Cognizant Technology Solutions Corp
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Cognizant Technology Solutions Corp
Cognizant Technology Solutions Corp.'s journey is a remarkable narrative of evolution in the fast-paced world of technology services and consulting. Founded in the mid-1990s as a division of Dun & Bradstreet, Cognizant emerged as an independent entity just as the tech boom of the late '90s was gaining momentum. It rode the wave of outsourcing that swept across global corporations, seeking cost efficiencies and specialized skill sets. Cognizant distinguished itself through its delivery model that offered a blend of intense client engagement on-site, supported by a robust offshore development infrastructure, primarily based in India. This dual approach allowed Cognizant to leverage the benefits of time-zone differences and cost dynamics, delivering high-quality, round-the-clock services that helped businesses transform digitally and efficiently manage their critical IT processes.
Cognizant today stands as a key player among the world's large technology consulting firms, generating revenue through a three-pronged strategy: consulting, IT services, and business process outsourcing. The company's consulting arm facilitates client transformation journeys by offering strategic insights and guiding them through complex challenges such as digital integration and systems optimization. Meanwhile, its IT services envelop areas like application development, systems integration, and enterprise resource planning, helping clients innovate and enhance operational efficiency. Additionally, Cognizant’s business process outsourcing solutions provide cost-effective management of back-office operations, allowing its clients to concentrate on their core competencies. Through this comprehensive service spectrum, Cognizant crafts value propositions that resonate with a vast array of industries, ranging from healthcare and finance to manufacturing and technology, ensuring its place as a linchpin in the ever-evolving tech ecosystem.
Cognizant Technology Solutions Corp.'s journey is a remarkable narrative of evolution in the fast-paced world of technology services and consulting. Founded in the mid-1990s as a division of Dun & Bradstreet, Cognizant emerged as an independent entity just as the tech boom of the late '90s was gaining momentum. It rode the wave of outsourcing that swept across global corporations, seeking cost efficiencies and specialized skill sets. Cognizant distinguished itself through its delivery model that offered a blend of intense client engagement on-site, supported by a robust offshore development infrastructure, primarily based in India. This dual approach allowed Cognizant to leverage the benefits of time-zone differences and cost dynamics, delivering high-quality, round-the-clock services that helped businesses transform digitally and efficiently manage their critical IT processes.
Cognizant today stands as a key player among the world's large technology consulting firms, generating revenue through a three-pronged strategy: consulting, IT services, and business process outsourcing. The company's consulting arm facilitates client transformation journeys by offering strategic insights and guiding them through complex challenges such as digital integration and systems optimization. Meanwhile, its IT services envelop areas like application development, systems integration, and enterprise resource planning, helping clients innovate and enhance operational efficiency. Additionally, Cognizant’s business process outsourcing solutions provide cost-effective management of back-office operations, allowing its clients to concentrate on their core competencies. Through this comprehensive service spectrum, Cognizant crafts value propositions that resonate with a vast array of industries, ranging from healthcare and finance to manufacturing and technology, ensuring its place as a linchpin in the ever-evolving tech ecosystem.
Revenue Beat: Q3 revenue grew 6.5% year-over-year in constant currency to $5.4 billion, exceeding the high end of guidance.
Margin Expansion: Adjusted operating margin increased by 70 basis points year-over-year to 16%, driven by disciplined expense management and AI-enabled delivery.
EPS Growth: Adjusted EPS rose 11% year-over-year to $1.39.
Raised Guidance: Full-year revenue growth guidance was raised to 6%–6.3% in constant currency, and EPS guidance increased to $5.22–$5.26.
AI Momentum: AI-related services, platforms, and partnerships fueled strong growth across all business segments and geographies.
Large Deals: Six large deals ($100 million+ TCV each) signed in Q3, with TCV from large/mega deals up 40% year-to-date.
Healthy Pipeline: Management highlighted a robust deal pipeline, increasing demand for both productivity- and innovation-led AI projects.
Shareholder Returns: $1.5 billion returned to shareholders year-to-date, on track for $2 billion in 2025.
