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Cognizant Technology Solutions (CTSH)

Market Price (2/23/2026): $65.16 | Market Cap: $31.2 Bil
Sector: Information Technology | Industry: IT Consulting & Other Services

Cognizant Technology Solutions (CTSH)

Market Price (2/23/2026): $65.16
Market Cap: $31.2 Bil
Sector: Information Technology
Industry: IT Consulting & Other Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 8.3%		 Weak multi-year price returns
2Y Excs Rtn is -51%, 3Y Excs Rtn is -65%		 Key risks
CTSH key risks include [1] challenges in maintaining market position and pricing power against intense competition amid the rapid shift to Generative AI and [2] a potential surge in operational costs due to proposed changes to H-1B visa fees impacting its global delivery model.
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 2.9 Bil, FCF LTM is 2.6 Bil		  
2 Low stock price volatility
Vol 12M is 30%		  
3 Megatrend and thematic drivers
Megatrends include Cloud Computing, Cybersecurity, and Artificial Intelligence. Themes include Hybrid Cloud Solutions, Show more.		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 8.3%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 2.9 Bil, FCF LTM is 2.6 Bil
2 Low stock price volatility
Vol 12M is 30%
3 Megatrend and thematic drivers
Megatrends include Cloud Computing, Cybersecurity, and Artificial Intelligence. Themes include Hybrid Cloud Solutions, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -51%, 3Y Excs Rtn is -65%
5 Key risks
CTSH key risks include [1] challenges in maintaining market position and pricing power against intense competition amid the rapid shift to Generative AI and [2] a potential surge in operational costs due to proposed changes to H-1B visa fees impacting its global delivery model.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Cognizant Technology Solutions (CTSH) stock has lost about 10% since 10/31/2025 because of the following key factors:

1. Slight Revenue Miss in Q4 2025 Earnings.

Despite Cognizant Technology Solutions reporting adjusted earnings per share (EPS) of $1.35 for the fourth quarter of 2025, which surpassed analyst estimates of $1.32, the company's revenue of $5.3 billion slightly missed the consensus estimate of $5.31 billion. This minor revenue shortfall contributed to cautious investor sentiment and an initial decline in the stock price.

2. Broader Industry Concerns and Increased AI Competition.

A notable factor in the stock's plunge around February 3, 2026, was attributed to the broader impact on IT Services and Business Process Outsourcing (BPO) stocks following Anthropic's release of new plug-ins. This highlights market sensitivity to competitive pressures and the evolving technological landscape, particularly in the artificial intelligence domain, which can affect investor confidence in established IT service providers like Cognizant.

Show more

Stock Movement Drivers

Fundamental Drivers

The -9.9% change in CTSH stock from 10/31/2025 to 2/22/2026 was primarily driven by a -15.3% change in the company's P/E Multiple.
(LTM values as of)103120252222026Change
Stock Price ($)72.2065.03-9.9%
Change Contribution By: 
Total Revenues ($ Mil)20,85721,1081.2%
Net Income Margin (%)10.2%10.6%3.5%
P/E Multiple16.514.0-15.3%
Shares Outstanding (Mil)4864791.5%
Cumulative Contribution-9.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/22/2026
ReturnCorrelation
CTSH-9.9% 
Market (SPY)1.1%39.0%
Sector (XLK)-6.3%25.6%

Fundamental Drivers

The -8.1% change in CTSH stock from 7/31/2025 to 2/22/2026 was primarily driven by a -11.2% change in the company's Net Income Margin (%).
(LTM values as of)73120252222026Change
Stock Price ($)70.7765.03-8.1%
Change Contribution By: 
Total Revenues ($ Mil)20,48621,1083.0%
Net Income Margin (%)11.9%10.6%-11.2%
P/E Multiple14.314.0-2.3%
Shares Outstanding (Mil)4924792.7%
Cumulative Contribution-8.1%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/22/2026
ReturnCorrelation
CTSH-8.1% 
Market (SPY)9.4%36.2%
Sector (XLK)7.4%23.8%

Fundamental Drivers

The -19.6% change in CTSH stock from 1/31/2025 to 2/22/2026 was primarily driven by a -21.6% change in the company's P/E Multiple.
(LTM values as of)13120252222026Change
Stock Price ($)80.8865.03-19.6%
Change Contribution By: 
Total Revenues ($ Mil)19,41221,1088.7%
Net Income Margin (%)11.6%10.6%-8.9%
P/E Multiple17.814.0-21.6%
Shares Outstanding (Mil)4964793.5%
Cumulative Contribution-19.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/22/2026
ReturnCorrelation
CTSH-19.6% 
Market (SPY)15.6%57.7%
Sector (XLK)22.6%48.8%

