Analyst Consensus ?
ConsensusHold49 ratings
Bullish2346.9%
Neutral2142.9%
Bearish510.2%
1 unmapped firm rating excluded from the percentages.
Cognizant Technology Solutions Corporation · CTSH · FY2026 Q1 · Calendar Q2 2026
Cognizant Q1 2026: AI-Assisted Coding at 40%, Atria Acquisition Expands AI Infrastructure
Cognizant delivered a solid first quarter with revenue and adjusted EPS above estimates, driven by AI-led productivity gains and strong large-deal momentum. The acquisition of Atria expands AI infrastructure capabilities, while Project LEAP's cost-saving targets underpin raised margin guidance. The market response was muted, however, with a slight negative abnormal move and further drift in the sessions following the print, as investors weighed macro uncertainty and the sustainability of AI-driven productivity against a modest revenue growth profile.
Reported Before market openNASDAQTechnology
$26.47B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.40
Consensus $1.34
EPS surprise
+4.5%
Reported versus consensus
Reported revenue
$5.41B
Consensus $5.41B
Revenue surprise
-0.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.8%
Event window
SPY move
-0.0%
Same window
Abnormal move
-0.7%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
-1.6%
Up to 20 sessions
CTSHSPY benchmark
Ask FN2 about CTSH FY2026 Q1
Transcript, numbers and history already loaded
Why did CTSH fall 0.8% after beating EPS estimates in FY2026 Q1?What changed in CTSH's guidance and outlook in FY2026 Q1?Give me the bull and bear case for CTSH after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Revenue grew 3.9% year over year with 21% bookings growth, exceeding the upper half of guidance. Adjusted EPS increased 14% YoY to $1.40, beating the $1.34 consensus estimate by 4.5%; revenue of $5.41 billion was essentially in line. AI-assisted coding now represents approximately 40% of the software development cycle, enabled by token metering. The company announced a definitive agreement to acquire Atria, a global IT managed services provider specializing in AI infrastructure. Project LEAP is expected to deliver $200-300 million in cost savings in 2026 and lift adjusted operating margin guidance to 16.0-16.2%.
Guidance delta
Full-year revenue guidance was maintained. Adjusted operating margin guidance was raised to 16.0-16.2%, reflecting expected cost savings from Project LEAP. Overall guidance sentiment was characterized as maintained.
Key takeaways
- Revenue and bookings exceeded the upper half of guidance, with strong large-deal momentum continuing from Q4 2025.
- AI Builder strategy is delivering measurable productivity gains, with AI-assisted coding at 40% of the development cycle and token-metered pricing models gaining traction.
- Acquisition of Atria enhances AI infrastructure capabilities and supports outcome-based pricing models.
- Project LEAP targets $200-300 million in 2026 cost savings and supports an upward revision in adjusted operating margin guidance to 16.0-16.2%.
- Management remains confident despite macroeconomic and regulatory headwinds, with bullish score at 82.
Management priorities
- Roll out the AI Builder stack across three strategic vectors to scale AI-led productivity.
- Launch and scale the Cognizant Innovation Network to invest in AI start-ups.
- Complete the Atria acquisition and integrate its AI infrastructure capabilities.
- Execute Project LEAP to achieve $200-300 million in cost savings and reinvest in growth.
- Deepen partnerships with Google, Microsoft, OpenAI, Palantir, and Anthropic.