Management
Ravi Kumar Singisetti is a prominent figure in the IT services and consulting industry, recently known for his role as the CEO of Cognizant Technology Solutions Corporation, a position he assumed in January 2023. Before joining Cognizant, Ravi Kumar had a distinguished career at Infosys, where he spent over twenty years, rising to become the President. During his tenure at Infosys, he played a key role in driving the company's growth and transformation, working across various sectors and establishing strong client relationships. He is recognized for his strategic vision and ability to lead digital transformation initiatives, helping organizations leverage technology to enhance their operations and competitiveness. Ravi Kumar holds a degree in Engineering and an MBA, providing him with a robust foundation for his leadership roles in the tech industry. Under his leadership, Cognizant continues to strengthen its position as a global leader in providing IT consulting and business process outsourcing services, with a focus on digital innovation and client-centric solutions. Ravi Kumar's appointment as CEO marked a new chapter for Cognizant, aimed at accelerating growth and enhancing the company's service offerings in an increasingly digital world.
He is recognized for his strategic vision and ability to lead digital transformation initiatives, helping organizations leverage technology to enhance their operations and competitiveness. Ravi Kumar holds a degree in Engineering and an MBA, providing him with a robust foundation for his leadership roles in the tech industry.
Under his leadership, Cognizant continues to strengthen its position as a global leader in providing IT consulting and business process outsourcing services, with a focus on digital innovation and client-centric solutions. Ravi Kumar's appointment as CEO marked a new chapter for Cognizant, aimed at accelerating growth and enhancing the company's service offerings in an increasingly digital world.
Jatin Pravinchandra Dalal is a prominent financial executive known for his extensive experience and leadership in the technology sector. As of October 2023, he serves as the Chief Financial Officer (CFO) at Cognizant Technology Solutions Corp, a leading multinational corporation that provides IT services, including digital, technology, consulting, and operations services. Dalal joined Cognizant in 2023, bringing with him a wealth of experience from his previous roles in the industry. Before joining Cognizant, he served as the CFO of Wipro Limited, another major player in the global IT services market. During his tenure at Wipro, Dalal was instrumental in overseeing financial operations, driving strategic cost initiatives, and managing global financial planning and analysis. His leadership was pivotal in steering the company’s financial architecture through various business cycles and market conditions. Jatin Dalal is a Chartered Financial Analyst (CFA) and holds a significant breadth of expertise in financial management, having worked across diverse geographies and markets. His career is marked by a strong record of financial stewardship, M&A activity, and transformative business deals that have significantly shaped the companies he's been part of. He is recognized for his strategic insight, operational acumen, and ability to foster growth through efficient financial management. His leadership style often emphasizes transparency, strategic risk management, and aligning financial practices with broader organizational goals. Dalal's role as CFO at Cognizant involves overseeing financial functions, enhancing shareholder value, and supporting the company's vision of delivering exceptional client experiences and leading innovative solutions in the digital age.
Dalal joined Cognizant in 2023, bringing with him a wealth of experience from his previous roles in the industry. Before joining Cognizant, he served as the CFO of Wipro Limited, another major player in the global IT services market. During his tenure at Wipro, Dalal was instrumental in overseeing financial operations, driving strategic cost initiatives, and managing global financial planning and analysis. His leadership was pivotal in steering the company’s financial architecture through various business cycles and market conditions.
Jatin Dalal is a Chartered Financial Analyst (CFA) and holds a significant breadth of expertise in financial management, having worked across diverse geographies and markets. His career is marked by a strong record of financial stewardship, M&A activity, and transformative business deals that have significantly shaped the companies he's been part of.
He is recognized for his strategic insight, operational acumen, and ability to foster growth through efficient financial management. His leadership style often emphasizes transparency, strategic risk management, and aligning financial practices with broader organizational goals.
Dalal's role as CFO at Cognizant involves overseeing financial functions, enhancing shareholder value, and supporting the company's vision of delivering exceptional client experiences and leading innovative solutions in the digital age.
Balu Ganesh Ayyar is recognized for his leadership and expertise in the technology and business services sector. Before his role in Cognizant Technology Solutions Corp, Balu Ayyar served as CEO of Mphasis, an IT services company, where he played a critical role in transforming the company's operations and strategic focus. His leadership at Mphasis from 2017 to 2020 is noted for driving growth, increasing operational efficiency, and enhancing the company's competitive edge in the IT services industry. Before Mphasis, Balu Ayyar had a long and impactful career at HCL Technologies. There he held various key positions and contributed significantly to the company's expansion and service delivery capabilities. His roles at HCL included heading various business units and driving strategic initiatives across global markets. Balu Ayyar is known for his strategic vision, operational expertise, and ability to lead organizations through complex transformations. His approach often emphasizes innovation, customer-centric solutions, and the cultivation of strong teams to achieve business objectives. Balu Ayyar's educational background includes a degree in mechanical engineering and an MBA, equipping him with both technical and managerial acumen essential for leadership in the tech sector. His contributions to the industry are marked by a focus on leveraging technology to solve business challenges and fostering growth through strategic partnerships and innovative solutions. At Cognizant, he is expected to bring his deep industry experience and leadership skills to further strengthen the company's market position and drive future success.
