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Cognizant (CTSH) stock

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NASDAQ: CTSH Nasdaq IT Consulting & Other Services Next results ~February 3, 2027

B Fundamentals grade

Cognizant is a professional services and information technology company that helps client organisations run and transform their technology and business operations. It offers consulting alongside digital, cloud and security-related services, artificial intelligence (including generative AI), automation, augmented reality, blockchain, the Internet of Things, quantum and edge computing, and digital engineering and manufacturing, with many offerings delivered on an as-a-service basis.

Its clients span many industries and geographies, including government bodies, and are typically engaged under short-term contracts, some of which tie fees to agreed performance measures such as cost savings or revenue improvements. Cognizant earns revenue from these client engagements, competing against other service providers as well as against clients' own in-house technology resources, referred to as GCCs.

The company is organised into business segments and operates a global delivery model, combining centres in India, where most of its employees are based, with other delivery centres worldwide and staff placed at client sites. The United States is its largest market, and it also has substantial client relationships in the United Kingdom and the European Union, where many employees work under temporary visas such as the H-1B and L-1.

Based on Cognizant's 10-K filed February 12, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$94

Cash-flow model

Base case. Range ~$71–$120 across our lower- and higher-growth cases (-0.5%–9.5% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 44% above it.

Price used: $65.09, November 2, 2026

Cognizant valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Cognizant files

10-Q filed October 29: Cognizant

Rating: Hold to Buy Model value +6.9%

Cognizant's revenue reached $21.9bn in the twelve months to September 2026, up 5.0% on a year earlier but a touch slower than the 5.6% pace recorded a quarter earlier. Free-cash-flow margin slipped to 10.8%, down from 12.7% a year earlier. A 4.8% reduction in the diluted share count has lifted the value attributable to each remaining share. Our model value climbs from $87.61 to $93.63 a share, well above the current share price of $65.11, and the rating moves from Hold to Buy. At that price, the market appears to be pricing in cash flow shrinking roughly 1.7% a year over the next five years, a notably gloomier outlook than the 3.4% annual revenue growth the company has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 29: Cognizant

Cognizant's revenue reached $21.9bn over the twelve months to June 2026, a 5.0% increase on the prior year but a step down from the 5.6% pace recorded a quarter earlier. Free-cash-flow margin slipped to 10.8%, down from 12.7% a year ago. Meanwhile, the diluted share count has shrunk 4.8% year-on-year, which boosts the value attributable to each remaining share. The fundamentals grade has improved, moving from C to B. Our model value stands largely unchanged at $87.61 a share, well above the current price of $66.36. We maintain our Hold rating. At this share price, the market appears to be pricing in no cash-flow growth over the next five years, a more cautious outlook than the 3.4% annual revenue growth Cognizant has actually delivered.

10-Q on SEC EDGAR

Where Cognizant stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $21.6bn, up 5.6% on a year earlier, slower than 6.5% a quarter earlier. Free-cash-flow margin held at 12.0%. The diluted share count is down 3.4% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 5 of our 7 financial-health checks. Our cash-flow model value is $86.07 a share, against a share price of $67.88. At that price, our model says the market is pricing in about 0.7% a year of cash-flow growth for five years, slower than the 3.2% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 3, 2027 (estimated)

Cognizant's trailing-twelve-month revenue grew 5.0% year on year, with a free-cash-flow margin of 10.8%. Where it stands out: operating margin of 15.7% ranks 5 of 36 it consulting & other services companies we cover.

Our discounted-cash-flow model values the business at ~$94 per share in the base case (~$71–$120 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 10.9% while net income grew 20.9%: a 32pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $65.09 is 44% below our value per share of $94.
  • Shrinking share count. Diluted shares fell 4.8% in a year, so each share owns more of the business.

Things to watch

  • Weakest spot: days sales outstanding. Days sales outstanding of 81 days ranks 20 of 30 it consulting & other services companies we cover (median 71 days).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$1.49 against an average estimate of $1.46: beat by 1.8%
Revenue
$5.66bn, up 4.6% on a year earlier
Share reaction
-1.9% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
fourth quarter revenue $5.49bn to $5.57bn (fourth quarter of 2026); fourth quarter revenue growth (reported) growth 3% to 4.5% (fourth quarter of 2026)
Next report
October 29, 2026; average EPS estimate $1.53

Cognizant's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.0%
  • 1 week-6.1%
  • 1 month+11.2%
  • This year-20.2%
  • 1 year-8.7%
  • 5 years-11.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$21.9B
Operating margin
15.7%
Net margin
11.8%
EPS (TTM, diluted)
$5.49

Growth

Revenue growth
+5.0%
Change in growth rate
−0.7 pts
Share count change
−4.8%

Cash

Free cash flow (TTM)
$2.4B
FCF margin
10.8%
Stock pay % of revenue
0.9%

Earnings

Last results
October 29, 2026
Next results (est.)
February 3, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement

    Cognizant forms OpenAI Frontier Capability Group with 25,000 staff

    Cognizant said it has created a new OpenAI Frontier Capability Group comprising more than 25,000 professionals. The unit will focus on AI-native software engineering, application modernization, and agentic customer operations. Cognizant noted that over 21,000 of its associates have already earned OpenAI badges.