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Beat
Miss
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Analyst 52W Price Targets
$62.52Previous close
$44Low
$72.93Average
$107High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 27, 2026 |
| Guggenheim | Buy | Buy | Maintain | Oct 27, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Oct 26, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 26, 2026 |
| TD Cowen | Hold | Hold | Maintain | Oct 13, 2026 |
| Wedbush | Outperform | Outperform | Maintain | Oct 9, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Sep 18, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 30, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 30, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 24, 2026 |
| Baird | Neutral | Neutral | Maintain | Jul 10, 2026 |
| Mizuho | Neutral | Neutral | Maintain | May 6, 2026 |
| UBS | Neutral | Neutral | Maintain | Apr 13, 2026 |
| William Blair | Outperform | Market Perform | Upgrade | Nov 21, 2025 |
| TD Securities | Hold | Hold | Maintain | May 1, 2025 |
| Needham | Hold | Hold | Maintain | May 1, 2025 |
| BMO Capital | Market Perform | Market Perform | Maintain | May 1, 2025 |
| Barclays | Overweight | Overweight | Maintain | Apr 25, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Sep 12, 2024 |
| B of A Securities | Neutral | Underperform | Upgrade | Aug 7, 2024 |
| Evercore ISI Group | In Line | In Line | Maintain | Mar 26, 2024 |
| Jefferies | Buy | Hold | Upgrade | Jan 11, 2024 |
| Societe Generale | Sell | Hold | Downgrade | Jan 5, 2024 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Jan 4, 2024 |
| HSBC | Buy | Hold | Upgrade | May 5, 2023 |
| MoffettNathanson | Underperform | Market Perform | Downgrade | Jan 19, 2023 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Jul 28, 2022 |
| Berenberg | Hold | Hold | Maintain | Feb 2, 2021 |
| Credit Suisse | Outperform | Outperform | Maintain | Dec 29, 2020 |
| Atlantic Equities | Underweight | Underweight | Maintain | Feb 19, 2020 |
| Ambit Capital | Sell | Sell | Maintain | Dec 23, 2019 |
| Edward Jones | Buy | Hold | Upgrade | Nov 11, 2019 |
| Argus Research | Hold | Buy | Downgrade | May 10, 2019 |
| Argus | Hold | Buy | Downgrade | May 10, 2019 |
| Keybanc | Overweight | Downgrade | May 3, 2019 | |
| Bernstein | Outperform | Market Perform | Upgrade | Jan 25, 2019 |
| Bank of America | Underperform | Underperform | Maintain | Nov 2, 2018 |
| Nomura | Neutral | Neutral | Maintain | Feb 8, 2018 |
| Pivotal Research | Buy | Buy | Maintain | Nov 8, 2017 |
| Loop Capital | Buy | Hold | Upgrade | Aug 4, 2017 |
| SunTrust Robinson Humphrey | Buy | Hold | Upgrade | Apr 13, 2017 |
| CLSA | Buy | Buy | Maintain | Sep 14, 2016 |
| Pacific Crest | Overweight | Overweight | Maintain | Jul 12, 2016 |
| Sterne Agee CRT | Neutral | Neutral | Maintain | Dec 17, 2015 |
| Oppenheimer | Outperform | Outperform | Maintain | May 4, 2015 |
| Tigress Financial | Buy | Buy | Maintain | Oct 17, 2013 |
| Evercore Partners | Overweight | Overweight | Maintain | Apr 15, 2013 |
| PiperJaffray | Overweight | Overweight | Maintain | Nov 23, 2012 |
| Piper Sandler | Overweight | Overweight | Maintain | Nov 23, 2012 |
| BGB Securities | Hold | Hold | Maintain | May 7, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $62.52. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Guggenheim | Jonathan Lee | $80 | $69.34 | +28.0% | Oct 27, 2026 |
| Needham | Analyst unavailable | $78 | $70.18 | +24.8% | Oct 26, 2026 |
| Mizuho Securities | Dan Dolev | $64 | $55.78 | +2.4% | Aug 6, 2026 |
| Susquehanna | Analyst unavailable | $82 | $52.4 | +31.2% | Jul 30, 2026 |
| Robert W. Baird | Analyst unavailable | $68 | $52.39 | +8.8% | Jul 30, 2026 |
| Morgan Stanley | James Faucette | $51 | $52.24 | -18.4% | Jul 30, 2026 |
| Guggenheim | Analyst unavailable | $65 | $45.45 | +4.0% | Jul 27, 2026 |
