# Cognizant Technology Solutions Corporation (CTSH)

> Source: Nexqual · https://nexqual.com/CTSH · data as of 2026-10-23 16:22 UTC · cite as "Nexqual, Cognizant Technology Solutions Corporation (CTSH), nexqual.com/CTSH" · informational, not investment advice.

**Price:** USD 70.76 (-4.02% today) · US market open, as of October 23, 2026 at 16:22 UTC; quotes may be delayed. Prev close 73.72 · day 69.62–72.83 · 52w 37.08–87.03 · market cap $31.9B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $21.6B, net income $2.22B (10.3% margin), free cash flow $2.60B (SEC filings).
- Valuation: P/E 14.4x (avg 17.7x at the last 3 fiscal year-ends), EV/EBITDA 8.1x, net debt $509M.
- 6 of 80 tracked superinvestors hold CTSH (13F, Q2 2026): 1 new, 3 added, 2 reduced, 0 unchanged.
- Analysts: Buy (mean 2.45 on a 1–5 scale) (29 analysts), mean target USD 66.66 (range 47–93).
- Total return with dividends: 1Y +6.3% vs S&P 500 +14.7%; 5Y -1.3% vs S&P 500 +77.5%.
- Next earnings: 2026-10-29, EPS estimate USD 1.46, revenue estimate $5.65B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $18.5B | $19.4B | $19.4B | $19.7B | $21.1B | $21.6B |
| Operating income | $2.83B | $2.97B | $2.69B | $2.89B | $3.39B | $3.44B |
| Net income | $2.14B | $2.29B | $2.13B | $2.24B | $2.23B | $2.22B |
| EPS (diluted) | $4.05 | $4.41 | $4.21 | $4.51 | $4.56 | — |
| Free cash flow | $2.22B | $2.24B | $2.01B | $1.83B | $2.60B | $2.60B |
| Operating margin | 15.3% | 15.3% | 13.9% | 14.7% | 16.1% | 15.9% |
| Net margin | 11.5% | 11.8% | 11.0% | 11.3% | 10.6% | 10.3% |
| Revenue growth | +11.1% | +5.0% | -0.4% | +2.0% | +7.0% | — |
| Cash + short-term investments | $2.72B | $2.50B | $2.63B | $2.24B | $1.91B | — |
| Total debt | $664M | $646M | $639M | $908M | $576M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 14.4x · P/S 1.5x · EV/EBITDA 8.1x · EV/Sales 1.5x · P/FCF 12.3x · P/B 2.2x · FCF yield 8.15% · Earnings yield 6.97% · Dividend yield (paid, TTM) 1.94% · Buyback yield (TTM) 7.56% · Net debt $509M · EV $32.4B
P/E at fiscal year-ends: Dec 2025 18.2x, Dec 2024 17.1x, Dec 2023 17.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
6 of 80 tracked investors hold CTSH. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 3.02% | $1.03B | Added +30.9% |
| Christopher Bloomstran | Semper Augustus | 1.65% | $14.6M | New position |
| Yacktman Asset Management |  | 1.51% | $122M | Added +4.7% |
| Dodge & Cox Funds | Dodge & Cox | 0.29% | $563M | Added +1.9% |
| Sarah Ketterer | Causeway Capital Management | 0.21% | $19.2M | Reduced -67.1% |
| Jensen Investment Management |  | 0.10% | $4.0M | Reduced -2.4% |

## Analysts
Consensus Buy (mean 2.45 on a 1–5 scale), 29 analysts; mean target USD 66.66 (low 47, high 93).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | TD Cowen | Target raised | Hold | $54 → $60 |
| 2026-10-09 | Wedbush | Reiterated | Outperform | $70 |
| 2026-10-02 | Wedbush | Reiterated | Outperform | $70 |
| 2026-09-18 | Deutsche Bank | Target raised | Buy | $65 → $70 |
| 2026-09-18 | TD Cowen | Reiterated | Hold | $54 |
| 2026-07-30 | Citigroup | Target raised | Neutral | $45 → $60 |
| 2026-07-30 | Susquehanna | Target lowered | Positive | $88 → $82 |
| 2026-07-30 | Morgan Stanley | Target raised | Equal-Weight | $44 → $51 |
| 2026-07-30 | TD Cowen | Target raised | Hold | $47 → $54 |
| 2026-07-30 | Wells Fargo | Target raised | Overweight | $61 → $67 |
| 2026-07-27 | Guggenheim | Target lowered | Buy | $80 → $65 |
| 2026-07-24 | JP Morgan | Target lowered | Overweight | $74 → $55 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +6.3% | -1.3% |
| S&P 500 (SPY) | +14.7% | +77.5% |
| Per year | +6.4% | -0.3% |
| Volatility (annualized) | 42.9% | 31.3% |
| Max drawdown | -54.8% (Jan 2026→Jun 2026) | -54.6% (Feb 2025→Jun 2026) |

