Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Cognizant Tech Solutions A / Equity Bottom-Up

<ul><li>Cognizant Technology Solutions reported its fourth-quarter and full-year 2024 financial outcomes, showing signs of growth and robust strategic positioning in the evolving technology landscape.</li><li>The company’s revenue for the fourth quarter reached $5.1 billion, reflecting a 6.7% year-over-year increase in constant currency.</li><li>This growth was fuellled by a rise in demand within its two key segments, Health Sciences and Financial Services, along with the strategic acquisitions of Thirdera and Belcan.</li></ul>

Cognizant Technology Solutions reported its fourth-quarter and full-year 2024 financial outcomes, showing signs of growth and robust strategic positioning in the evolving technology landscape.The company’s revenue for the fourth quarter reached $5.1 billion, reflecting a 6.7% year-over-year increase in constant currency.This growth was fuellled by a rise in demand within its two key segments, Health Sciences and Financial Services, along with the strategic acquisitions of Thirdera and Belcan.

Cognizant Technology Solutions: Executing Large-Sized Strategic Deals & Acquisitions Like Belcan Can Truly Widen Its Market Reach!

<ul><li>Cognizant Technology Solutions recently reported its third quarter earnings for 2024, outlining its financial results and strategic initiatives.</li><li>For Q3 2024, Cognizant reported revenues of $5 billion, representing a sequential growth of 3.5% in constant currency and a year-over-year increase of 2.7%, boosted partly by acquisitions.</li><li>The adjusted operating margin improved to 15.3% sequentially, propelled by disciplined cost management despite incremental investments and the effects of an annual merit cycle.</li></ul>

Cognizant Technology Solutions recently reported its third quarter earnings for 2024, outlining its financial results and strategic initiatives.For Q3 2024, Cognizant reported revenues of $5 billion, representing a sequential growth of 3.5% in constant currency and a year-over-year increase of 2.7%, boosted partly by acquisitions.The adjusted operating margin improved to 15.3% sequentially, propelled by disciplined cost management despite incremental investments and the effects of an annual merit cycle.

Cognizant Technology Solutions: How Are They Expanding Service Portfolio Through Acquisitions? - Major Drivers

<ul><li>In evaluating Cognizant Technology Solutions' performance for the second quarter of 2024, several important factors come to the forefront, presenting a mixed picture of the company's financial health and operational execution.</li><li>The company, driven by strategic acquisitions and improved operational efficiency, posted better-than expected revenue and margin figures, but has notably seen year-over-year revenue decline and continuous pressure in certain industry sectors.</li><li>Positively, Cognizant's revenue in Q2 amounted to $4.85 billion, surpassing the high end of their guidance range and marking a 2.1% sequential growth in constant currency, the highest since 2022.</li></ul>

In evaluating Cognizant Technology Solutions' performance for the second quarter of 2024, several important factors come to the forefront, presenting a mixed picture of the company's financial health and operational execution.The company, driven by strategic acquisitions and improved operational efficiency, posted better-than expected revenue and margin figures, but has notably seen year-over-year revenue decline and continuous pressure in certain industry sectors.Positively, Cognizant's revenue in Q2 amounted to $4.85 billion, surpassing the high end of their guidance range and marking a 2.1% sequential growth in constant currency, the highest since 2022.

Cognizant Technology Solutions: Increased Focus on Large Deal Acquisitions To Grow The Top-Line Inorganically! - Major Drivers

<ul><li>In the first quarter of 2024, Cognizant Technology Solutions demonstrated progress against its strategic priorities, despite a challenging demand environment.</li><li>The firm reported revenue growth that exceeded the upper limit of its guidance range and improved its adjusted operating margin year-over-year.</li><li>Despite this, the company's revenue was flat sequentially, with a year-over-year decline of 1% on both a reported and a constant currency basis.</li></ul>

In the first quarter of 2024, Cognizant Technology Solutions demonstrated progress against its strategic priorities, despite a challenging demand environment.The firm reported revenue growth that exceeded the upper limit of its guidance range and improved its adjusted operating margin year-over-year.Despite this, the company's revenue was flat sequentially, with a year-over-year decline of 1% on both a reported and a constant currency basis.

Cognizant Technology Solutions:  Are Its AI Investments Coming In Too Late? - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Nasdaq-100 Stock Index / Technical Analysis

<ul>
<li>$SPX remains below 5783, the upper-end of important target/resistance area we've discussed for a month+ (5670-5783). 5670 was prior all-time high set in July, while 5783 is 2% above 5670.</li>
<li>It's hard to call it a "decisive" breakout if SPX isn't even 2% above its prior high.  In 2007, SPX made a top after climbing 1-2% above its prior high.</li>
<li>The 2007 topping analog has tracked the current market almost perfectly, with similar backdrops to today including new Fed cutting cycle, recession indicators going off, yield curve un-inverting, defensives outperforming</li>
</ul>


$SPX remains below 5783, the upper-end of important target/resistance area we've discussed for a month+ (5670-5783). 5670 was prior all-time high set in July, while 5783 is 2% above 5670.
It's hard to call it a "decisive" breakout if SPX isn't even 2% above its prior high.  In 2007, SPX made a top after climbing 1-2% above its prior high.
The 2007 topping analog has tracked the current market almost perfectly, with similar backdrops to today including new Fed cutting cycle, recession indicators going off, yield curve un-inverting, defensives outperforming


Still No Decisive Breakout as SPX Tests 5783 Resistance; Ideal Time to Shift to Defensives

United States

Cognizant Technology Solutions Corporation provides custom Information Technology (IT) consulting and technology services as well as outsourcing services. The Company's core competencies include technology strategy consulting, complex systems development, enterprise software package implementation and maintenance, data warehousing and business intelligence.

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Cognizant Tech Solutions A (CTSH US)

Cognizant Technology Solutions: Executing Large-Sized Strategic Deals & Acquisitions Like Belcan Can Truly Widen Its Market Reach!

Cognizant Technology Solutions reported its fourth-quarter and full-year 2024 financial outcomes, showing signs of growth and robust strategic...

Baptista Research

Cognizant Technology Solutions: How Are They Expanding Service Portfolio Through Acquisitions? - Major Drivers

Cognizant Technology Solutions recently reported its third quarter earnings for 2024, outlining its financial results and strategic...

Baptista Research

Cognizant Technology Solutions: Increased Focus on Large Deal Acquisitions To Grow The Top-Line Inorganically! - Major Drivers

In evaluating Cognizant Technology Solutions' performance for the second quarter of 2024, several important factors come to the forefront,...

Baptista Research

Cognizant Technology Solutions: Are Its AI Investments Coming In Too Late? - Major Drivers

In the first quarter of 2024, Cognizant Technology Solutions demonstrated progress against its strategic priorities, despite a challenging demand...

Baptista Research

Still No Decisive Breakout as SPX Tests 5783 Resistance; Ideal Time to Shift to Defensives

Still No Decisive Breakout as $SPX Tests 5783 Resistance; On watch for SPX bull trap/failed breakout, confirmed only on a break below 5670. 2007...

Vermilion Research

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