Fundamental Drivers

The 2.9% change in CTSH stock from 1/31/2023 to 2/22/2026 was primarily driven by a 9.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120232222026Change
Stock Price ($)63.2165.032.9%
Change Contribution By: 
Total Revenues ($ Mil)19,36621,1089.0%
Net Income Margin (%)12.1%10.6%-12.8%
P/E Multiple13.914.00.4%
Shares Outstanding (Mil)5164797.7%
Cumulative Contribution2.9%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/22/2026
ReturnCorrelation
CTSH2.9% 
Market (SPY)75.9%53.2%
Sector (XLK)111.5%42.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CTSH Return10%-35%34%3%10%-21%-14%
Peers Return44%-21%2%7%-2%-18%-2%
S&P 500 Return27%-19%24%23%16%0%83%

Monthly Win Rates [3]
CTSH Win Rate58%42%58%58%58%0% 
Peers Win Rate63%42%55%53%48%20% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
CTSH Max Drawdown-18%-41%0%-14%-14%-21% 
Peers Max Drawdown-6%-35%-23%-22%-25%-20% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: ACN, IBM, G, EPAM, DXC. See CTSH Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/20/2026 (YTD)

How Low Can It Go

Unique KeyEventCTSHS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-44.2%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven79.2%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-41.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven71.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven198 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-32.9%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven49.1%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven953 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-69.1%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven223.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven419 days1,480 days

Compare to ACN, IBM, G, EPAM, DXC

In The Past

Cognizant Technology Solutions's stock fell -44.2% during the 2022 Inflation Shock from a high on 3/22/2022. A -44.2% loss requires a 79.2% gain to breakeven.

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About Cognizant Technology Solutions (CTSH)

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. The company offers customer experience enhancement, robotic process automation, analytics, and AI services in areas, such as digital lending, fraud detection, and next generation payments; the shift towards consumerism, outcome-based contracting, digital health, delivering integrated seamless, omni-channel, and patient-centered experience; and services that drive operational improvements in areas, such as clinical development, pharmacovigilance, and manufacturing, as well as claims processing, enrollment, membership, and billing to healthcare providers and payers, and life sciences companies, including pharmaceutical, biotech, and medical device companies. It also provides solution to manufacturers, retailers and travel and hospitality companies, as well as companies providing logistics, energy and utility services; and digital content, the creation of personalized user experience, and acceleration of digital engineering services to information, media and entertainment, and communications and technology companies. The company was founded in 1994 and is headquartered in Teaneck, New Jersey.

AI Analysis | Feedback

  • Like Accenture, providing global IT services and digital transformation consulting.
  • Similar to the technology consulting and managed services divisions of companies like IBM or Deloitte.

AI Analysis | Feedback

  • Digital Transformation Consulting: Providing strategic guidance and solutions to help businesses modernize their operations and adapt to digital changes.
  • Cloud Services: Assisting clients with cloud migration, infrastructure management, and optimizing applications across various cloud platforms.
  • Data, Analytics & AI: Developing solutions to extract insights from data, build AI models, and implement machine learning applications for informed decision-making.
  • Enterprise Application Services: Implementing, integrating, and managing core business applications such as ERP, CRM, and supply chain management systems.
  • Application Modernization & Development: Modernizing legacy applications and developing new, scalable software solutions leveraging agile and cloud-native approaches.
  • Cyber Security Services: Protecting clients' digital assets, data, and IT infrastructure from cyber threats through comprehensive security strategies and implementations.
  • Intelligent Automation: Implementing robotic process automation (RPA) and AI-driven automation solutions to streamline business operations and improve efficiency.

