12 Trending AI Stocks on Latest News and Ratings

Page 4 of 11

8. Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Number of Hedge Fund Holders: 39

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a professional services company that provides consulting technology and outsourcing services. On February 5th, the company reported its fourth quarter and full-year 2024 financial results. The company’s revenue stood at $5.08 billion, compared to analysts’ expectations of $5.07 billion, according to data compiled by LSEG. Moreover, adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with estimates of $1.12 per share. The company forecast annual revenue below estimates due to uncertainty about the path of future interest rate cuts which has forced companies to temper spending on IT services and consultancy. High capital costs have been straining IT spending, compelling enterprises to cut back on consultancy services and prioritize investments in AI-related projects. Chief Executive Officer Ravi Kumar S. further highlighted accelerated investments in their AI-led platforms and the addition of new capabilities with the acquisitions of Thirdera and Belcan, strengthening and diversifying the company portfolio.

“I am deeply grateful to our employees for their commitment to our strategic priorities and rigorous execution, which drove fourth quarter revenue growth to the high end of our guidance range. We exited the year with momentum — closing a record 29 large deals during the year — highlighting the effectiveness of our strategy. In 2024, we accelerated investments in our AI-led platforms and added new capabilities with the acquisitions of Thirdera and Belcan, further strengthening and diversifying our portfolio. Our focus on client centricity, agility, and innovation is helping clients unlock the next wave of hyper productivity and enterprise-grade generative AI adoption.”

-Ravi Kumar S, Chief Executive Officer.

Page 4 of 11