    Company releaseRead source ↗
  2. Results
  3. Guidance
  4. Partnership

    Cognizant and Travelport expand AI partnership

    Cognizant said it and Travelport agreed to the next phase of their collaboration on 27 October 2026. The companies aim to embed AI across platforms that serve suppliers in more than 165 countries. Cognizant teams will work across 18 countries to modernize engineering and workflows.

    Company releaseRead source ↗
  5. Partnership
  6. Announcement
  7. Deal

    Cognizant signs deal to buy Australian SAP firm DyFlex

    Cognizant said it has agreed to acquire DyFlex Solutions, an Australian SAP consultancy with over 300 staff. The company stated the deal will combine DyFlex's regional expertise with its own AI platforms. Cognizant expects the transaction to close in the first quarter of 2027, subject to regulatory approvals.

    Company releaseRead source ↗
  8. Partnership

    Cognizant signs five-year tech deal with Ingenico

    Cognizant said it has been selected by Ingenico as its global technology partner under a five-year agreement. The company will embed AI across Ingenico's infrastructure and operations while providing managed services for end-user support and engineering. Cognizant added that the partnership aims to modernize Ingenico's technology operations and strengthen its security posture.

    Company releaseRead source ↗
  9. Product

    Cognizant and Google Cloud form new AI engineering group

    Cognizant said it and Google Cloud expanded their partnership to create a Gemini Frontier Capability Group. The new unit will use more than 18,000 dedicated associates to help enterprises deploy AI agents. Cognizant noted that over 55,000 staff completed a related Gemini workshop.

    Company releaseRead source ↗
  10. Agreement

    Cognizant signs new credit facility

    Cognizant said it entered into a new credit agreement on 5 October 2026. The deal includes a $550 million term loan and a $1.85 billion revolving facility. The new facilities mature on 3 October 2031.

    SEC 8-KRead source ↗
  11. Results
  12. Announcement
  13. Announcement
  14. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Cognizant valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 2.5% a year for five years.That is slower than the 3.4% a year revenue growth Cognizant has delivered.

  • Priced in-2.5%
  • Last 12 months5.0%
  • 3 years a year4.0%
  • 5 years a year3.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($62.50, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$94
Price used
$62.50close November 3, 2026
Implied change
▲ +50%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Cognizant's free cash flow after stock-based pay with after-tax interest added back ($2.2B, FY2026 Q3 TTM), growing 4.7% and 4.6% in the next two years (forecasts, guidance and its record), then back to 4.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$71–~$120 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Cognizant's free cash flow after stock-based pay ( $2.2B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Cognizant as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.93 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$94 ~$71–$120 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$58 ~$52–$110 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$75 ~$54–$110 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$75 ~$65–$90 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$79 ~$58–$94 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Cognizant with IT Consulting & Other Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −9%
  • Last year's free-cash-flow margin change, if it persists ▼ −15%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $71$96$129$173$231$305
8.5% $54$72$97$128$169$222
10% $44$58$77$101$132$172

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$52.26$48.79$62.24$56.23$55.63$74.50$81.68$53.47$71.85$74.33$81.52$65.09
Market value$32.0bn$29.8bn$37.0bn$32.8bn$31.2bn$40.3bn$43.1bn$27.7bn$36.3bn$36.9bn$39.9bn$30.5bn
+ Net debt (− = net cash)−$842m−$1.2bn−$1.1bn−$411m−$1.9bn−$2.0bn−$1.1bn−$1.5bn−$2.0bn−$1.3bn−$1.3bn$37m
Enterprise value$31.2bn$28.6bn$36.0bn$32.4bn$29.2bn$38.3bn$42.0bn$26.2bn$34.3bn$35.6bn$38.5bn$30.5bn
Multiples
Price / sales 2.6x2.2x2.5x2.0x1.9x2.4x2.3x1.4x1.9x1.9x1.9x1.4x
Price / earnings 19.7x19.2x24.6x15.6x16.9x29.0x20.2x12.1x17.1x16.5x17.9x11.9x
Price / free cash flow 16.7x22.1x17.4x14.8x14.8x13.9x19.5x12.4x18.0x20.2x15.4x12.9x
EV / EBITDA 12.6x10.7x12.3x9.8x9.8x14.3x12.4x7.4x10.6x10.4x9.8x7.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

71 /100

Strong moat

How hard Cognizant's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 19 / 20

    Net income has been a median 11.4% of total assets over 10 years.