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Cognizant Technology Solutions (CTSH) primarily sells its services to other companies (Business-to-Business or B2B), rather than directly to individual consumers. Due to the nature of their business and client confidentiality agreements, Cognizant does not typically disclose the specific names of its individual major customer companies. However, their customer base is comprised of large enterprises across various key industries globally. Their financial reports generally segment their revenue by these industries, which provides insight into where their customers are concentrated. No single customer usually accounts for a material portion (e.g., more than 10%) of their total revenue, indicating a diversified customer base within these sectors. Cognizant's major customer segments by industry include:
  • Financial Services: This segment serves banks, capital markets firms, and insurance companies. These customers leverage Cognizant for digital transformation, regulatory compliance, risk management, and operational efficiency.
  • Healthcare: This segment includes life sciences companies (pharmaceutical, biotech, medical device), healthcare providers (hospitals, clinics), and payers (health insurance companies). Services focus on patient engagement, R&D, compliance, and claims processing.
  • Products and Resources: This broad segment encompasses customers in retail, consumer goods, travel and hospitality, manufacturing, logistics, automotive, energy, and utilities. These companies utilize Cognizant for supply chain optimization, customer experience enhancement, product innovation, and operational technology modernization.
  • Communications, Media and Technology: This segment serves telecommunications companies, media and entertainment firms, and other technology companies. Services include network modernization, content monetization, platform development, and digital product engineering.

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  • Amazon.com, Inc. (AMZN) - Parent company of Amazon Web Services
  • Microsoft Corporation (MSFT)
  • Alphabet Inc. (GOOGL) - Parent company of Google Cloud Platform
  • SAP SE (SAP)
  • Oracle Corporation (ORCL)
  • Salesforce, Inc. (CRM)
  • Cisco Systems, Inc. (CSCO)
  • Hewlett Packard Enterprise Company (HPE)
  • Dell Technologies Inc. (DELL)

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Ravi Kumar S, Chief Executive Officer

Prior to joining Cognizant in January 2023, Ravi Kumar S served as the President of Infosys from 2016 to 2022, where he led the global services organization across all industry segments. He also held senior positions at PricewaterhouseCoopers, Cambridge Technology Partners, Oracle, and Sapient. He began his career as a nuclear scientist at the Bhabha Atomic Research Center of India.

Jan Siegmund, Chief Financial Officer

Jan Siegmund was appointed Chief Financial Officer of Cognizant in September 2020. Before joining Cognizant, he served for seven years as Corporate Vice President and Chief Financial Officer of Automatic Data Processing (ADP). Earlier in his two-decade tenure with ADP, he held roles such as President of the Added Value Services Division and Chief Strategy Officer. He began his career at McKinsey & Company as a Senior Engagement Manager.

Surya Gummadi, President – Americas

Surya Gummadi is the President of Americas for Cognizant.

Rajesh Varrier, President – Operations, Chairman and Managing Director of Cognizant India

Rajesh Varrier serves as the President of Operations and is the Chairman and Managing Director of Cognizant India.

Kathryn (Kathy) Diaz, Chief People Officer

Kathryn (Kathy) Diaz holds the position of Chief People Officer at Cognizant.

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Key Risks to Cognizant Technology Solutions (CTSH)

  1. Intense Competition and AI Disruption: Cognizant operates in a highly competitive IT services market, facing rivals like Tata Consultancy Services and Infosys who are heavily investing in next-generation technology solutions, including Generative AI. This intense competition can erode Cognizant's pricing power in its core digital and cloud offerings and challenges its ability to consistently innovate and maintain market position. The rapid technological changes, particularly the shift to Generative AI, necessitate continuous adaptation and investment, posing both an opportunity and a significant risk to the company.
  2. Macroeconomic Uncertainties and Client Spending: Global economic uncertainties directly influence client spending and decision-making within the IT services sector. Prolonged economic downturns can lead to reduced IT spending, slower deal cycles, and increased pricing pressures, as IT modernization and digital transformation initiatives may be deemed discretionary and vulnerable to cost-cutting. This can significantly impact Cognizant's revenue and profitability.
  3. Regulatory Changes (H-1B Visa Fee): Regulatory changes, such as the proposed $100,000 fee for new H-1B visa holders, pose a sector-specific risk to Cognizant. Given the company's reliance on a global delivery model and a significant portion of its workforce located in India, such a fee could substantially impact operational costs and staffing strategies, affecting its overall financial performance.

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Generative AI (GenAI) is an emerging threat to Cognizant Technology Solutions.

This threat stems from the rapid advancement and adoption of GenAI tools that can automate significant portions of traditional IT services, including software development, testing, maintenance, code generation, and even some aspects of consulting and strategy. As clients increasingly leverage these capabilities internally or through more specialized providers, it could lead to reduced demand for Cognizant's labor-intensive services, margin compression due to increased efficiency, and potential disintermediation for standard project work. While Cognizant is actively investing in and integrating GenAI into its own offerings, the speed and breadth of this technological shift pose a fundamental challenge to its traditional business model and necessitate a profound transformation of its service delivery and workforce.

