Every material Form 8-K Cognizant has filed with the SEC since June 10, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Cognizant reported third-quarter 2026 revenue of $5.7 billion, up 4.6% year over year, and GAAP diluted EPS of $1.39 versus $0.56 a year earlier, which included a one-time tax charge. The company revised its 2026 constant currency revenue growth guidance to 4.0% to 4.4% and its adjusted diluted EPS guidance to $5.72 to $5.79, while Project Leap costs are now estimated at $180 million to $250 million, and third-quarter bookings fell 7%.
Q3 2026 revenue of $5,664 million, up 4.6% year over year (4.8% in constant currency); GAAP operating margin 15.4%, down 60 basis points
Adjusted diluted EPS of $1.49, up 7.2%; adjusted operating margin 16.3%, up 30 basis points
2026 adjusted diluted EPS guidance revised to $5.72 to $5.79, growth of 8% to 10%; full-year reported revenue expected at $22.05 billion to $22.14 billion
Project Leap total costs now estimated at $180 million to $250 million; Q3 bookings declined 7%, trailing-twelve-month bookings rose 4% to $28.7 billion
On October 5, 2026, Cognizant and its subsidiary Cognizant Worldwide Limited signed a new unsecured credit agreement with JPMorgan Chase Bank, N.A. as administrative agent, replacing the company's existing credit facilities. The company borrowed approximately $1.0 billion under the new revolver, and the facilities mature on October 3, 2031, so shareholders should note the higher debt load and the leverage covenant that applies.
Term loan facility of $550 million and revolving credit facility of $1.85 billion, both maturing October 3, 2031
Term loan proceeds repaid the existing term loan, and about $1.0 billion borrowed under the revolver repaid the existing revolver
Financial covenant caps the Leverage Ratio at 3.50:1.00, or 4.00:1.00 for up to four quarters after certain material acquisitions
Borrowers may request an increase of up to $1.2 billion plus voluntary prepayments, subject to conditions
Cognizant reported second-quarter 2026 revenue of $5.5 billion, up 4.5% year over year, with GAAP diluted EPS of $1.36 and adjusted diluted EPS of $1.37, up 4.6%. The company raised its full-year 2026 adjusted diluted EPS guidance to $5.70 to $5.82, while Q2 bookings fell 6% year over year and the company repurchased $1.153 billion of shares in the quarter.
Q2 revenue of $5.5 billion rose 4.5% year over year, or 4.1% in constant currency
GAAP diluted EPS of $1.36 rose 3.8%; adjusted diluted EPS of $1.37 rose 4.6%
2026 adjusted diluted EPS guidance raised to $5.70 to $5.82, growth of 8% to 10%
Q2 bookings declined 6% year over year; trailing 12-month bookings rose 5% to $29.1 billion
Cognizant reported first-quarter 2026 revenue of $5.4 billion, up 5.8% year-over-year, and GAAP diluted EPS of $1.39, up 3.7%. It raised its 2026 Adjusted Operating Margin guidance to 16.0% to 16.2% while keeping constant currency revenue growth guidance at 4.0% to 6.5%, but also introduced Project Leap, which it expects to cost $230 million to $320 million, mostly in 2026.
Q1 revenue of $5.4 billion rose 5.8% year-over-year (3.9% in constant currency); GAAP operating margin fell to 15.6% from 16.7%.
Adjusted diluted EPS was $1.40, up 13.8% from $1.23 a year earlier; GAAP diluted EPS was $1.39 versus $1.34.
Project Leap is expected to cost $230 million to $320 million, with in-year savings of about $200 million to $300 million in 2026.
Bookings rose 21% in Q1 with seven large deals; the company repurchased 6.3 million shares for $427 million and declared a $0.33 quarterly dividend.
Cognizant disclosed that on February 23, 2026, Balu Ganesh Ayyar moved from his role as President of Intuitive Operations and Automation and Industry Solutions to become President of Asia Pacific & Japan and Industry Solutions Group. The filing is an internal officer reassignment and does not include financial results or other financial figures.
Effective date of the change: February 23, 2026
Balu Ganesh Ayyar's prior role: President - Intuitive Operations and Automation and Industry Solutions
New role: President – Asia Pacific & Japan and Industry Solutions Group
Filing signed by John Kim, Chief Legal Officer, Chief Administrative Officer and Corporate Secretary, dated February 26, 2026
Cognizant reported fourth-quarter and full-year 2025 results on February 4, 2026, with revenue and profit up year over year. The company also issued 2026 guidance, forecasting revenue of $22.14 billion to $22.66 billion and adjusted diluted EPS of $5.56 to $5.70.
