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Stock Market & Financial Investment News

News Breaks
December 5, 2012
10:08 EDTCTSHCognizant advances after disclosing 2013 bonus criteria
IT outsourcing company Cognizant (CTSH) is climbing after the company last night revealed the criteria for the bonuses of its executives in 2013. The company uses a metric it calls performance units to calculate the bonuses of its top executives. In an SEC filing, the IT outsourcing company revealed that the top executives will receive no bonus if the company's 2013 revenue comes in below $8.22B, while they will receive 50% of their bonus performance units if Cognizant's revenue is $8.22B or higher, and 100% of the units if its revenues reach $8.515B or greater. If the company's revenues are $9.175B or greater, the executives will receive a bonus equal to 200% of their assigned performance units. In a note to investors earlier today, Jefferies analyst Jason Kupferberg wrote that Cognizantís incentive compensation thresholds for 2013 are "encouraging." The level of revenue needed to trigger a 100% payout was about 0.9 percentage points higher than the Street was expecting, the analyst wrote. The company's guidance, which is usually provided in February, is typically roughly in-line with the amount of revenue needed to achieve a 100% payout, Kupferberg wrote. Cognizant is continuing to take market share, added the analyst, who maintained a Buy rating on the shares. In early trading, Cognizant rose $1.79, or 2.67%, to $68.83.
News For CTSH From The Last 14 Days
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July 2, 2015
12:00 EDTCTSHCognizant ability to offset Health Net loss a positive, says Wells Fargo
Wells Fargo notes that despite the loss of $100M in revenue in the second half of 2015 from the Health Net (HNT) master services agreement being put on hold during the Centene (CNC) merger review process, Cognizant (CTSH) reaffirmed its outlook today for 2015. Wells views the company's ability to offset the contract loss as a positive and says it remains comfortable with an Outperform rating on the stock.
09:36 EDTCTSHCognizant backs FY15 EPS view of at least $2.93, consensus $2.97
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09:33 EDTCTSHCognizant reaffirms 2015 view after Health Net agrees to be bought by Centene
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June 24, 2015
05:35 EDTCTSHCognizant announces strategic relationship with Escorts Limited
Cognizant announced a strategic relationship with Escorts Limited, one of India's engineering conglomerates, to modernize Escorts' technology landscape and help achieve the company's vision of digitally transforming its businesses to deliver innovative products, provide superior customer experience, and drive growth. This multi-year, multi-million dollar engagement spans all of Escort's businesses, including agri-machinery, material handling and construction equipment, railway equipment and auto components. Cognizant will enable Escorts to improve control and collaboration across its value chain by mobile-enabling its workforce and integrating multiple systems used by vendors, sales partners, and customers. This will help Escorts continuously improve product quality and offer a broad range of customized, configurable, and value-added products and services, strengthening existing customer relationships and building new ones.
June 22, 2015
09:01 EDTCTSHCognizant management to meet with JPMorgan
Meetings to be held in Berwyn/Princeton/Trenton on June 25 hosted by JPMorgan.

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