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Cognizant Technology Solutions (CTSH) operates within several large and growing addressable markets for its main products and services. These include IT services, consulting services, digital transformation services, cloud services, and application management services, all primarily addressed on a global scale.

  • IT Services: The global IT services market was estimated at approximately USD 1.50 trillion in 2024 and is projected to reach USD 2.59 trillion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.4% from 2025 to 2030. Another estimate places the global IT services market size at USD 1.218.6 billion in 2024, with a forecast to reach USD 2,289.3 billion by 2033, growing at a CAGR of 7.26% during 2025-2033. North America is a dominant region within this market.
  • Consulting Services: The global consulting services market was valued at approximately USD 250 billion in 2023 and is expected to grow to around USD 470 billion by 2032, with an impressive CAGR of 7% from 2024 to 2032. Another report indicates the global consulting services market size was worth around USD 319.83 billion in 2024 and is anticipated to reach approximately USD 450.02 billion by 2033, with a CAGR of 3.87% from 2024 to 2033. North America holds the largest share of this market.
  • Digital Transformation Services: The global digital transformation market size was estimated at USD 1,070.43 billion in 2024 and is projected to reach USD 4,617.78 billion by 2030, demonstrating a significant CAGR of 28.5% from 2025 to 2030. Another source estimates the digital transformation market size at USD 911.2 billion in 2024, with a projection to reach USD 3,289.4 billion by 2030, growing at a CAGR of 23.9% from 2024 to 2030. North America dominates the digital transformation market.
  • Cloud Services: The global cloud services market size was valued at USD 618.04 billion in 2024 and is expected to exceed USD 2,726.94 billion by 2034, with a CAGR of 16.00% from 2025 to 2034. Another valuation places the global cloud computing market size at approximately $912.77 billion in 2025, projected to reach $5.15 trillion by 2034, at a CAGR of 21.2% over the next decade. North America held the largest market share in the cloud computing industry in 2024.
  • Application Management Services: The global application management services market size was estimated at USD 41.98 billion in 2024 and is predicted to reach around USD 264.74 billion by 2034, expanding at a CAGR of 20.22% from 2024 to 2034. North America was the largest revenue-generating market in 2023.

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Cognizant Technology Solutions (CTSH) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. AI-Driven Transformation and Services: Cognizant is positioning itself as an "AI builder," with a significant focus on scaling "agentic AI" across enterprises and increasing generative AI engagements. The company has made substantial investments in AI-led platforms and intellectual property, viewing artificial intelligence as a net tailwind for its business. This focus is expected to power growth in the coming years.
  2. Strategic Acquisitions: Recent acquisitions, such as Belcan (engineering services) and Thirdera (a ServiceNow partner), have already contributed significantly to Cognizant's revenue growth and are anticipated to continue to do so. The company has also reiterated its long-term capital allocation framework, which includes the flexibility to pursue additional strategic acquisitions to strengthen and diversify its portfolio.
  3. Large Deal Wins and Client Centricity: Cognizant has demonstrated strong execution in securing major contracts, evidenced by its record number of large deal wins and sustained large deal momentum. The company's emphasis on client centricity and closing substantial deals translates into robust bookings, which are a key indicator of future revenue potential. Cognizant aims to return to the "Winner's Circle" by 2027, partly by sustaining this momentum in large deal acquisitions.
  4. Expansion in Digital Services and Cloud Solutions: Cognizant continues to support its clients in modernizing their technology, reimagining business processes, and transforming experiences through the adoption of cutting-edge digital technologies. The expansion of its digital services, including digital engineering, and cloud solutions, is a consistent and significant driver of anticipated revenue growth.
  5. Strong Performance in Key Industry Verticals: Cognizant has reported robust organic growth in specific industry segments, notably Health Sciences and Financial Services. The company's sustained focus and strong performance in these key verticals are expected to continue contributing significantly to its overall revenue expansion.

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Share Repurchases

  • In March 2025, Cognizant's Board of Directors approved a $2 billion increase to its existing share repurchase authorization, bringing the total remaining authorization to approximately $3.1 billion as of March 24, 2025.
  • The company expects to repurchase $1.1 billion of shares in 2025, an increase of $500 million over its prior expectation.
  • Cognizant repurchased $605 million in shares in 2024 and $1.064 billion in 2023.

