COGNIZANT TECHNOLOGY SOLUTIONS CORP (CTSH)

Cognizant is a global professional services company that helps clients modernize technology, reimagine processes and transform experiences, positioning itself as an AI builder that combines industry and technology expertise to create industry-specific platforms, AI models and custom solutions. Its strategy centers on accelerating organic growth through investment in digital and AI capabilities, reskilling its technical teams, expanding local workforces in the United States and other markets, and making select acquisitions. It is also expanding a partner ecosystem that includes hyperscalers, cloud providers, enterprise software companies and start-ups.

Cognizant goes to market through four industry-based reportable segments: Health Sciences (healthcare providers and payers, and pharmaceutical, biotech and medical device companies); Financial Services (banking, capital markets, payments and insurance); Products and Resources (manufacturers, automakers, retailers, consumer goods, aerospace and defense, travel and hospitality, logistics, energy and utilities); and Communications, Media and Technology (communications, media and entertainment, education, publishing, information and professional services, and technology companies). Its services include consulting, application development, systems integration, quality engineering and assurance, application maintenance, infrastructure and security, and business process services and automation. It also develops, licenses, implements and supports proprietary and third-party software products and platforms. Offerings are organized into seven practices: Core Technologies and Insights, Enterprise Platform Services, Industry Solutions, Intuitive Operations and Automation, Software and Platform Engineering, Cognizant Moment (digital experience) and Security, the last established in 2026. It also helps clients establish and scale global capability centers (GCCs).

Clients are spread across each segment, though the volume of work for specific clients can vary significantly year to year, and the loss of one or a few significant clients in a segment could materially reduce that segment's revenues. Demand comes from clients seeking to modernize legacy technology, adopt AI, cloud and data capabilities, improve operational efficiency and respond to AI-native competitors. Services for larger clients are often critical to their operations.

Cognizant delivers through an integrated global delivery model, deploying employees at client sites and in local, regional and offshore delivery centers. At December 31, 2025, it had about 351,600 employees, including roughly 256,900 in India and 41,600 in North America. It uses subcontractors for additional capacity, though historically in immaterial numbers. It works with technology partners such as Amazon Web Services, Cisco, Google, Microsoft, Oracle, Pegasystems, Salesforce, SAP, ServiceNow and Workday. Competitors include Accenture, Atos, Capgemini, CGI, Deloitte Digital, DXC Technology, EPAM Systems, Genpact, HCL Technologies, IBM Consulting, Infosys, Tata Consultancy Services and Wipro, as well as smaller local firms and clients' in-house teams. It protects its intellectual property through patents, copyrights, trade secrets, trademarks and contractual provisions, and its operations are subject to laws on immigration, trade, taxation, data privacy and other matters.