Cognizant Q4 revenue up 7% at $3.46 bn

Also names three directors to board in deal with Elliott

IT services provider Cognizant Technology Solutions Corp said fourth-quarter revenue rose about 7% to $3.46 billion from $3.23 billion helped by ongoing demand for its cloud services.

It named three directors to its board in a deal with activist shareholder Elliott Management.

Elliott disclosed a more than 4% stake in Cognizant in November and had urged the IT services provider to take steps to boost shareholder value.