Before Mphasis, Balu Ayyar had a long and impactful career at HCL Technologies. There he held various key positions and contributed significantly to the company's expansion and service delivery capabilities. His roles at HCL included heading various business units and driving strategic initiatives across global markets.
Balu Ayyar is known for his strategic vision, operational expertise, and ability to lead organizations through complex transformations. His approach often emphasizes innovation, customer-centric solutions, and the cultivation of strong teams to achieve business objectives.
Balu Ayyar's educational background includes a degree in mechanical engineering and an MBA, equipping him with both technical and managerial acumen essential for leadership in the tech sector.
His contributions to the industry are marked by a focus on leveraging technology to solve business challenges and fostering growth through strategic partnerships and innovative solutions. At Cognizant, he is expected to bring his deep industry experience and leadership skills to further strengthen the company's market position and drive future success.
Surya Gummadi is a notable executive at Cognizant Technology Solutions Corp, where he serves as the President of Cognizant Americas. In this role, he is responsible for overseeing the company's operations across the American continent, including business strategy, client relations, and overall performance in the region. Gummadi joined Cognizant in 2000 and has since held various leadership positions, contributing significantly to the company's growth and success. Throughout his tenure, he has demonstrated strong leadership in client services, delivery management, and strategic planning, particularly within the banking and financial services sector. His deep expertise in these areas has allowed him to drive transformative initiatives and foster innovative solutions that meet clients' evolving needs. As a seasoned leader with more than two decades of experience in the IT services industry, Surya Gummadi has been instrumental in advancing Cognizant's market position. He is known for his client-centric approach, commitment to excellence, and adeptness in navigating complex business environments. His leadership continues to play a pivotal role in steering Cognizant towards achieving its long-term strategic goals.
Gummadi joined Cognizant in 2000 and has since held various leadership positions, contributing significantly to the company's growth and success. Throughout his tenure, he has demonstrated strong leadership in client services, delivery management, and strategic planning, particularly within the banking and financial services sector. His deep expertise in these areas has allowed him to drive transformative initiatives and foster innovative solutions that meet clients' evolving needs.
As a seasoned leader with more than two decades of experience in the IT services industry, Surya Gummadi has been instrumental in advancing Cognizant's market position. He is known for his client-centric approach, commitment to excellence, and adeptness in navigating complex business environments. His leadership continues to play a pivotal role in steering Cognizant towards achieving its long-term strategic goals.
Rajesh Varrier is a prominent executive at Cognizant Technology Solutions Corp, currently serving as a Senior Vice President and Head of the Digital Experience business unit. In his role, Varrier is responsible for driving the growth and strategic direction of Cognizant's digital experience offerings, which include services like customer experience transformation, digital strategy, and interactive solutions. Before joining Cognizant, Rajesh Varrier had a successful career in the technology and consulting industries, with significant experience in leading digital transformation initiatives for major global clients. His expertise spans across various domains, including technology consulting, business development, and strategic planning. Rajesh Varrier is known for his leadership skills and ability to foster innovation and collaboration within his teams. His work focuses on leveraging emerging technologies to create impactful digital experiences that meet the evolving needs of clients in various industries. Through his efforts, he has contributed to strengthening Cognizant's position as a leader in digital transformation services.
Before joining Cognizant, Rajesh Varrier had a successful career in the technology and consulting industries, with significant experience in leading digital transformation initiatives for major global clients. His expertise spans across various domains, including technology consulting, business development, and strategic planning.
Rajesh Varrier is known for his leadership skills and ability to foster innovation and collaboration within his teams. His work focuses on leveraging emerging technologies to create impactful digital experiences that meet the evolving needs of clients in various industries. Through his efforts, he has contributed to strengthening Cognizant's position as a leader in digital transformation services.
Jeff DeMarrais is the Chief Communications Officer at Cognizant Technology Solutions Corp. In his role, he is responsible for overseeing the company's global communications efforts, including public relations, internal communications, and executive communications, as well as integrating brand messaging across various channels. With a strong background in corporate communications, Jeff works to enhance Cognizant's reputation, support its strategic objectives, and ensure cohesive and effective communication. Before joining Cognizant, he held leadership positions in corporate communications, bringing with him a wealth of experience in managing and executing communication strategies for large, global organizations.