  • Durability 14 / 20

    Operating margin has been a median 15.4%; its worst year was 13.6%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 10 of 10 years, at a median 12.5% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 11.5% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (86 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.76 +9% $22.2bn +5%
Next $6.29 +9% $23.2bn +5%

Next year's EPS estimate has moved −0.1% in 90 days, across 28 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.6% on 90 days ago. In the last 30 days, 2 analysts raised Cognizant's forecast and 1 cut it.

Consensus EPS forecast Cognizant, last 90 days
$5.60 $5.80 $6.00 $6.20 $6.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $5.73 Current fiscal year, 60 days ago: $5.74 Current fiscal year, 30 days ago: $5.75 Current fiscal year, 7 days ago: $5.76 Current fiscal year, Now: $5.76 $5.76 Next fiscal year, 90 days ago: $6.29 Next fiscal year, 60 days ago: $6.31 Next fiscal year, 30 days ago: $6.33 Next fiscal year, 7 days ago: $6.33 Next fiscal year, Now: $6.29 $6.29

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $5.73$6.29
60 days ago $5.74$6.31
30 days ago $5.75$6.33
7 days ago $5.76$6.33
Now $5.76$6.29

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.46 $1.49 +1.8%
Jun 2026 $1.38 $1.37 −0.7%
Mar 2026 $1.33 $1.40 +5.0%
Dec 2025 $1.32 $1.35 +2.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026
  • Full-year 2026 revenue full-year 2026 $22.05bn to $22.14bn Lowered vs 22.04bn to 22.35bn
    “Full-year 2026 revenue is expected to be $22.05 to $22.14 billion, growth of 4.5% to 4.9%, or 4.0% to 4.4% in constant currency.” source
  • Full-year 2026 revenue growth (reported) full-year 2026 4.5% growth to 4.9% growth Lowered vs 4.4 to 5.9
    “Full-year 2026 revenue is expected to be $22.05 to $22.14 billion, growth of 4.5% to 4.9%, or 4.0% to 4.4% in constant currency.” source
  • Full-year 2026 revenue growth, constant currency full-year 2026 4% growth to 4.4% growth Non-GAAP Lowered vs 4 to 5.5
    “Full-year 2026 revenue is expected to be $22.05 to $22.14 billion, growth of 4.5% to 4.9%, or 4.0% to 4.4% in constant currency.” source
  • Fourth quarter revenue fourth quarter of 2026 $5.49bn to $5.57bn
    “Fourth quarter revenue is expected to be $5.49 to $5.57 billion, growth of 3.0% to 4.5%, or 3.2% to 4.7% in constant currency.” source
  • Fourth quarter revenue growth (reported) fourth quarter of 2026 3% growth to 4.5% growth
    “Fourth quarter revenue is expected to be $5.49 to $5.57 billion, growth of 3.0% to 4.5%, or 3.2% to 4.7% in constant currency.” source
  • Fourth quarter revenue growth, constant currency fourth quarter of 2026 3.2% growth to 4.7% growth Non-GAAP
    “Fourth quarter revenue is expected to be $5.49 to $5.57 billion, growth of 3.0% to 4.5%, or 3.2% to 4.7% in constant currency.” source
Show 6 more items
  • Adjusted Diluted EPS full-year 2026 $5.72 to $5.79 Non-GAAP Lowered vs 5.7 to 5.82
    “Full-year 2026 Adjusted Diluted EPS 4 is expected to be in the range of $5.72 to $5.79, growth of 8% to 10%.” source
  • Adjusted Diluted EPS growth full-year 2026 8% growth to 10% growth Non-GAAP
    “Full-year 2026 Adjusted Diluted EPS 4 is expected to be in the range of $5.72 to $5.79, growth of 8% to 10%.” source
  • Adjusted Operating Margin full-year 2026 about 16.1% Non-GAAP Maintained vs 16 to 16.2
    “Full-year 2026 Adjusted Operating Margin 4 is now expected to be approximately 16.1%, or 30 basis points of expansion.” source
  • Project Leap costs expected to be incurred in 2026 $140m to $160m
    “We now expect to record total costs of $180 million to $250 million, with $140 million to $160 million of costs expected to be incurred in 2026 and the remainder to be incurred through the first quarter of 2027.” source
  • Project Leap in-year savings 2026 about $200m
    “This program is expected to generate in-year savings of approximately $200 million in 2026, which are and will continue to be used primarily to fund investments as described above.” source
  • Project Leap total program costs Project Leap program (through Q1 2027) $180m to $250m
    “We now expect to record total costs of $180 million to $250 million, with $140 million to $160 million of costs expected to be incurred in 2026 and the remainder to be incurred through the first quarter of 2027.” source

How earlier guidance turned out

  • revenue, Third quarter 2026 guided $5.6bn to $5.68bn Within range: $5.664bn

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Cognizant's revenue by +4.7% next year and +4.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.9%, weight 48%) , management guidance (+4.4%, weight 31%) and the company's own record (+4.5%, weight 21%) . How the weights are set.