| RBC Capital | Analyst unavailable | $55 | $43.01 | -12.0% | Jul 24, 2026 |
| RBC Capital | Daniel Perlin | $47 | $43.01 | -24.8% | Jul 24, 2026 |
| Deutsche Bank | Analyst unavailable | $55 | $43.4 | -12.0% | Jul 10, 2026 |
| Robert W. Baird | Analyst unavailable | $55 | $43.4 | -12.0% | Jul 10, 2026 |
| Wells Fargo | Analyst unavailable | $61 | $43.4 | -2.4% | Jul 10, 2026 |
| Morgan Stanley | Analyst unavailable | $44 | $41.83 | -29.6% | Jun 23, 2026 |
| Berenberg Bank | Analyst unavailable | $59 | $51.05 | -5.6% | Jun 17, 2026 |
| Wedbush | Steven Wahrhaftig | $70 | $53.21 | +12.0% | Jun 8, 2026 |
| Truist Financial | Arvind Ramnani | $66 | $55.76 | +5.6% | Jun 1, 2026 |
| Mizuho Securities | Analyst unavailable | $68 | $51.87 | +8.8% | May 6, 2026 |
| Susquehanna | Analyst unavailable | $88 | $52.9 | +40.8% | May 1, 2026 |
| Morgan Stanley | James Faucette | $63 | $52.42 | +0.8% | Apr 30, 2026 |
| Wedbush | Analyst unavailable | $56 | $54.7 | -10.4% | Apr 30, 2026 |
| Goldman Sachs | Analyst unavailable | $75 | $54.7 | +20.0% | Apr 29, 2026 |
| Morgan Stanley | Analyst unavailable | $70 | $55.08 | +12.0% | Apr 27, 2026 |
| Robert W. Baird | Analyst unavailable | $72 | $57.44 | +15.2% | Apr 10, 2026 |
| Wedbush | Analyst unavailable | $61 | $59.2 | -2.4% | Apr 9, 2026 |
| UBS | Analyst unavailable | $71 | $61.02 | +13.6% | Mar 13, 2026 |
| BMO Capital | Analyst unavailable | $83 | $69.56 | +32.8% | Feb 12, 2026 |
| Mizuho Securities | Dan Dolev | $87 | $77.08 | +39.2% | Feb 9, 2026 |
| Morgan Stanley | Analyst unavailable | $82 | $76.71 | +31.2% | Feb 5, 2026 |
| BMO Capital | Analyst unavailable | $96 | $83.3 | +53.6% | Jan 29, 2026 |
| Guggenheim | Jonathan Lee | $100 | $84.65 | +59.9% | Jan 28, 2026 |
| Deutsche Bank | Analyst unavailable | $100 | $84.18 | +59.9% | Jan 26, 2026 |
| Susquehanna | James Friedman | $98 | $84.54 | +56.7% | Jan 23, 2026 |
| Berenberg Bank | Meha Pau | $107 | $84.03 | +71.1% | Jan 22, 2026 |
| Wells Fargo | Analyst unavailable | $98 | $84.47 | +56.7% | Jan 14, 2026 |
| UBS | Analyst unavailable | $82 | $80.72 | +31.2% | Dec 8, 2025 |
| UBS | Analyst unavailable | $78 | $71.82 | +24.8% | Oct 30, 2025 |
| Mizuho Securities | Dan Dolev | $85 | $71.69 | +36.0% | Oct 30, 2025 |
| Goldman Sachs | James Schneider | $84 | $67.82 | +34.4% | Oct 29, 2025 |
| Wells Fargo | Jason Kupferberg | $82 | $68.77 | +31.2% | Oct 21, 2025 |
| Guggenheim | Jonathan Lee | $85 | $66.7 | +36.0% | Oct 21, 2025 |
| Barclays | Ramsey El-Assal | $95 | $80.06 | +52.0% | Dec 17, 2024 |
| Mizuho Securities | Dan Dolev | $83 | $74.98 | +32.8% | Oct 29, 2024 |
| Deutsche Bank | Bryan Keane | $80 | $76.87 | +28.0% | Oct 22, 2024 |
| Goldman Sachs | James Schneider | $76 | $76.3 | +21.6% | Sep 11, 2024 |
| RBC Capital | Daniel Perlin | $82 | $77.27 | +31.2% | Aug 28, 2024 |
| Bank of America Securities | Jason Kupferberg | $75 | $72.65 | +20.0% | Aug 7, 2024 |
| BMO Capital | Keith Bachman | $85 | $75.68 | +36.0% | Aug 1, 2024 |
| Goldman Sachs | James Schneider | $72 | $68.34 | +15.2% | Jun 24, 2024 |
| Deutsche Bank | Bryan Keane | $70 | $67.25 | +12.0% | Jun 10, 2024 |
| BMO Capital | Keith Bachman | $77 | $65.68 | +23.2% | Apr 30, 2024 |
| Morgan Stanley | James Faucette | $65 | $69.26 | +4.0% | Apr 12, 2024 |
| Jefferies | Surinder Thind | $85 | $74.88 | +36.0% | Jan 11, 2024 |
| Susquehanna | Analyst unavailable | $91 | $69.04 | +45.6% | Feb 3, 2023 |
| Morgan Stanley | Analyst unavailable | $60 | $70.66 | -4.0% | Feb 3, 2023 |
| UBS | Rayna Kumar | $68 | $64.06 | +8.8% | Jan 15, 2023 |
| BMO Capital | Analyst unavailable | $71 | $65.1 | +13.6% | Jan 13, 2023 |
| J.P. Morgan | Analyst unavailable | $62 | $58.23 | -0.8% | Dec 15, 2022 |
| Barclays | Ramsey El-Assal | $45 | $52.63 | -28.0% | Nov 6, 2022 |
| BMO Capital | Keith Bachman | $65 | $51.96 | +4.0% | Nov 3, 2022 |
