Cognizant Technology Solutions Acquires Thirdera, Expanding Workforce by 940 Employees

☀️Trending News

Cognizant Technology Solutions ($NASDAQ:CTSH) has recently acquired Thirdera, a software engineering and development company based in Seattle, Washington. This acquisition is expected to add 940 employees to the Teaneck-based firm’s workforce. Cognizant Technology Solutions is a multinational corporation that provides information technology, consulting and business process services. It is publicly traded on the NASDAQ under the ticker symbol “CTSH” and is based in the United States with offices around the world. The acquisition of Thirdera will bring a range of benefits to Cognizant Technology Solutions. These include additional resources to help higher levels of customer service, an accelerated path to digital transformation, and a larger pool of expertise in software engineering and development. This addition to the Cognizant workforce will allow the firm to expand its portfolio with more advanced solutions and services. The Thirdera team has a track record of successful projects in the healthcare, media, retail and finance industries. This move is expected to increase Cognizant’s customer base by providing improved services and solutions. The addition of 940 employees to the company’s existing team will also enhance its operational efficiency and customer service capabilities.

In addition, Thirdera’s expertise in software engineering and development will be a great asset for Cognizant Technology Solutions, further strengthening its position in the competitive marketplace.

Stock Price

On Thursday, COGNIZANT TECHNOLOGY SOLUTIONS (CTS) announced that it has acquired Thirdera, a leading provider of cloud-based solutions and services. The acquisition is expected to expand CTS’s presence in the cloud services market, adding 940 employees to its workforce. The acquisition is part of CTS’s expansion strategy, which has included investments into cloud-based technology and services. Thirdera offers several cloud-based products, such as its ‘CloudIQ’ platform, which provides customers with an end-to-end cloud experience. By acquiring Thirdera, CTS will be able to bring their expertise in cloud-based solutions and services to the forefront.

In response to the acquisition, CTS stock opened at $73.8 on Thursday and closed at $74.7, up by 2.0% from the previous closing price of 73.2. This is a sign of investors’ confidence in the company’s expansion strategy and the potential of the newly acquired Thirdera business. The acquisition of Thirdera is yet another step for CTS in their mission to provide customers with access to advanced cloud-based solutions and services. With their growing expertise in cloud services market, CTS will be able to offer their customers a comprehensive suite of cloud-based products and services. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for CTSH. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for CTSH. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for CTSH. More…

Key Ratios Snapshot

Some of the financial key ratios for CTSH are shown below. More…

Analysis

At GoodWhale, we believe in providing our clients with the best financial analysis so they can make smart, informed decisions. After analyzing the financials of COGNIZANT TECHNOLOGY SOLUTIONS, we determined that the company was strong in dividend, profitability, and medium in asset. It was weak in growth. Based on this information, we classified COGNIZANT TECHNOLOGY SOLUTIONS as a ‘cow’, which is a company that has the track record of paying out consistent and sustainable dividends. Investors who are looking for consistent dividend income and long-term stability are likely to be interested in such a company as COGNIZANT TECHNOLOGY SOLUTIONS. Additionally, the company has a high health score of 10/10 with regard to its cashflows and debt, allowing it to pay off debt and fund future operations with ease. Thus, investors looking for a stable and secure investment can rest assured that their money is in good hands. More…

Peers

Cognizant Technology Solutions Corp is a leading provider of information technology, consulting, and business process outsourcing services. It has a strong presence in India, the United States, and Europe. The company operates in four segments: Banking and Financial Services, Healthcare, Manufacturing, and Retail, Consumer Goods, and Logistics. Cognizant’s competitors include Accenture PLC, Genpact Ltd, Shunliban Information Service Co Ltd, and others.

– Accenture PLC ($NYSE:ACN)

Accenture PLC is a professional services company that provides consulting, technology, and outsourcing services. It has a market cap of 166.38B as of 2022 and a Return on Equity of 26.56%. The company operates in more than 200 countries and employs more than 373,000 people.

– Genpact Ltd ($NYSE:G)

Genpact is a global professional services firm that offers a range of services in the areas of consulting, digital transformation, technology, and operations. The company has a market cap of $8.29 billion and a return on equity of 17.54%. Genpact has a strong focus on digital transformation and offers a range of services that helps businesses to digitally transform their operations. The company has a strong client base and a strong track record in delivering results.

– Shunliban Information Service Co Ltd ($SZSE:000606)

Shunliban Information Service Co Ltd is a Chinese company that provides information services. It has a market cap of 1.34 billion as of 2022 and a return on equity of 130.37%. The company offers services such as data analysis, information management, and online marketing. It also provides software development and consultation services.

Summary

Cognizant Technology Solutions, a leading provider of IT services and digital transformation solutions, has announced its intent to acquire Thirdera, a digital consulting firm, for an undisclosed amount. The acquisition is expected to bring an additional 940 employees to the company’s Teaneck headquarters. This strategic move is likely to strengthen Cognizant’s presence in the digital consulting market and help it excel in high-growth areas such as cloud, AI and digital platform development.

Analysts believe that the acquisition will expand Cognizant’s reach into the European market and open up potential opportunities for collaboration with Thirdera’s customers. Cognizant’s stock price has responded positively to the news of the acquisition, signaling a strong sentiment among investors.