Share Issuance

  • Issuance of common stock under stock-based compensation plans resulted in $49 million in 2024 and $57 million in 2023.
  • The 2023 Incentive Plan authorized the issuance of a total of 25.0 million shares of Class A common stock to eligible employees.

Outbound Investments

  • Cognizant completed the acquisition of Belcan in August 2024 for approximately $1.3 billion in cash and stock, aiming to strengthen its engineering research and development (ER&D) sector. The capital deployed on acquisitions for the full year 2024 was $1.6 billion.
  • In January 2023, the company acquired Thirdera for $430 million to enhance its artificial intelligence offerings and ServiceNow consulting capabilities.
  • Cognizant's capital allocation framework anticipates deploying approximately 50% of its free cash flow for acquisitions.

Capital Expenditures

  • Capital expenditures for Cognizant averaged $6.337 billion from fiscal years ending December 2020 to 2024.
  • In 2024, capital expenditures were $6.193 billion.
  • Capital expenditures reached a 5-year low of $5.383 billion in December 2023, compared to $6.47 billion in 2022.

Better Bets vs. Cognizant Technology Solutions (CTSH)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Cognizant Technology Solutions Earnings Notes12/29/2026
2With Cognizant Technology Solutions Stock Surging, Have You Considered The Downside?10/17/2025
3Cognizant Technology Solutions vs Adeia: Which Is A Better Investment?08/18/2025
4How Does Cognizant Technology Solutions Stock Stack Up Against Its Peers?08/13/2025
5Better Bet Than CTSH Stock: Pay Less Than Cognizant Technology Solutions To Get More From MRK, HCA 08/12/2025
6CTSH Dip Buy Analysis07/10/2025
7Cognizant Technology Solutions Total Shareholder Return (TSR): 5.0% in 2024 and -1.5% 3-yr compounded annual returns (above peer average)03/07/2025
8Cognizant Technology Solutions (CTSH) Operating Cash Flow Comparison02/17/2025
9ARTICLES 
10S&P 500 Stocks Trading At 52-Week Low02/18/2026
11Cognizant Technology Solutions vs Accenture: Which Is the Stronger Buy Today?02/04/2026
12How Does CTSH Stack Up Against Its Peers?09/22/2025
13CTSH Lost 5.0% In A Month. Do You Buy Or Wait?09/22/2025
14S&P 500 Movers | Winners: PSKY, ES, NEM | Losers: DXCM, CTSH, HUM09/22/2025
Title
0DASHBOARDS
1Cognizant Technology Solutions Earnings Notes
2With Cognizant Technology Solutions Stock Surging, Have You Considered The Downside?
3Cognizant Technology Solutions vs Adeia: Which Is A Better Investment?
4How Does Cognizant Technology Solutions Stock Stack Up Against Its Peers?
5Better Bet Than CTSH Stock: Pay Less Than Cognizant Technology Solutions To Get More From MRK, HCA 
6CTSH Dip Buy Analysis
7Cognizant Technology Solutions Total Shareholder Return (TSR): 5.0% in 2024 and -1.5% 3-yr compounded annual returns (above peer average)
8Cognizant Technology Solutions (CTSH) Operating Cash Flow Comparison
9ARTICLES
10S&P 500 Stocks Trading At 52-Week Low
11Cognizant Technology Solutions vs Accenture: Which Is the Stronger Buy Today?
12How Does CTSH Stack Up Against Its Peers?
13CTSH Lost 5.0% In A Month. Do You Buy Or Wait?
14S&P 500 Movers | Winners: PSKY, ES, NEM | Losers: DXCM, CTSH, HUM

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Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
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Buying dips for companies with high FCF yield and meaningfully high operating margin		-13.4%-13.4%-13.8%
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Buying dips for companies with high FCF yield and meaningfully high operating margin		17.7%17.7%-8.7%
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Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		2.3%2.3%-5.1%
NTNX_1302026_Dip_Buyer_High_CFO_Margins_ExInd_DE01302026NTNXNutanixDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		6.2%6.2%-6.3%
FICO_1302026_Monopoly_xInd_xCD_Getting_Cheaper01302026FICOFair IsaacMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-8.1%-8.1%-9.2%
CTSH_3312023_Dip_Buyer_ValueBuy03312023CTSHCognizant Technology SolutionsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		12.2%22.3%-4.2%
CTSH_9302022_Dip_Buyer_FCFYield09302022CTSHCognizant Technology SolutionsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		7.0%20.0%-9.5%

