Cognizant (CTSH), Clario Team Up to Streamline Healthcare
Cognizant Technology Solution’s CTSH expansion into the life science and healthcare domain is gaining momentum, driven by an expanding partner base. It is teaming up with Clario, NVDIA NVDA and Microsoft MSFT to enhance its offerings in this domain further.
Cognizant has recently been selected by the prominent healthcare research technology company, Clario, aimed at enhancing Clario’s global IT infrastructure and applications.
Throughout its five-year relationship, Cognizant will leverage its expertise in automation and digital technologies to enhance Clario’s operational efficiencies and drive innovation in the clinical trial space.
Meanwhile, Cognizant joined forces with NVIDIA to apply generative AI technology to accelerate drug discovery.
Cognizant Technology Solutions Corporation Price and Consensus
Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote
Cognizant also collaborated with Microsoft to integrate generative AI into healthcare administration through Trizetto Assistant on Facets, leveraging Azure Open AI Service and Semantic Kernal to enhance productivity, efficiency and patient care while ensuring regulatory compliance and data security.
Cognizant’s Prospects Driven by Strong Partner Base
Cognizant’s strong partner base, which includes the likes of Clario, NVIDIA, Microsoft, Alphabet GOOGL, and Cermaq, has been a key catalyst.
In January, Cognizant collaborated with Microsoft to launch the Innovation Assistant, a generative AI-powered tool on Azure Open AI Service. It enhanced its internal innovation program, Bluebolt, to foster creativity and problem-solving among teams.
Cognizant and Alphabet’s cloud business, Google Cloud, recently expanded its partnership to integrate Gemini for Google Cloud, enhancing software delivery lifecycle and developer productivity with AI-powered tools.
In a renewed collaboration with Cermaq Group AS, Cognizant plans to modernize and strengthen its technology infrastructure to achieve cost efficiencies, accelerate product launches and accelerate worldwide digital transformation initiatives.
However, Cognizant’s shares have declined 4.7% against the Zacks Computer & Technology sector’s rise of 12.5% year to date.
The challenging macroeconomic environment, along with weakness in the Financial Services segment, has been a concern affecting CTSH’s prospects.
This Zacks Rank #3 (Hold) company expects first-quarter 2024 revenues to be between $4.68 billion and $4.76 billion, indicating a decline of 2.7% to 1.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for the first quarter is pegged at $4.73 billion, indicating a year-over-year decline of 1.79%.
The consensus mark for earnings is pegged at $1.11 per share, unchanged in the past 30 days.
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