With demanding customers at the center of today's value chain, delivering engaging products and experiences is even more important. Cognizant Digital Business helps you engage customers by envisioning and building innovative products and experiences, developing go-to-market approaches and inventing disruptive new business models. Our strategists enable businesses to generate new growth, meaningful differentiation and real economic value. We begin with data science, human-centric design thinking and knowledge of your industry's most important processes. With these insights, we collaborate with you to inspire intelligent products, disruptive strategies, and new ways of engaging customers across every channel.
Cloud storage vendor Box and IT consulting firm Cognizant are teaming up to develop industry-specific cloud migration services. The tie up will have the two companies creating training, consulting and custom services for joint customers. Cognizant will also be Box's go-to systems integrations partner for customers moving business content from legacy environments over to Box. The companies plan to target businesses in the healthcare, life sciences, financial services, insurance, media, manufacturing, and retail markets. "Documents still sit at the core of many business processes today," said Sean Middleton, Cognizant COO.
IT outsourcing company Cognizant Technology Solutions reported first quarter financials on Friday with earnings landing above analyst expectations. But the company lowered the high end of its full year revenue guidance after experiencing its slowest quarterly revenue growth in nearly 14 years. Cognizant now expects 2016 revenue between 13.65 billion and 14 billion, compared with a prior range of 13.65 billion to 14.20 billion. For earnings Cognizant expects between 3.32 and 3.44 a share. Wall Street had projected 2016 earnings of 3.39 a share on revenue of 13.9 billion.
DIGITAL BUSINESS August 2017 2. 2 How Digital 2.0 Is Driving Banking's Next Wave of Change Digital Business EXECUTIVE SUMMARY In the last few years, a wave of digital technologies changed the banking landscape as we know it. Social and mobile altered the way banks engage with customers. Analytics enabled hyper- personalized offerings by making sense of large datasets. Cloud technologies shifted the computing paradigm from a Cap-Ex-oriented model to a more flexible Op-Ex model, enabling delivery of multiple business processes as services from third-party platforms. Now, a second wave of disruption, or Digital 2.0, is set to drive even more profound change.
Jesse Cohn, the 36-year old head of U.S. activism at hedge fund Elliott Management, is in the midst of one of the busiest years on Wall Street as he shakes up underperforming IT, software and security companies ranging from Citrix to Symantec and LifeLock. On Monday, Cohn unveiled his largest stock bet of the year, disclosing a $1.4 billion stake in IT consultancy Cognizant Technology Solutions Group and a plan for the $36 billion company to improve its operational and stock market performance. Elliott believes Cognizant shares are being held back by the company's focus on growing revenues over profit margins and its reluctance to increase stock buybacks, or offer a dividend, as it's grown into major player in the IT services business with over $13 billion in annual revenues. Prior to Monday, Cognizant shares were off over 10% year-to-date, underperforming the S&P 500 Index. Teaneck, NJ-based Cognizant's shares surged nearly 9% in early trading on Elliott's activist position and its plan to improve performance.