Cognizant Opens Singapore Center - Analyst Blog
March 23 2012 - 2:13PM
Zacks
Recently,
Cognizant Technology Solutions Corp. (CTSH) opened
a development center in Singapore. The decision was taken with the
sole intent of business expansion in one of the wealthiest
countries of the world.
The center was inaugurated by two eminent personalities: the
Assistant Managing Director of the Singapore Economic Development
Board, Yeoh Keat Chuan and the Deputy Chief of Mission at the U.S.
Embassy in Singapore, Louis Mazel.
The development center spreading across 30,000 square feet, is
at a prime location, the Changi Business Park. Nearly 370 people
will form the work force for Cognizant at this center who will use
the Cognizant 2.0 web-based platform to communicate with other
branches globally and provide cost-effective and technologically
advanced services to its customers.
Singapore is a leading Southeast Asian economy today having one
of the highest per capita GDP (PPP) in the world. This burgeoning
economy has been party to Cognizant’s transformational services in
several of its niche industries which include insurance, banking,
manufacturing, retail and many more. Hence, Cognizant is highly
exuberant about proliferating its hold even more on this vast
economy through this new development center.
Cognizant reported its fourth quarter financial results of 2011
on February 8, 2012, whereby a whopping growth was observed.
Revenues for the year rose around 33% annually to reach $6.12
billion, which marginally surpassed management’s expectations
too.
Treading on the same path, management currently targets an
annual revenue growth rate of 23% rise for 2012. It is lucid from
its current advances that it has chalked out a clear path and is
quite ‘cognizant’ about how to reach that goal which is highly
laudatory considering the currently volatile fiscal scenario
pervading across industries.
The company appears to be in quite a formidable position to
battle its competitors which include HiSoft Technology
International (HSFT), Bridgeline Digital,
Inc. (BLIN) and Convio, Inc. (CNVO). We
currently have a Neutral recommendation on the company’s stock. Our
view is supported with a Zacks #3 Rank which translates into a
short-term rating of Hold.
CONVIO INC (CNVO): Free Stock Analysis Report
COGNIZANT TECH (CTSH): Free Stock Analysis Report
HISOFT TECH-ADR (HSFT): Free Stock Analysis Report
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