## Peers (Information Technology Services)
FISV (Fiserv, Inc.) USD 49.45 -2.70% · WIT (Wipro Limited) USD 2.11 -3.65% · BR (Broadridge Financial Solutions,) USD 183.55 -1.38% · INFY (Infosys Limited) USD 12.6 -4.73% · CDW (CDW Corporation) USD 163.66 -0.58% · FIS (Fidelity National Information S) USD 37.2 -2.85%

## More
Full page: https://nexqual.com/CTSH · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CTSH's own 10-K filed 2026-02-12 (https://www.sec.gov/Archives/edgar/data/1058290/000105829026000008/ctsh-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Alphabet (Google) (GOOGL) | "We work closely with partners including Amazon Web Services, Cisco, Google, Microsoft, Oracle, Pegasystems, Salesforce, SAP, ServiceNow, Workday and many others." |
| Partner | Microsoft (MSFT) | "We work closely with partners including Amazon Web Services, Cisco, Google, Microsoft, Oracle, Pegasystems, Salesforce, SAP, ServiceNow, Workday and many others." |
| Partner | Oracle (ORCL) | "We work closely with partners including Amazon Web Services, Cisco, Google, Microsoft, Oracle, Pegasystems, Salesforce, SAP, ServiceNow, Workday and many others." |
| Partner | ServiceNow (NOW) | "We work closely with partners including Amazon Web Services, Cisco, Google, Microsoft, Oracle, Pegasystems, Salesforce, SAP, ServiceNow, Workday and many others." |
| Partner | Amazon (AMZN) | "We work closely with partners including Amazon Web Services, Cisco, Google, Microsoft, Oracle, Pegasystems, Salesforce, SAP, ServiceNow, Workday and many others." |
| Partner | Cisco (CSCO) | "We work closely with partners including Amazon Web Services, Cisco, Google, Microsoft, Oracle, Pegasystems, Salesforce, SAP, ServiceNow, Workday and many others." |
| Partner | Salesforce (CRM) | "We work closely with partners including Amazon Web Services, Cisco, Google, Microsoft, Oracle, Pegasystems, Salesforce, SAP, ServiceNow, Workday and many others." |
| Partner | SAP (SAP) | "We work closely with partners including Amazon Web Services, Cisco, Google, Microsoft, Oracle, Pegasystems, Salesforce, SAP, ServiceNow, Workday and many others." |
| Partner | Anthropic | "–In addition to our deep institutional learning expertise, we provide cutting edge training through alliances and partnerships with leading organizations, such as Google, Microsoft, Anthropic and NVIDIA." |
| Partner | NVIDIA (NVDA) | "–In addition to our deep institutional learning expertise, we provide cutting edge training through alliances and partnerships with leading organizations, such as Google, Microsoft, Anthropic and NVIDIA." |
| Competitor | Accenture (ACN) | "Our direct competitors include, among others, Accenture, Atos, Capgemini, CGI, Deloitte Digital, DXC Technology, EPAM Systems, Genpact, HCL Technologies, IBM Consulting, Infosys Technologies, Tata Consultancy Services an…" |
| Competitor | IBM (IBM) | "Our direct competitors include, among others, Accenture, Atos, Capgemini, CGI, Deloitte Digital, DXC Technology, EPAM Systems, Genpact, HCL Technologies, IBM Consulting, Infosys Technologies, Tata Consultancy Services an…" |

Other companies that name CTSH in their own reports (relationship from CTSH's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | ACI WORLDWIDE, INC. (ACIW) | 10-K 2026-02-26 | "In addition, we work with a limited number of systems integration and services partners such as Concerto, Opus Technologies, Synechron, and Cognizant Technology Solutions Corporation, for staff augmen…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Financial Services | $1.73B | 31.6% | +12.0% | $277.0M | 16.0% |
| Healthcare | $1.57B | 28.7% | +1.4% | $312.0M | 19.8% |
| Products and Resources | $1.32B | 24.1% | +1.2% | $165.0M | 12.5% |
| Communications, Media and Technology | $854.0M | 15.6% | +1.5% | $123.0M | 14.4% |
| Total revenue | $5.48B | 100% | — | $874.0M | 15.9% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Consulting And Technology Services | $925.0M | 16.9% | +1.9% |
| Outsourcing Services | $647.0M | 11.8% | +0.6% |
| Total revenue | $5.48B | 100% | — |
The lines above cover 28.7% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $4.13B | 75.3% | +5.5% |
| Europe | $1.03B | 18.7% | +2.5% |
| — Europe, excluding United Kingdom (part of Europe) | $535.0M | 9.8% | +2.9% |
| — United Kingdom (part of Europe) | $492.0M | 9.0% | +2.1% |
| Rest of World | $327.0M | 6.0% | -1.2% |
| Total revenue | $5.48B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.46 | $1.46 | -0.0% | $5.65B | 23 |
| Next quarter (ends 2026-12-31) | $1.53 | $1.46 | +4.2% | $5.65B | 22 |
| Current fiscal year (ends 2026-12-31) | $5.76 | $5.71 | +0.8% | $22.20B | 27 |
| Next fiscal year (ends 2027-12-31) | $6.34 | $6.19 | +2.5% | $23.24B | 27 |