Cognizant Technology Solutions Corp

Company facts

Industry

Services-Computer Programming Services

Headquarters

Teaneck, New Jersey

Most recent report

10-Q, filed Oct 29, 2026

Incorporated

N/A

Filings on record

1,000+ filings

On EDGAR

CIK 1058290

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 2 of 11 sections worth reading, with 1 positive, 10 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Debt refinancing, large acquisitions, restructuring, and a major tax dispute are all here.
  Notable

  • Remaining performance obligations: $6,224M as of Sep 30, 2026, with 95% expected within 5 years.
  • Borrowed $1,000M under revolver in Q2 2026, then refinanced all debt in October 2026 with new $2.4B facility.
  • Syntel lawsuit: jury awarded ~$298M in March 2026, but Syntel appealed; no gain recorded yet.
  • India PF liability: recorded $81M benefit in Q2 2026 from new rules; remaining liability is $20M.
  • Segment reporting changed in Q1 2026: now allocates corporate costs and amortization to segments.
  • Post-period: agreed to acquire DyFlex Solutions for ~$210M in cash on Oct 21, 2026.
  Negative

  • Project Leap restructuring: $135M in charges YTD 2026, with expected total of $180M-$250M.
  • ITD dispute: $360M deposited with Indian tax authority, case pending at High Court; no reserve recorded.

• Management's Discussion (Item 2)

  Project Leap restructuring, India tax treaty risk, and $1B credit facility draw all need attention.
  Positive

  • Adjusted operating margin rose 30 bps to 16.3% in Q3 2026, driven by Project Leap savings and FX benefits.
  Notable

  • Revenue growth of 4.6% (4.8% constant currency) in Q3 2026, with acquisitions adding 210 bps and third-party product sales adding 190 bps.
  • India rupee depreciation boosted operating margin by ~120 bps in Q3 2026 (net of hedges), a large FX tailwind.
  • DSO rose to 89 days at Sept 30, 2026 from 81 days at Dec 31, 2025, a worsening in cash collection speed.
  • Share repurchases totaled $1,838M in first nine months of 2026, including $500M via ASR agreements.
  Negative

  • India-Mauritius tax treaty amendment could increase Cognizant's effective tax rate; company still evaluating impact.
  • Borrowed $1,000M under revolving credit facility in Q2 2026, bringing total debt outstanding to $1,000M as of Sept 30, 2026.

What changed: Sep 2026 vs. Jun 2026

About 7% of CTSH's Sep 2026 10-Q is new information. 33 paragraphs were added, 124 changed, and 40 removed. Below are the most important lines SECSift identified.

• Item 2 69
• Item 1 39
• Item 5 5
• Item 1A 3
• Item 4 2
• Item 6 2