Analyst recommendations

29 analysts, Oct 2026
Buy1345%
Hold1655%
Sell00%

Monthly trend

  1. Oct 20263101629
  2. Sep 20263101629
  3. Aug 20263101629
  4. Jul 2026111629

Counts of recommendations published by analysts covering Cognizant, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.6%
of tradable shares
Days to cover
4.17
at average volume
Short interest, 1 month
−19%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.1%
of shares
Employees
351,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −8.7%

$71.27 on October 31, 2025 to $65.09

ThenNowEffect
Revenue (last 12 months) $20.5bn $21.6bn +5.6%
Net margin 11.9% 10.3% −13.7%
P/E multiple 14.5x 14.0x −3.2%
Share count 495m 478m +3.5%

Biggest factor: net margin.

Last 3 years +3.7%

$62.78 on November 3, 2023 to $65.09

ThenNowEffect
Revenue (last 12 months) $19.4bn $21.6bn +11.6%
Net margin 11.3% 10.3% −9.3%
P/E multiple 14.6x 14.0x −4.3%
Share count 512m 478m +7.0%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CTSH+10%−35%+34%+4%+10%−20%
Industry peers (median)+9%−35%+4%+24%−23%−13%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CTSH58%42%58%58%58%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CTSH−19%−44%−19%−19%−27%−55%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 56% from February 14, 2025 to June 30, 2026. Getting back needed a 128% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$38.50 – $85.16
From 52-week high
−23.6%
vs 50-day average
+4.5%
vs 200-day average
+11.5%
Volatility (1 year)
43%
Beta vs S&P 500
0.03

