Cognizant Technology Solutions Corp

Company facts

Industry

Services-Computer Programming Services

Headquarters

Teaneck, New Jersey

Most recent report

10-Q, filed Jul 29, 2026

Filings on record

1,000+ filings

On EDGAR

CIK 1058290

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 5 positive, 7 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Core financials with material buybacks, debt, acquisitions, and litigation.
  Notable

  • $84 million charge in Q2 2026 for Project Leap; total expected $230 million to $320 million.
  Negative

  • $365 million deposit with Indian tax authority at risk in tax dispute, case pending.
  • Class action for bench terminations; second phase for individual damages could be material, no accrual.

• Management's Discussion (Item 2)

  Major restructuring, liability reversal, large buyback, acquisition, DSO rise.
  Positive

  • Revenue up $236M (4.5%) or 4.1% constant currency in Q2 2026.
  • Operating margin up 30 bps to 15.9% in Q2 2026.
  • Diluted EPS up $0.05 (3.8%) to $1.36 in Q2 2026.
  Notable

  • Project Leap restructuring charge of $84M in Q2 2026, total expected $230M-$320M.
  • $81M benefit from partial reversal of 2019 India Defined Contribution Obligation liability recorded in Q2 2026.
  • Repurchased $1,153M of Class A common stock in Q2 2026 ($653M open market, $500M ASR).
  • Acquired Astreya for $634M (incl. $25M contingent consideration), borrowing $1,000M under revolver.
  Negative

  • DSO increased to 88 days at June 30, 2026, up 7 days from Dec 31, 2025 (81 days).

• Unregistered Sales and Repurchases (Item 2)

  Large buyback surge and $2B authorization increase both detailed.
  Positive

  • Buyback authorization raised to $15.5B in May 2026, up $2B from prior $13.5B.
  • Q2 2026 repurchases totaled $1,153M at avg $51.29, up from $427M in Q1 2026.
  Notable

  • Remaining authorization balance $2,338M as of June 30, 2026 after heavy Q2 spending.
  • May 2026 ASR agreement for $500M executed, repurchasing 9.7M shares at avg $51.54.

What changed: Jun 2026 vs. Mar 2026

About 17% of CTSH's Jun 2026 10-Q is new information. 77 paragraphs were added, 120 changed, and 20 removed. Below are the most important lines SECSift identified.

• Item 2 91
• Item 1 56
• Item 5 6
• Item 3 2
• Item 4 2
• Item 6 2
• Item 1A 1