Cognizant Announces Revised Capital Allocation; Doubles Down on Digital; Shares Remain Undervalued
Cognizant’s fourth-quarter result was in line with our expectations but, more importantly, the result gave the firm the opportunity to address a multitude of issues such as its response to Elliott Management, the performance of the financial services and healthcare businesses, its ongoing foreign corrupt practices investigation, fiscal 2017 guidance, and immigration reform. Most notably, Cognizant announced significant changes to its capital return policy, while doubling down on its digital busi...Cognizant Technology Solutions is a services company, transforming customers' business, operating and technology models for the digital era. The company's services include digital services and solutions, consulting, application development, systems integration, application testing, application maintenance, infrastructure services and business process services. Additionally, the company develops, licenses, implements and supports proprietary and third-party software products and platforms. The company has organized its services and solutions into four practice areas: Digital Business, Digital Operations, Digital Systems and Technology and Consulting.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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