue is expected to be USD 19.2 to 19.6 billion, or a decline of 1.2 per cent to growth of 0.8 per cent, or a decline of 1 per cent to growth of 1 per cent in

Cognizant rejig to cost $400 mn over 2 years, to lay off 3,500 employees

The company's bookings for the quarter stood at $25.6 billion on a trailing 12-month basis, up from $24.1 billion in the fourth quarter (Q4) of 2022

Cognizant to focus on increasing presence in smaller Indian cities

International IT services company says it will lay off 3,500 employees and redistribute physical workplaces

Cognizant to lay off 3,500 employees in 2023 amid declining revenue

In the quarter ended March 31, the company reported a margin of 14.6%, among the lowest in the industry

Top-level exits at Infosys do not impact long-term growth: Experts

Mohit Joshi has joined Tech Mahindra as its CEO and MD. Experts have said that the development is consequential given the macroeconomic circumstances

Our new mantra is to bring back growth: Cognizant India CMD Rajesh Nambiar

We have added advanced solution capabilities, programme management and project management capabilities and it is important for us, says Rajesh Nambiar, chairman and MD, Cognizant India

Cognizant Q4 net profit down 9.6% YoY, meets annual guidance for FY22

IT services firm reports rise in headcount, says voluntary attrition declining

Cognizant announces new services agreement worth $1 bn with CoreLogic

Nasdaq-listed IT company Cognizant on Thursday announced a new 10-year services agreement valued at about USD 1 billion with CoreLogic, a global property information, analytics and data-enabled solutions provider. The deal deepens the scope of the current collaboration with a focus on delivering strong solutions and customer experience through digital transformation and operational excellence, Cognizant said in a statement. "Cognizant and CoreLogic extend the decade-long relationship with USD 1 billion, ten-year services agreement," the statement added. Since 2011, Cognizant has been a service delivery partner, offering capabilities in application development and support, analytical modelling and domain-centric business process services to CoreLogic and its customers, primarily in the US mortgage and real estate markets. "Real estate, mortgage lifecycle, and insurance transactions depend on accurate, timely data and analytics. We are committed to helping CoreLogic provide this ...

Cognizant announces leadership change, names Ravi Kumar S as CEO

Kumar joins Cognizant after a 20-year career at Infosys, where he held various leadership roles, most recently serving as president from January 2016 through October 2022

Cognizant to power Garuda Aerospace's drones with advanced digital tools

IT major Cognizant on Thursday announced that it has signed a memorandum of understanding (MoU) with Garuda Aerospace, a homegrown drone startup, to power its drones with advanced digital tools