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±3.1%
After a week
6 up, 5 down
typical move ±5.8%
After a month
8 up, 3 down
typical move ±7.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 −1.9% −2.1% — —
July 29, 2026 +7.1% +0.1% +10.9% +27.5%
April 29, 2026 −4.0% +1.0% −6.9% +1.9%
February 4, 2026 +3.1% −1.7% −4.8% −10.6%
October 29, 2025 +6.4% −1.1% +10.1% +15.1%
July 30, 2025 −4.2% −0.5% −5.4% −3.8%
April 30, 2025 +2.6% +0.7% +6.3% +10.9%
February 5, 2025 +4.2% +0.8% +5.4% 0.0%
October 30, 2024 −1.2% −2.3% +5.1% +7.0%
July 31, 2024 +0.6% +0.2% −3.5% +2.1%
May 1, 2024 +0.9% +0.6% +3.1% +1.1%
February 6, 2024 +0.5% +1.1% −2.7% +0.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Cognizant’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.09× the last 60 days’ realised volatility , richer than 31% of the 229 stocks we screen today.
  • Puts and calls are priced at about the same implied volatility.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Cognizant in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Cognizant
$19B $20B $21B $22B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $19.4B Revenue (TTM), FY24 Q1: $19.3B Revenue (TTM), FY24 Q2: $19.3B Revenue (TTM), FY24 Q3: $19.4B Revenue (TTM), FY24 Q4: $19.7B Revenue (TTM), FY25 Q1: $20.1B Revenue (TTM), FY25 Q2: $20.5B Revenue (TTM), FY25 Q3: $20.9B Revenue (TTM), FY25 Q4: $21.1B Revenue (TTM), FY26 Q1: $21.4B Revenue (TTM), FY26 Q2: $21.6B Revenue (TTM), FY26 Q3: $21.9B $21.9B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $19.4B
FY24 Q1 $19.3B
FY24 Q2 $19.3B
FY24 Q3 $19.4B
FY24 Q4 $19.7B
FY25 Q1 $20.1B
FY25 Q2 $20.5B
FY25 Q3 $20.9B
FY25 Q4 $21.1B
FY26 Q1 $21.4B
FY26 Q2 $21.6B
FY26 Q3 $21.9B
Revenue growth, TTM YoY Cognizant
-5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -0.4% Revenue growth, TTM YoY, FY24 Q1: -0.6% Revenue growth, TTM YoY, FY24 Q2: -0.7% Revenue growth, TTM YoY, FY24 Q3: -0.1% Revenue growth, TTM YoY, FY24 Q4: 2.0% Revenue growth, TTM YoY, FY25 Q1: 4.1% Revenue growth, TTM YoY, FY25 Q2: 6.3% Revenue growth, TTM YoY, FY25 Q3: 7.4% Revenue growth, TTM YoY, FY25 Q4: 7.0% Revenue growth, TTM YoY, FY26 Q1: 6.5% Revenue growth, TTM YoY, FY26 Q2: 5.6% Revenue growth, TTM YoY, FY26 Q3: 5.0% 5.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -0.4%
FY24 Q1 -0.6%
FY24 Q2 -0.7%
FY24 Q3 -0.1%
FY24 Q4 2.0%
FY25 Q1 4.1%
FY25 Q2 6.3%
FY25 Q3 7.4%
FY25 Q4 7.0%
FY26 Q1 6.5%
FY26 Q2 5.6%
FY26 Q3 5.0%
Operating margin (TTM) Cognizant
13% 14% 15% 16% 17% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 13.9% Operating margin (TTM), FY24 Q1: 13.9% Operating margin (TTM), FY24 Q2: 14.6% Operating margin (TTM), FY24 Q3: 14.8% Operating margin (TTM), FY24 Q4: 14.7% Operating margin (TTM), FY25 Q1: 15.2% Operating margin (TTM), FY25 Q2: 15.4% Operating margin (TTM), FY25 Q3: 15.8% Operating margin (TTM), FY25 Q4: 16.1% Operating margin (TTM), FY26 Q1: 15.8% Operating margin (TTM), FY26 Q2: 15.9% Operating margin (TTM), FY26 Q3: 15.7% 15.7%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 13.9%
FY24 Q1 13.9%
FY24 Q2 14.6%
FY24 Q3 14.8%
FY24 Q4 14.7%
FY25 Q1 15.2%
FY25 Q2 15.4%
FY25 Q3 15.8%
FY25 Q4 16.1%
FY26 Q1 15.8%
FY26 Q2 15.9%
FY26 Q3 15.7%
FCF margin (TTM) Cognizant
6% 8% 10% 12% 14% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 10.4% FCF margin (TTM), FY24 Q1: 7.2% FCF margin (TTM), FY24 Q2: 8.4% FCF margin (TTM), FY24 Q3: 8.5% FCF margin (TTM), FY24 Q4: 9.3% FCF margin (TTM), FY25 Q1: 10.6% FCF margin (TTM), FY25 Q2: 11.1% FCF margin (TTM), FY25 Q3: 12.7% FCF margin (TTM), FY25 Q4: 12.3% FCF margin (TTM), FY26 Q1: 11.5% FCF margin (TTM), FY26 Q2: 12.0% FCF margin (TTM), FY26 Q3: 10.8% 10.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 10.4%
FY24 Q1 7.2%
FY24 Q2 8.4%
FY24 Q3 8.5%
FY24 Q4 9.3%
FY25 Q1 10.6%
FY25 Q2 11.1%
FY25 Q3 12.7%
FY25 Q4 12.3%
FY26 Q1 11.5%
FY26 Q2 12.0%
FY26 Q3 10.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Cognizant took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $21.1B
  2. Selling, general and admin $3.2B · 15.3%
  3. Other operating costs $14.5B · 68.6%
  4. Operating income $3.4B · 16.1%
  5. Income tax $1.3B · 6.0%
  6. Net income $2.2B · 10.6%