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Peer Comparisons

Peers to compare with:

Financials

CTSHACNIBMGEPAMDXCMedian
NameCognizan.AccentureInternat.Genpact EPAM Sys.DXC Tech. 
Mkt Price65.03215.35257.1638.93138.8513.35101.94
Mkt Cap31.1133.4240.26.87.72.319.4
Rev LTM21,10870,72665,4025,0095,29812,68316,896
Op Inc LTM3,32710,15111,5447535076752,040
FCF LTM2,59511,51211,8546424598281,712
FCF 3Y Avg2,1459,86511,7535455239301,538
CFO LTM2,88312,11613,4837295021,3242,104
CFO 3Y Avg2,44610,43313,4986215601,3941,920

Growth & Margins

CTSHACNIBMGEPAMDXCMedian
NameCognizan.AccentureInternat.Genpact EPAM Sys.DXC Tech. 
Rev Chg LTM7.0%6.6%4.5%7.4%14.3%-3.1%6.8%
Rev Chg 3Y Avg2.8%4.3%2.6%4.9%4.3%-5.1%3.6%
Rev Chg Q4.9%6.0%9.1%6.6%19.4%-1.0%6.3%
QoQ Delta Rev Chg LTM1.2%1.5%2.1%1.6%4.5%-0.2%1.6%
Op Mgn LTM15.8%14.4%17.7%15.0%9.6%5.3%14.7%
Op Mgn 3Y Avg15.4%14.3%16.4%14.4%11.0%-0.6%14.3%
QoQ Delta Op Mgn LTM0.1%-0.3%0.6%0.1%-1.1%0.0%0.0%
CFO/Rev LTM13.7%17.1%20.6%14.6%9.5%10.4%14.1%
CFO/Rev 3Y Avg12.2%15.5%21.4%13.1%11.5%10.5%12.6%
FCF/Rev LTM12.3%16.3%18.1%12.8%8.7%6.5%12.6%
FCF/Rev 3Y Avg10.7%14.6%18.6%11.5%10.8%7.0%11.2%

Valuation

CTSHACNIBMGEPAMDXCMedian
NameCognizan.AccentureInternat.Genpact EPAM Sys.DXC Tech. 
Mkt Cap31.1133.4240.26.87.72.319.4
P/S1.51.93.71.31.50.21.5
P/EBIT8.912.621.18.515.22.510.8
P/E14.017.530.412.320.85.515.7
P/CFO10.811.017.89.315.41.710.9
Total Yield7.6%8.5%5.9%9.9%4.8%18.3%8.1%
Dividend Yield0.5%2.8%2.6%1.7%0.0%0.0%1.1%
FCF Yield 3Y Avg5.6%5.0%6.0%7.4%3.8%27.3%5.8%
D/E0.00.10.30.20.01.90.1
Net D/E-0.0-0.00.20.1-0.11.10.0

Returns

CTSHACNIBMGEPAMDXCMedian
NameCognizan.AccentureInternat.Genpact EPAM Sys.DXC Tech. 
1M Rtn-22.4%-23.4%-11.6%-15.0%-36.4%-11.0%-18.7%
3M Rtn-14.0%-14.0%-13.0%-11.9%-23.3%6.0%-13.5%
6M Rtn-9.3%-15.9%7.4%-13.4%-20.6%-6.3%-11.4%
12M Rtn-22.0%-39.6%0.8%-25.8%-33.5%-31.7%-28.8%
3Y Rtn6.4%-16.2%117.9%-15.7%-55.5%-52.9%-16.0%
1M Excs Rtn-22.7%-23.8%-13.6%-15.4%-35.3%-11.4%-19.0%
3M Excs Rtn-13.3%-14.2%-15.2%-15.2%-26.7%4.8%-14.7%
6M Excs Rtn-14.9%-22.6%-0.8%-19.0%-24.6%-10.6%-16.9%
12M Excs Rtn-37.6%-56.0%-12.7%-40.6%-58.7%-46.7%-43.6%
3Y Excs Rtn-65.2%-87.2%42.5%-80.6%-128.6%-121.2%-83.9%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Financial Services (FS)5,8096,0726,0515,6215,869
Health Sciences (HS)5,6745,6315,3374,8524,695
Products and Resources (P&R)4,6284,5664,2763,6963,770
Communications, Media and Technology (CMT)3,2423,1592,8432,4832,449
Total19,35319,42818,50716,65216,783