| RBC Capital | Daniel Perlin | $66 | $51.96 | +5.6% | Nov 3, 2022 |
| BMO Capital | Keith Bachman | $65 | $60.26 | +4.0% | Nov 3, 2022 |
| RBC Capital | Daniel Perlin | $66 | $60.26 | +5.6% | Nov 3, 2022 |
| Robert W. Baird | David Koning | $66 | $60.26 | +5.6% | Nov 3, 2022 |
| UBS | Rayna Kumar | $62 | $51.96 | -0.8% | Nov 3, 2022 |
| HSBC | Yogesh Aggarwal | $79 | $68.95 | +26.4% | Aug 17, 2022 |
| RBC Capital | Daniel Perlin | $88 | $67.07 | +40.8% | Jul 28, 2022 |
| Robert W. Baird | David Koning | $84 | $69.44 | +34.4% | Jul 27, 2022 |
| Morgan Stanley | James Faucette | $75 | $69.21 | +20.0% | Jul 22, 2022 |
| Morgan Stanley | James Faucette | $90 | $84.36 | +44.0% | May 5, 2022 |
| BMO Capital | Keith Bachman | $100 | $89.17 | +59.9% | Feb 8, 2022 |
| Morgan Stanley | James Faucette | $95 | $86.94 | +52.0% | Jan 13, 2022 |
| Goldman Sachs | Brian Essex | $104 | $86.42 | +66.3% | Jan 9, 2022 |
| Susquehanna | James Friedman | $100 | $81.74 | +59.9% | Nov 19, 2021 |
| UBS | Diviya Nagarajan | $58.5 | $72.89 | -6.4% | Aug 4, 2021 |
| Societe Generale | Richard Nguyen | $92 | $73.25 | +47.2% | Jul 29, 2021 |
| Nomura | Rishit Parikh | $80 | $73.25 | +28.0% | Jul 29, 2021 |
| HSBC | Yogesh Aggarwal | $90 | $67.49 | +44.0% | Jul 22, 2021 |
Track every rating change on CTSH the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCognizant Technology Solutions Corporation functions as a global professional services firm, delivering a comprehensive suite of consulting, technology, and outsourcing solutions across North America, Europe, and other international markets. Its operations are structured into four primary divisions: Financial Services, Healthcare, Products and Resources, and Communications, Media and Technology. Within the Financial Services sector, Cognizant provides advanced services such as enhancing customer experiences, implementing robotic process automation (RPA), and leveraging analytics and artificial intelligence (AI) to address needs in areas like digital lending, fraud prevention, and modern payment systems. For its Healthcare clients, the company focuses on navigating industry shifts toward consumer-centric models, outcome-based agreements, and digital health initiatives, striving to deliver an integrated, seamless, and patient-focused omnichannel experience.…
Historical context
All CTSH earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| STM STMicroelectronics N.V. | FY2026 Q3 · Calendar Q4 2026 | -7.5% | +3.0% | STMicroelectronics sees AI and satellite demand lift Q3 outlook |
| ENTG Entegris, Inc. | FY2026 Q3 · Calendar Q4 2026 | +19.4% | +0.4% | Entegris posts record Q3 as AI demand lifts growth and margins |
| ASX ASE Technology Holding Co., Ltd. | FY2026 Q3 · Calendar Q4 2026 | +8.8% | +1.4% | ASE’s LEAP ramp drives record quarter, but capacity is tight |
Latest beats and misses
Who reports nextBeat on EPS
- OWLFY2026 Q3 · October 29, 2026+6.6% EPS+7.7% move
- CRHFY2026 Q3 · October 29, 2026+1.5% EPS+4.7% move
- AVYFY2026 Q3 · October 29, 2026+4.3% EPS+0.8% move
- TTFY2026 Q3 · October 29, 2026+2.7% EPS-3.9% move
- NCLHFY2026 Q3 · October 29, 2026+19.9% EPS+13.4% move
- THCFY2026 Q3 · October 29, 2026+41.9% EPS+0.8% move
Missed on EPS
- KYMRFY2026 Q3 · October 29, 2026-4.8% EPS+0.1% move
- DHIFY2026 Q4 · October 29, 2026-11.3% EPS+2.5% move
- BBVAFY2026 Q3 · October 29, 2026-1.6% EPS-2.2% move
- INSMFY2026 Q3 · October 29, 2026-20.2% EPS+15.1% move
- STMFY2026 Q3 · October 29, 2026-7.5% EPS+3.0% move
- SCIFY2026 Q3 · October 28, 2026-2.1% EPS-8.7% move
Get the CTSH recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-30T23:41:07.764844+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T23:41:07.761874+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-07-30. For educational purposes only; not investment advice.