Cognizant Issues Outlook; Vinita Bali Joins Board

(RTTNews) - Cognizant Technology Solutions Corp. (CTSH) said, for full year 2020, adjusted earnings per share is expected to be in the range of $3.97-4.13. Full year 2020 year-over-year revenue growth is estimated in the range of 2.0-4.0% in constant currency. Analysts polled by Thomson Reuters expect the company to report profit per share of $4.13. Analysts' estimates typically exclude special items.

For the first quarter, the company expects year-over-year revenue growth in the range of 2.8-3.8% in constant currency.

Fourth-quarter adjusted earnings per share was $1.07 compared to $0.98, a year ago. Revenue increased to $4.3 billion, up 3.8% (4.2% in constant currency) from prior year.

Cognizant also announced that Vinita Bali has been appointed to its Board as a new independent director effective February 24. She was most recently Managing Director and Chief Executive Officer of Britannia Industries, from 2005 to 2014.

The company also said Vice Chairman Francisco D'Souza will leave the Board effective March 31, 2020.