Operating Income by Segment
$ Mil20252024202320222021
Health Sciences (HS)1,3521,1901,5271,3831,261
Financial Services (FS)1,1561,3231,7071,4491,605
Products and Resources (P&R)9841,0711,3011,0781,028
Communications, Media and Technology (CMT)625769925794732
Unallocated costs-1,428-1,385-2,634-2,590-2,173
Total2,6892,9682,8262,1142,453


Price Behavior

Price Behavior
Market Price$65.03 
Market Cap ($ Bil)31.6 
First Trading Date06/19/1998 
Distance from 52W High-24.6% 
   50 Days200 Days
DMA Price$80.24$74.91
DMA Trendupup
Distance from DMA-19.0%-13.2%
 3M1YR
Volatility35.9%30.0%
Downside Capture219.17109.87
Upside Capture77.6868.05
Correlation (SPY)43.4%58.1%
CTSH Betas & Captures as of 1/31/2026

 1M2M3M6M1Y3Y
Beta1.261.120.880.770.870.84
Up Beta3.472.220.590.470.910.83
Down Beta1.340.940.621.080.880.83
Up Capture39%124%148%81%66%57%
Bmk +ve Days11223471142430
Stock +ve Days7203268131394
Down Capture87%76%78%62%92%97%
Bmk -ve Days9192754109321
Stock -ve Days13202856119357

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CTSH
CTSH-25.2%30.0%-0.96-
Sector ETF (XLK)17.0%27.5%0.5549.4%
Equity (SPY)13.5%19.4%0.5358.3%
Gold (GLD)74.5%25.6%2.15-8.2%
Commodities (DBC)7.2%16.9%0.2513.6%
Real Estate (VNQ)7.1%16.7%0.2446.9%
Bitcoin (BTCUSD)-29.7%44.9%-0.6521.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CTSH
CTSH-1.7%26.4%-0.06-
Sector ETF (XLK)16.1%24.8%0.5953.8%
Equity (SPY)13.4%17.0%0.6261.7%
Gold (GLD)22.6%17.1%1.083.9%
Commodities (DBC)10.9%19.0%0.4614.0%
Real Estate (VNQ)5.0%18.8%0.1748.6%
Bitcoin (BTCUSD)7.4%57.1%0.3520.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CTSH
CTSH3.5%28.2%0.17-
Sector ETF (XLK)23.3%24.2%0.8859.7%
Equity (SPY)16.1%17.9%0.7766.0%
Gold (GLD)14.8%15.6%0.791.7%
Commodities (DBC)8.6%17.6%0.4020.3%
Real Estate (VNQ)7.0%20.7%0.3053.9%
Bitcoin (BTCUSD)68.0%66.7%1.0715.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date1302026
Short Interest: Shares Quantity25.2 Mil
Short Interest: % Change Since 11520268.2%
Average Daily Volume5.0 Mil
Days-to-Cover Short Interest5.1 days
Basic Shares Quantity479.0 Mil
Short % of Basic Shares5.3%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/4/20263.0%  
10/29/20255.7%7.4%14.1%
7/30/2025-2.4%-3.6%-2.0%
4/30/20252.3%5.9%10.5%
2/5/20254.2%5.4%-0.1%
10/30/20240.3%6.8%8.7%
7/31/20240.8%-3.3%2.3%
5/1/20241.4%3.6%1.6%
...
SUMMARY STATS   
# Positive121416
# Negative13108
Median Positive4.9%5.4%6.5%
Median Negative-2.5%-4.1%-5.5%
Max Positive9.9%7.4%14.1%
Max Negative-13.8%-14.2%-12.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/12/202610-K
09/30/202510/29/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/12/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/14/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/15/202310-K
09/30/202211/03/202210-Q
06/30/202207/28/202210-Q
03/31/202205/05/202210-Q

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Gummadi, SuryaPresident - AmericasDirectSell106202681.427,000569,9622,228,472Form
2Kerdman, AlinaSVP, Controller & CAODirectSell105202684.1420317,08037,190Form
3Patsalos-Fox, Michael DirectSell1231202585.173,000255,5142,957,921Form
4Patsalos-Fox, Michael DirectSell1229202585.153,000255,4623,553,391Form
5Patsalos-Fox, Michael DirectSell1229202585.304,000341,1883,218,174Form

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