Citable filing context
CTSH's research view summarizes recent SEC filing context, starting with earnings from Jul 29, 2026.
| Filed | Item | Context |
|---|---|---|
| Jul 29, 2026 | earnings | Cognizant reported Q2 2026 revenue of $5.5 billion and increased its full-year 2026 adjusted EPS guidance. |
| Jul 10, 2026 | legal_settlement | Cognizant reached a $5.5 million settlement in a stockholder derivative action to be paid by insurance carriers. |
| Jun 3, 2026 | other | Cognizant reported results from its June 2, 2026 annual meeting, including director re-elections and say-on-pay approval. |
| Jul 29, 2026 | Guidance: adjusted_diluted_eps | 5.70 to 5.82 |
| Jul 29, 2026 | Guidance: adjusted_operating_margin | 16.00 to 16.20 |
| Jul 29, 2026 | Guidance: revenue | 5600.00 to 5680.00 |
| Jul 29, 2026 | mda_quarterly | Cognizant reported Q2 2026 revenue of $5.48 billion, a 4.5% increase year-over-year, driven by large deal wins and demand for AI, analytics, and automation services. The company’s GAAP operating margin was 15.9%, while the adjusted operating margin reached 16.0%. Performance was bolstered by operational efficiencies and favorable foreign currency movements, though results were impacted by increased compensation costs and the dilutive effect of recent acquisitions, specifically 3Cloud and Astreya. Management initiated "Project Leap" in Q2 2026, a restructuring program targeting AI-led productivity and operational streamlining. The company expects total costs of $230 million to $320 million for the program, with $84 million incurred in the second quarter. Offsetting these charges was an $81 million benefit from the partial reversal of a 2019 India Defined Contribution Obligation liability. Liquidity remains a focus, with $1.04 billion in cash and cash equivalents as of June 30, 2026. During the quarter, Cognizant borrowed $1 billion under its revolving credit facility to support capital allocation, including $1.15 billion in share repurchases. The company continues to navigate regulatory risks in India, including ongoing tax disputes and evolving labor laws, while monitoring potential impacts from the India-Mauritius tax treaty amendment. |
| Apr 29, 2026 | mda_quarterly | Q1 2026 revenue increased 5.8% to $5.41 billion, with constant currency growth of 3.9% driven by large deal ramp-ups and demand for AI, analytics, and intuitive operations. Financial Services led segment growth at 12.4%, while Health Sciences faced headwinds from lower third-party product sales. Adjusted operating margin reached 15.6%, benefiting from operational efficiencies and Indian rupee depreciation, which added approximately 50 basis points. Strategic expansion into AI infrastructure includes the acquisition of 3Cloud and a definitive agreement to acquire Astreya Partners for $600 million. To further streamline, the company launched Project Leap, an AI-led productivity program expecting $230 million to $320 million in 2026 costs and $200 million to $300 million in corresponding savings. Key risks include the potential for GenAI to diminish demand or pricing for legacy services, macroeconomic uncertainty affecting discretionary spending, and Indian regulatory shifts, specifically the November 2025 Labor Code reforms and ongoing tax disputes with the ITD. Liquidity remains stable with $1.52 billion in cash and short-term investments and $1.85 billion in available credit, although Days Sales Outstanding (DSO) rose to 84 days. |
Source: SEC EDGAR filing text and events; period Jul 29, 2026; filed Jul 29, 2026.
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