Cognizant Earnings: Expanded AI Partnerships Should Fuel Long-Term Growth
Cognizant Technology Solutions' first-quarter revenue grew 4% in constant currency, with bookings up 21%, bringing trailing 12-month bookings to a new high. The company is expanding its AI portfolio through partnerships and internal efforts like Project Leap, which are crucial for achieving its updated margin expansion goal. Morningstar maintains its $84 fair value estimate, viewing the stock as deeply undervalued due to Cognizant's comprehensive AI offerings and continuous business model evolution.
https://www.morningstar.com/stocks/cognizant-earnings-expanded-ai-partnerships-should-fuel-long-term-growth