Page 8 - Cognizant

Francisco D'Souza elevated to Vice Chairman at Cognizant, retains CEO post

The appointment comes almost a year after its previous Vice Chairman Lakshmi Narayanan stepped down by not seeking re-election

Cognizant enters coveted Fortune 200 list on improved earnings

Company now ranks at 195; it was placed at 205 in 2017

Our hiring has come down but we will still hire: Cognizant's Chatterjee

From that perspective, any growth that will happen now will definitely necessarily mean that there will be a net headcount addition, said Debashis Chatterjee

Cognizant acquires Belgium-based analytics company Hedera Consulting

Hedera Consulting is a consulting company specialised in growth strategy, digitisation, innovation and commercial excellence for clients across industries, including financial service

Cognizant develops blockchain solution in partnership with Indian insurers

The solution will help insurers reduce the risk of data breaches, fraud and money-laundering, while delivering a superior experience to customers

Cognizant to deposit $75 mn in suspense account after tax demand dispute

The dispute involves the I-T Department's recent assertion that the company owes additional taxes in connection with a $2.8-billion share buyback transaction undertaken by a subsidiary in 2016

Deposit 15% of Rs 28 bn tax demand in a separate account: HC to Cognizant

The Madras High Court today directed the Income Tax Department, in the Rs 28 billion tax dispute with It major Cognizant, to lift the attachment of a JPMorgan account. The Court also directed Cognizant to deposit 15 per cent of the tax demanded in a suspense account to lift the attachment of some of the other accounts.Earlier, on March 22, 2018 the Department had issued an order seeking Cognizant to pay 15 per cent tax on a Rs 194.15 billion paid by the company under a scheme to its shareholders overseas. It has also attached the bank accounts of the company, immediately, alleges the company.P S Raman, who appeared for the company, in the Madras High Court today argued that since all the 68 bank accounts have been attached, the company not able to pay its vendors for the last eight days.He argued that as per a latest affidavit by the department, it has issued a show cause notice on the same day it attached the bank accounts, which is questionable.The company has sought the court's ...

Paid all applicable taxes, I-T dept's position without merit: Cognizant

Cognizant says it will 'continue to vigorously defend itself and will pursue all available legal remedies'

IT Department attaches Cognizant's bank accounts on a Rs 25 bn dispute

As per the Department, DDT has to be paid on any distribution, or reduction of capital, to the extent of accumulated profits defined as dividends

Investigation, legal expenses towards FCPA violation costs Cognizant $63 mn

Company said costs towards FCPA violation in 2017 alone was $36, more expenses to incur in 2018

Cognizant posts small loss due to one-time provisional income tax in US

For the year 2018, the company is expecting the revenue to be in the range of $16-16.30 billion

I-T Dept seeks clarification from Cognizant on share buyback in 2013

The allegation is that Cognizant India has bought back almost 0.91 mn shares from Cognizant Mauritius for around Rs 23,000 per share

Cognizant Q3 net up 11% at $495 mn, eyes 10% revenue growth in 2017

For the fourth quarter, it expects revenues to be in the range of $3.79-3.85 billion

Cognizant keen to 'pick up' pace of acquisitions to enhance capabilities

Cognizant's 2.56 lakh workforce is based out of India

Growth in digital services makes India a very attractive market: Cognizant

Cognizant also offered a voluntary separation package to senior executives in the US and India

Despite AI, you need people to execute tech for clients: Cognizant CEO

Automation, decline in traditional services, and protectionism in main markets weighing on IT sector

400 senior Cognizant employees accept voluntary separation package

The move will help the company save nearly $60 million this year

Cognizant Q2 net soars 86% to $470 mn, revises annual revenue guidance

IT services firm Cognizant said second quarter profits rose 86 per cent to $ 470 million and revenue grew by 8.9 per cent to $ 3.67 billion as business grew across verticals.The firm revised its guidance upwards for the year ahead at the lower end to 9-10 per cent ($ 14.70-14.84 billion) as against its previous forecast of 8-10 per cent growth. Shares of the company rose 3.1 percent at $70.66 in pre-market trading on the Nasdaq, where it is listed on Thursday.Bloomberg estimates expected revenue to be $ 3.66 billion and profits at $ 535 million for the quarter.For the third quarter ending September, Cognizant said it expects revenues to be in the range of $3.73-3.78 billion. The company follows a January to December financial year."Cognizant delivered strong second-quarter results, which reflect our continued progress in helping clients achieve the value of digitising their entire enterprises, or what we call being digital at scale," said Cognizant CEO Francisco D'Souza. "We remain .

Cognizant acquires TMG Health for an undisclosed amount

Cognizant has entered into a definitive agreement to purchase TMG Health, a subsidiary of health insurance major Health Care Service Corporation (HCSC) and a business process services provider to healthcare firms in US, for an undisclosed amount. The transaction is expected to close in the third quarter of 2017, subject to satisfaction of the closing conditions, including regulatory reviews.TMG Health's healthcare business and technology professionals will become employees of Cognizant upon the close of the transaction. Cognizant expects the new acquisiton would further expand its breadth of digital transformation solutions for healthcare payers and providers, in addition to its 2014 acquisition of healthcare technology provider TriZetto.TMG Health will enter into a new, expanded multi-year service agreement to continue providing information technology, business process and other services to HCSC's various operating units and subsidiaries, as part of the expansion of Cognizant's ...

Cognizant advises staff to refrain from certain activities on social media

Cognizant has issued a social media guideline advising them to refrain from certain activities in social media while representing the company. This has come to the highlight when the company is facing opposition from certain forums and unions in the sector.According to a letter dated March 6, circulated internally, the company says that the employees should not post disparaging content about Cognizant, its customers or anything related to its business and to refrain from posting on behalf of the company, other than sharing content on authorised public social media channels.It also advised the employees not to comment on any internal or human resources related issues, not to engage with media, journalists or other influencers on social media or digital channels, and not to comment on any immigration, political or other matters related to Cognizant, among other guidelines.An email sent to the company did not elicit any response immediately. Sources said that the company issues social ...