Q4 2025 revenue was $5.3 billion, up 4.9% year over year; Q4 GAAP diluted EPS was $1.34, up from $1.10.
Full-year 2025 revenue was $21.1 billion, up 7.0%; adjusted diluted EPS was $5.28, up 11%; GAAP diluted EPS was $4.56, up 1%, including a one-time non-cash income tax charge of $0.80.
2026 guidance: revenue of $22.14 billion to $22.66 billion and adjusted diluted EPS of $5.56 to $5.70.
The quarterly cash dividend was raised 6.5% to $0.33 per share, and the company expects to return $1.6 billion to shareholders in 2026.
Cognizant reported third-quarter 2025 revenue of $5.42 billion, up 7.4% year over year and above the high end of its guidance range. GAAP diluted EPS fell to $0.56 from $1.17 because of a one-time, non-cash income tax charge of $0.80 per share, while adjusted EPS rose 11% to $1.39.
Q3 revenue of $5.42 billion rose 7.4% year over year (6.5% in constant currency); GAAP diluted EPS was $0.56 versus $1.17 a year earlier
Adjusted diluted EPS was $1.39 versus $1.25; GAAP EPS includes a $0.80 one-time non-cash income tax charge
Full-year 2025 constant currency revenue growth guidance raised to 6.0% to 6.3%; full-year adjusted diluted EPS guidance is $5.22 to $5.26
Company repurchased $450 million of shares in Q3 and returned $1.5 billion year to date; it expects to return $2.0 billion in 2025
Cognizant reported second-quarter 2025 revenue of $5.25 billion, up 8.1% year over year and above the high end of its guidance range, with GAAP diluted EPS of $1.31, up 15%. The company narrowed its 2025 constant-currency revenue growth guidance to 4.0% to 6.0% and raised its planned 2025 shareholder returns to $2.0 billion from $1.7 billion. Full-year adjusted operating margin guidance was unchanged at 15.5% to 15.7%.
Q2 2025 revenue of $5.25 billion, up 8.1% from $4.85 billion in Q2 2024; GAAP diluted EPS of $1.31 versus $1.14
Adjusted diluted EPS of $1.31 versus $1.17 a year earlier, up 12%
Planned 2025 shareholder returns raised to $2.0 billion from $1.7 billion; $885 million returned year to date
Full-year 2025 revenue guidance of $20.7 billion to $21.1 billion; adjusted EPS guidance of $5.08 to $5.22
Cognizant said its SVP, Controller and Chief Accounting Officer, Robert Telesmanic, will retire effective July 1, 2025, and the Board approved Alina Kerdman, currently SVP, Assistant Global Controller, to succeed him in that role on the same date. Mr. Telesmanic will stay on as a non-executive officer and special advisor until December 31, 2025 to support an orderly transition, and Ms. Kerdman's offer letter sets annual target compensation of $1,200,000.
Robert Telesmanic notified the company on May 23, 2025 of his plans to retire; he will advise through December 31, 2025.
Alina Kerdman, age 44, joined Cognizant in 2010 and has been SVP, Assistant Global Controller since December 2023.
Target compensation of $1,200,000 includes a $400,000 base salary and a $200,000 annual cash incentive target.
Transition awards include RSUs with a $150,000 grant-date fair value and PSUs of approximately $50,411, both to be granted July 1, 2025.
Cognizant reported first-quarter 2025 revenue of $5.1 billion, up 7.5% year over year and above the high end of its guidance range, with GAAP diluted EPS of $1.34, up 22%. The company left its 2025 revenue and adjusted EPS guidance unchanged, and it plans to return about $1.7 billion to shareholders this year through buybacks and dividends. Q1 bookings fell 7%, though trailing-twelve-month bookings rose 3%.
Q1 2025 revenue was $5,115 million, up 7.5% year over year (8.2% in constant currency).
GAAP diluted EPS was $1.34, up from $1.10; adjusted diluted EPS was $1.23, up 10%, after excluding a $62 million gain on sale of an office complex in India.
Full-year 2025 revenue guidance of $20.5 billion to $21.0 billion and adjusted diluted EPS guidance of $4.98 to $5.14 are unchanged.
Q1 bookings declined 7% year over year; trailing-twelve-month bookings rose 3% to $26.7 billion.
Cognizant reported fourth-quarter and full-year 2024 results on February 5, 2025. Fourth-quarter revenue rose 6.8% year-over-year, and full-year GAAP diluted EPS rose to $4.51 from $4.21, while fourth-quarter GAAP diluted EPS slipped to $1.10 from $1.11. The company guided 2025 revenue to $20.3 billion to $20.8 billion and adjusted diluted EPS to $4.90 to $5.06.
