Cognizant Reports Solid Start to Fiscal Year; Digital Propels Company Growth; Shares Fairly Valued
Cognizant reported a solid start to the fiscal year, with revenue at the high end of management’s targeted range. The firm provided a slightly updated full-year outlook, raising the low end of its revenue guidance by $50 million, to $16.05 billion, due to mergers and acquisitions, and lowering its full-year EPS by 6 cents to at least $4.47 based on an updated tax stance. The firm’s healthy revenue growth continues to be propelled by its digital business, which according to management constituted...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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