Shares of revenue. Source: Cognizant's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 3.3 4.6 6.1 7.3 8.8 10.3 12.4 13.5 14.8 16.1 16.8 16.7 18.5 19.4 19.4 19.7 21.1 21.9
EBITDA 0.7 1.0 1.3 1.5 1.9 2.1 2.5 2.7 2.9 3.3 3.0 2.7 3.4 3.5 3.2 3.4 3.9 4.0
Operating income 0.6 0.9 1.1 1.4 1.7 1.9 2.1 2.3 2.5 2.8 2.5 2.1 2.8 3.0 2.7 2.9 3.4 3.4
Net income 0.5 0.7 0.9 1.1 1.2 1.4 1.6 1.6 1.5 2.1 1.8 1.4 2.1 2.3 2.1 2.2 2.2 2.6
Diluted EPS $0.89 $1.19 $1.43 $1.72 $2.02 $2.35 $2.65 $2.55 $2.53 $3.60 $3.29 $2.57 $4.05 $4.41 $4.21 $4.51 $4.56 $5.49
Growth (year on year)
Revenue +16.4% +40.1% +33.3% +20.0% +20.4% +16.1% +21.0% +8.6% +9.8% +8.9% +4.1% −0.8% +11.1% +5.0% −0.4% +2.0% +7.0% +5.0%
EBITDA +19.7% +37.3% +29.7% +20.4% +22.4% +12.7% +18.1% +7.9% +9.6% +12.8% −9.7% −10.3% +27.2% +4.0% −8.3% +5.9% +14.7% +4.6%
Operating income +19.7% +39.3% +31.9% +19.8% +23.2% +12.3% +13.6% +6.9% +8.4% +12.9% −12.4% −13.8% +33.7% +5.0% −9.4% +7.5% +17.2% +4.7%
Net income +24.2% +37.1% +20.5% +19.0% +16.9% +17.1% +12.9% −4.4% −3.2% +39.7% −12.3% −24.4% +53.5% +7.2% −7.2% +5.4% −0.4% +20.9%
Diluted EPS +23.6% +33.1% +20.3% +20.7% +17.4% +16.3% +12.8% −3.8% −0.8% +42.3% −8.6% −21.9% +57.6% +8.9% −4.5% +7.1% +1.1% +27.0%
Margins
EBITDA margin 21.6% 21.2% 20.6% 20.7% 21.0% 20.4% 19.9% 19.8% 19.7% 20.5% 17.8% 16.1% 18.4% 18.2% 16.8% 17.4% 18.7% 18.3%
Operating margin 18.9% 18.8% 18.6% 18.5% 19.0% 18.4% 17.3% 17.0% 16.8% 17.4% 14.6% 12.7% 15.3% 15.3% 13.9% 14.7% 16.1% 15.7%
Net margin 16.3% 16.0% 14.4% 14.3% 13.9% 14.0% 13.1% 11.5% 10.2% 13.0% 11.0% 8.4% 11.5% 11.8% 11.0% 11.3% 10.6% 11.8%
Free-cash-flow margin 18.2% 12.6% 9.6% 11.4% 13.1% 12.3% 15.4% 10.0% 14.3% 13.7% 12.6% 17.4% 12.0% 11.5% 10.4% 9.3% 12.3% 10.8%
Cash flow
Cash from operations 0.7 0.8 0.9 1.2 1.4 1.5 2.2 1.6 2.4 2.6 2.5 3.3 2.5 2.6 2.3 2.1 2.9 2.7
Capital spending 0.1 0.2 0.3 0.3 0.3 0.2 0.3 0.3 0.3 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3
Free cash flow 0.6 0.6 0.6 0.8 1.2 1.3 1.9 1.3 2.1 2.2 2.1 2.9 2.2 2.2 2.0 1.8 2.6 2.4
Stock-based pay 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.2
Free cash flow after stock pay 0.6 0.5 0.5 0.7 1.0 1.1 1.7 1.1 1.9 1.9 1.9 2.7 2.0 2.0 1.8 1.7 2.4 2.2
Balance sheet
Cash 1.1 1.5 1.3 1.6 2.2 2.0 2.1 2.0 1.9 1.2 2.6 2.7 1.8 2.2 2.6 2.2 1.9 1.5
Total debt 0.0 0.0 0.0 0.0 0.0 1.6 1.3 0.9 0.9 0.8 0.7 0.7 0.7 0.6 0.6 0.9 0.6 1.6
Net debt (negative = net cash) −1.1 −1.5 −1.3 −1.6 −2.2 −0.4 −0.8 −1.2 −1.1 −0.4 −1.9 −2.0 −1.1 −1.5 −2.0 −1.3 −1.3 0.0
Diluted shares 602m 618m 621m 612m 610m 613m 613m 610m 595m 584m 560m 541m 528m 519m 505m 497m 489m 469m
Returned to shareholders
Dividends — — — — — — 0.0 0.0 0.3 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.6
Buybacks 0.0 0.1 0.4 0.5 0.2 0.2 0.5 0.5 1.9 1.3 2.2 1.6 0.8 1.4 1.1 0.6 1.4 2.2
Total returned 0.0 0.1 0.4 0.5 0.2 0.2 0.5 0.5 2.2 1.7 2.7 2.1 1.3 2.0 1.7 1.2 2.0 2.8

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · September 30, 2026
What it owns · $21.3bn
Short-term assets $8.1bnLonger-term assets $13.2bn
What it owes, and who funded it · $21.3bn
Short-term liabilities $3.6bnLonger-term liabilities $3.0bnShareholders' equity $14.7bn
  • Short-term assets cover short-term liabilities $8.1bn of assets due within a year against $3.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $8.1bn short-term assets against $3.0bn of longer-dated liabilities.
  • More cash than debt $1.5bn of cash against $1.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 11% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 5% to 11% over five years.
  • A year's operating cash flow covers at least 20% of debt $2.7bn of operating cash flow against $1.6bn of debt.
  • Operating profit covers interest at least five times over Operating income of $3.4bn against $47m of interest.

