Cognizant Prints a Solid Quarter and Is Bullish on IT Spending

Cognizant Technology Solutions came in with solid Q3 earnings and provided favorable guidance for Q4 and FY14. Gordon Coburn, President of Cognizant, tells TheStreet’s Jill Malandrino the company saw strength across all of its industries. The healthcare vertical has struggled a bit as the industry had to digest changes in policy. Going forward, Gordon is very optimistic because of the fundamental change in healthcare as companies will have to become more efficient and the acquisition of TriZetto and recent deal with Health Net are big bets on this. Coburn believes IT spending is alive and well as Cognizant’s clients have to simultaneously put resources into efficiency and innovation and the company is positioned for both.