Every material Form 8-K Cognizant filed with the SEC in 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 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
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Cognizant filing is on SEC EDGAR ↗. 8-K briefs of other companies →