From Cognizant's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$2.2B
Dividends (TTM)
$616M
Returned to shareholders
120%
of free cash flow
Buybacks, last 3 fiscal years
$3B
Diluted share count
−4.8%
year over year
Total shareholder yield
9.7%
dividends 2.1% + buybacks 7.6% of market value
Dividend payout ratio
24%
of net income paid out
Sales & admin spending
14.5%
of revenue
Days sales outstanding
81 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in it consulting & other services
Last 12 months unless stated CTSH KD DXC BAH CACI SAIC Median
Revenue, last 12 months $21.9bn $15.0bn $12.4bn $11.0bn $9.8bn $7.4bn $383m
Revenue growth, last 12 months 5.0% −0.6% −2.8% −6.2% 10.1% −0.8% 5.7%
Revenue growth, 3-year average 4.0% −4.0% −4.2% 3.1% 12.0% −1.3% 4.3%
Revenue growth, latest quarter 4.6% −3.3% −4.0% −3.9% 8.2% 6.3% 4.7%
Gross margin — 21.8% — 52.5% 28.0% 12.6% 28.0%
Operating margin 15.7% — 6.8% 9.3% 9.8% 8.0% 5.9%
Operating margin, 3-year average 15.4% — 7.5% 10.1% 9.2% 7.4% 7.5%
Net margin 11.8% 0.6% 0.9% 7.1% 5.5% 5.1% 2.2%
Cash from operations / revenue 12.3% 5.1% 10.4% 9.8% 9.0% 8.9% 6.7%
Free-cash-flow margin 10.8% 1.0% 8.3% 9.0% 8.0% 8.4% 5.0%
Free-cash-flow margin, 3-year average 10.7% 0.7% 9.4% 8.0% 6.7% 6.5% 6.7%
Stock pay / revenue 0.9% 0.4% 0.6% 0.7% 0.9% 0.9% 2.2%
Change in share count −4.8% −4.5% −7.9% −4.0% −0.4% −7.8% 0.9%

Median of all 40 companies we cover in it consulting & other services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

40 it consulting & other services companies
Measure Company Peer median Rank
Revenue growth Growth 5.0% 6.5% 21 of 40
Change in growth rate Growth -0.7pp -0.8pp 18 of 40
Operating margin Profitability 15.7% 5.9% 5 of 36
Net margin Profitability 11.8% 2.5% 6 of 40
Free-cash-flow margin Cash generation 10.8% 5.1% 10 of 38
Stock pay as % of revenue Cash generation 0.9% 2.3% 8 of 36
Long-term debt as % of assets Balance sheet 7.3% 11.8% 12 of 27
Change in share count Balance sheet -4.8% 0.9% 8 of 39
Days sales outstanding Balance sheet 81 days 71 days 20 of 30

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Health Sciences $6.3B 30.1% ▲ 7.0%
Financial Services $6.2B 29.2% ▲ 7.3%
Products and Resources $5.3B 25.0% ▲ 10.5%
Communications Media and Technology $3.3B 15.6% ▲ 1.0%
Products and services
Line of business Revenue Share YoY
Consulting and Technology Services $13.5B 64.1% ▲ 8.3%
Outsourcing Services $7.6B 35.9% ▲ 4.6%
Geography
Region Revenue Share YoY
North America $15.8B 74.8% ▲ 7.4%
Europe $4B 19.0% ▲ 6.7%
Europeexcluding United Kingdom $2.1B 52.1% ▲ 8.2%
United Kingdom $1.9B 47.9% ▲ 5.2%
Restof World $1.3B 6.2% ▲ 2.9%

From Cognizant's 10-K filed February 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$19.7B
Institutions reporting
913
Shares held vs prior quarter
▲ 4.3%
Positions opened / closed
112 / 192

