Cognizant Results Mostly In Line; Financial Services Slightly Underwhelms; Shares Near Fair Value
Cognizant’s second-quarter results were mostly in line with our expectations, with revenue inside management’s guidance range, although the firm’s EPS performance was above our forecast. Cognizant’s focus on digital transformation products and services via its business, operations, and systems and technology lines continues to fuel its top-line growth and prop up its bottom line. In the quarter, management noted that the company’s digital revenue grew in the low 20% range and is now close to 30%...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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