Q4 2024 revenue was $5.1 billion (5,082 million), up 6.8% year-over-year; GAAP diluted EPS was $1.10 versus $1.11 a year earlier.
Full-year 2024 revenue was $19.7 billion, up 2.0%; GAAP diluted EPS was $4.51 versus $4.21 in 2023.
2025 guidance: full-year revenue of $20.3 billion to $20.8 billion and adjusted diluted EPS of $4.90 to $5.06.
Cognizant returned $1.2 billion to shareholders in 2024 and declared a quarterly dividend of $0.31 per share, up 3%, payable February 26, 2025.
Cognizant reported third-quarter 2024 revenue of $5.04 billion, up 3.0% from a year earlier, with GAAP diluted EPS of $1.17 compared with $1.04. The company narrowed its full-year 2024 revenue growth guidance to 1.4% to 1.9% in constant currency, with the midpoint unchanged, and kept its full-year Adjusted Diluted EPS guidance at $4.63 to $4.67.
Q3 2024 revenue $5.04 billion vs $4.90 billion a year earlier; Adjusted Diluted EPS $1.25 vs $1.16
Adjusted Operating Margin 15.3%, down 20 basis points year-over-year; GAAP operating margin 14.6%, up 60 basis points
Trailing 12-month bookings declined 2% to $26.2 billion; Q3 bookings were flat year-over-year
Acquisition of Belcan completed in the third quarter for approximately $1.3 billion in cash and stock
Cognizant reported second-quarter 2024 revenue of $4.85 billion, down 0.7% from $4.89 billion a year earlier, but above the high end of its guidance range. GAAP diluted EPS rose to $1.14 from $0.91, and the company narrowed its full-year 2024 revenue guidance to a decline of 0.5% to growth of 1.0% in constant currency. The company also signed a definitive agreement to acquire Belcan for $1.3 billion in cash and stock.
Q2 2024 revenue of $4.85 billion, down 0.7% year over year; GAAP operating margin 14.6% vs 11.8% a year earlier
GAAP diluted EPS $1.14 vs $0.91; adjusted diluted EPS $1.17 vs $1.10
Full-year 2024 adjusted EPS guidance of $4.62 to $4.70; adjusted operating margin guidance unchanged at 15.3% to 15.5%
Belcan acquisition for $1.3 billion in cash and stock, expected to close in Q3 2024; quarterly dividend of $0.30 per share declared
Cognizant increased its board to 13 directors and appointed Karima Silvent, Group Chief Human Resources Officer of AXA, effective July 11, 2024. The filing describes her as independent under Nasdaq rules and says she will receive pro-rated director compensation, which is routine for a mid-cycle board addition.
Karima Silvent appointed to the Board effective July 11, 2024; board size increased to 13 directors
Silvent is Group Chief Human Resources Officer and a member of the Management Committee of AXA, a role held since 2017
Compensation includes a $89,863 pro-rated cash retainer and restricted stock units valued at $197,698, vesting July 11, 2025
Committee assignments to be determined later; she will stand for re-election at the 2025 annual meeting
Cognizant's compensation committee approved a $505,087 payment on July 2, 2024, covering CFO Jatin Dalal's settlement of a lawsuit and arbitration brought by his former employer, Wipro Limited. The payment includes his settlement payment to Wipro and reimbursement of his legal fees, and the settlement was reached without admission of liability by either party. The filing describes a one-time personnel-related payment and does not indicate any change in financial results or guidance.
On July 2, 2024, the compensation committee approved a $505,087 payment to CFO Jatin Dalal.
The payment settles a lawsuit and arbitration by Wipro over alleged breach of non-compete and confidentiality obligations.
The payment covers Dalal's settlement payment to Wipro and reimbursement of his legal fees.
The settlement was reached without admission of liability by either party.
Cognizant agreed on June 5, 2024 to acquire Belcan, a global engineering services provider, for a total purchase price of about $1.29 billion, consisting of $1.19 billion in cash and 1,470,589 Cognizant Class A shares. The deal is expected to close in the quarter ending September 30, 2024, subject to regulatory approvals and other conditions, and the company expects it to be broadly neutral to EPS in 2025 and accretive in 2026.
Total purchase price of about $1.29 billion: $1.19 billion in cash plus 1.47 million Cognizant shares, valued at $97 million at the June 7, 2024 closing price
Belcan annualized revenue expected to be over $800 million; revenue grew at an 8% compound annual growth rate over the last two years
Cognizant expects over $100 million in annual revenue synergies within three years and intends to increase its share repurchase plan to maintain 2024 share count guidance of 497 million
Closing requires regulatory approvals, including Hart-Scott-Rodino and UK National Security and Investment Act clearance; the deal is not subject to a financing condition
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