Top buyers and sellers, Q2 2026: 444 institutions bought and 549 sold ; the biggest buyer was SG Americas Securities, LLC (+7.0M shares) and the biggest seller Invesco Ltd (−10.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.8B 46.2M 9.1% ▲ 4.2%
Vanguard Capital Management LLC $1.2B 31.0M 6.1% ▼ 0.4%
Pzena Investment Management LLC $1B 26.5M 5.2% ▲ 30.9%
Vanguard Portfolio Management LLC $1B 26.1M 5.1% 0.0%
State Street Corp $980M 25.3M 5.0% ▲ 4.7%
Invesco Ltd. $702M 18.1M 3.6% ▼ 35.5%
Jpmorgan Chase & Co $579M 15.0M 2.9% ▼ 28.6%
Geode Capital Management, LLC $575M 14.8M 2.9% ▲ 0.5%
Dodge & Cox $563M 14.5M 2.9% ▲ 1.9%
Fil Ltd $372M 9.6M 1.9% ▲ 42.9%
Capital Research Global Investors $358M 9.2M 1.8% ▼ 2.7%
Morgan Stanley $346M 8.9M 1.8% ▼ 32.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Cognizant's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $209,768 1 trade by 1 insider, last 12 months Insider sales History → $6.1M 33 trades by 6 insiders · 100% under pre-set plans
Net ▼ $5.9M net selling
Insider Date Trade Shares Price Value
Kerdman Alina SVP, Controller & CAO September 30, 2026 Sell pre-set plan 139 $56.88 $7,906
Kerdman Alina SVP, Controller & CAO September 14, 2026 Sell pre-set plan 134 $62.40 $8,362
Kim John Sunshin CLO, CAO & Corporate Secretary September 2, 2026 Sell pre-set plan 2,500 $63.37 $158,431
Kerdman Alina SVP, Controller & CAO August 31, 2026 Sell pre-set plan 144 $63.34 $9,121
Dalal Jatin P Chief Financial Officer August 3, 2026 Sell pre-set plan 12,000 $55.76 $669,168
Kim John Sunshin CLO, CAO & Corporate Secretary August 3, 2026 Sell pre-set plan 2,500 $57.05 $142,625
Kerdman Alina SVP, Controller & CAO July 1, 2026 Sell pre-set plan 137 $39.82 $5,455
Kerdman Alina SVP, Controller & CAO June 15, 2026 Sell pre-set plan 133 $51.70 $6,876
Rohleder Stephen J Director June 10, 2026 Buy 4,034 $52.00 $209,768
Kerdman Alina SVP, Controller & CAO June 1, 2026 Sell pre-set plan 146 $56.41 $8,236
Kerdman Alina SVP, Controller & CAO May 18, 2026 Sell pre-set plan 154 $48.04 $7,398
Kerdman Alina SVP, Controller & CAO April 2, 2026 Sell pre-set plan 194 $61.29 $11,890

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 46 trades and filings

In the last 12 months, 2 members of Congress disclosed 1 purchase and 2 sales of Cognizant shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded April 14, 2026, filed May 8, 2026
  • Kevin Hern(R-OK 1):Sale (full), $15,001 - $50,000, traded March 17, 2026, filed April 3, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded March 13, 2026, filed April 7, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 3, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 29, 2026
  • April 29, 2026
  • February 4, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Cognizant was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Cognizant in brief

What does Cognizant do?
Cognizant is a US-listed company in the IT consulting & other services industry. Its financial year ends in December.
What is Cognizant's stock ticker?
Cognizant trades under the ticker CTSH on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Cognizant's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Cognizant reported revenue of $21.9B, 5.0% higher than a year earlier, according to its SEC filings.
What is Cognizant's free cash flow?
Cognizant's free-cash-flow margin is 10.8% of revenue over the trailing twelve months, ranking 10 of the 38 it consulting & other services companies we cover.
What is Cognizant's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Cognizant's free cash flow after stock-based pay gives ~$94 per share in the base case, and ~$71–$120 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Cognizant's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Pzena Investment Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Cognizant buying back stock, and does it pay a dividend?
Cognizant spent $2.2B on share repurchases over the trailing twelve months, and its diluted share count fell 4.8% over the year.
What is Cognizant's market cap?
On November 2, 2026, Cognizant's market capitalisation was about $30.5B, with a price-to-earnings ratio of 11.9 and net debt of $37M. Market figures come from third-party market data and may be delayed.
Does Cognizant pay a dividend?
Yes: Cognizant paid $616M in dividends over the trailing twelve months, a dividend yield of 2.11% and a payout ratio of 23.9%.
How much debt does Cognizant have?
Cognizant's debt-to-equity ratio is 10.5%, from its latest balance sheet (5.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Cognizant's competitors?
In our IT Consulting & Other Services peer group, the companies closest to Cognizant are Kyndryl Holdings, Inc., DXC Technology Co, Booz Allen Hamilton Holding Corp, CACI International Inc and Science Applications International Corp. The side-by-side comparison below sets their revenue, margins and growth against Cognizant's.
Are insiders buying or selling Cognizant stock?
Over the last 12 months, Cognizant's directors and officers reported 1 open-market purchases and 33 sales on Form 4. The insider trading page charts every trade.
When is Cognizant's next earnings date?
Around February 3, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Cognizant announces its own schedule.