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12:30
Jul 29 ◎

CTSH FY2026 Q2 Watch

Cognizant Technology Solutions Corporation (CTSH) FY2026 Q2 Earnings Call

GOOGL CSCO CRWD PANW RHT ▾

Ravi Kumar

Deepens Cognizant's relationship with Google, expanding its footprint in Google's corporate engineering environment, which could lead to more joint enterprise deals.

"Astria will continue its work with Google, to deliver services across its corporate engineering environment, including global ID ops, workplace collaboration, infrastructure, and platform services."

GOOGL WATCH

Ravi Kumar

The partnership with Cisco is focused on AI-driven context engineering, potentially opening new revenue streams for Cisco in AI infrastructure and software.

"Working with Cisco, we are using context fabric to build a digital signature of the account management role, forming the foundation for an account manager's digital twin and broader identification solutions."

CSCO WATCH

Ravi Kumar

Cognizant is partnering with leading security vendors to deliver AI-driven security solutions. This validates CrowdStrike's platform as a key component in enterprise AI security transformations.

"We are positioned for this moment by combining frontier models with our 5,000 person security practice and all the leading frontier program partners including CrowdStrike, Palo Alto Networks, Gscaler, Anthropic, OpenAI, Microsoft, and Red"

CRWD WATCH PANW WATCH RHT WATCH

Ravi Kumar

Expanded partnership with Anthropic and won a strategic AI transformation project at Travelport, solidifying Anthropic's position in the enterprise AI market and driving adoption.

"We also expanded our partnership with Anthropic, becoming one of the small number of global premier partners in the cloud partner network."

ANTHROPIC WATCH

Ravi Kumar

Cognizant is leveraging OpenAI's ecosystem to build and deploy AI solutions for enterprises, highlighting OpenAI's expanding influence in the enterprise market.

"We joined OpenAI's Debe consortium. We also expanded our partnership with Anthropic"

OPENAI WATCH

Ravi Kumar

Novartis has committed to a five-year AI transformation with Cognizant, indicating a strong and ongoing investment in AI-driven operations.

"A great example of our success in this area is Novartis, which selected Cognizant earlier this year for a five-year engagement to transform its global idea operations."

NVS WATCH

Ravi Kumar

Travelport is undergoing a major AI-driven modernization, indicating a significant shift toward AI-native platforms in the travel industry.

"An example of this partnership at work is Travelport, where we partnered with Anthropic on a strategic AI transformation aimed at modernizing Travelport's software development and embedding AI across Travelport's travel, retailing, and"

TVPT WATCH

Ravi Kumar

Cognizant and Snowflake are collaborating on AI agent deployment for media clients, reinforcing Snowflake's value in AI workloads.

"And with A plus C Global Media, we partnered with Snowflake to deploy custom intelligent Agents"

SNOW WATCH

Ravi Kumar

Cognizant is leveraging Microsoft's cloud and AI capabilities (Azure, etc.) to deliver next-gen infrastructure and AI solutions to its clients.

"We signed a five-year agreement to accelerate processing times and upgrade core infrastructure. And Quotality, a global data and analytics company, has deployed Cartesian's neuro business process workflow across multiple business"

MSFT WATCH

Ravi Kumar

Financial services is growing at 12% and is leading AI adoption, with 50% of large deals being productivity-led, indicating a potential acceleration in AI-driven transformation in other verticals. — This benchmark could signal a broader enterprise AI spending cycle, potentially benefiting large IT services firms with similar capabilities.

"Financial services grew nearly 12% year-over-year in constant currency, its second consecutive quarter of 10-plus percent growth."

ACN WATCH IT WATCH INFY WATCH

Ravi Kumar

Despite macro caution and discretionary spend pressure, management expresses confidence in its AI builder strategy, seeing financial services strength as a leading indicator for future growth opportunities. They have a clear roadmap of expanding the total addressable market by embedding AI into business operations.

"While market conditions remain complex, we have continued to deliver on our commitments while investing in and evolving our business for the future."

CTSH WATCH

HIGH

12:30
Apr 29 ◎

CTSH FY2026 Q1 Watch

Cognizant Technology Solutions Corporation (CTSH) FY2026 Q1 Earnings Call

ANTHROPIC GOOGL MSFT OPENAI PLTR ▾

Ravi Kumar

Cognizant names Anthropic as a key strategic partner for its AI-driven software engineering productivity stack.

"Our differentiated approach to autonomous software is rooted in engineering-led productivity powered by leading strategic partnerships like Anthropic Cloud, Google Gemini, Microsoft GitHub, and co-pilot Devin and OpenAI Codex."

ANTHROPIC WATCH

Ravi Kumar

Cognizant partners with Google on Gemini and has launched an autonomous customer engagement offering with Google.

GOOGL WATCH

Ravi Kumar

Cognizant uses Microsoft GitHub and Copilot as part of its AI-led software engineering strategy.

MSFT WATCH

Ravi Kumar

Cognizant names OpenAI Codex as a key partnership for its AI-led software engineering capabilities.

OPENAI WATCH

Ravi Kumar

Cognizant is partnering with Palantir in a strategic partnership to advance AI-driven intelligence in healthcare operations.

"Additionally, we are building on our TriZerto product portfolio in a strategic partnership with Palantir to advance an outcomes-based intelligence platform that embeds AI-driven decisioning directly into healthcare operations."

PLTR WATCH

Ravi Kumar

Daimler Truck is a client for Cognizant's WorkNext platform for global workplace services.

"And with Daimler Truck, we will use Cognizant WorkNext to transform and modernize its global workplace services."

DTG WATCH

Jatin Dalal

Despite macro uncertainty, management maintains full-year guidance and raises operating margin guidance, signaling confidence in their AI strategy and bookings momentum.

"Our full-year revenue guidance is unchanged at 4 to 6.5% in constant currency."

CTSH WATCH

Ravi Kumar

Cognizant is planning for 'AI-infused rate cards' where pricing reflects a blended model of human and digital effort, moving toward outcome-based and tokenized pricing models. — This signals a fundamental shift in IT services pricing that could pressure traditional labor-based models and benefit firms that can effectively integrate AI agents.

"We are beginning to see the emergence of AI-infused rate cards, where pricing reflects a blended model of human effort and digital effort."

ACN WATCH INFY WATCH

Ravi Kumar

Cognizant cites the cost of mainframe code refactoring dropping from $10 to $1.50 per line due to AI, unlocking a massive legacy modernization market. — This dramatic cost reduction could accelerate mainframe exits, potentially impacting IBM's legacy maintenance revenue streams.

"Just to give you a sense, one line of mainframe code used to cost $10 to refactor to new age software, it now costs $1.50."

IBM WATCH

HIGH

13:30
Feb 04 ◎

CTSH FY2025 Q4 Watch

Cognizant Technology Solutions Corporation (CTSH) FY2025 Q4 Earnings Call

ANTHROPIC OPENAI PLTR NVDA CRM ▾

Ravi Kumar

Cognizant is leveraging Anthropic's models for client deployments, suggesting Anthropic is winning enterprise design wins through system integrators.

"With Anthropic, Google Cloud, Microsoft Azure, and OpenAI, we are using their frontier models and agentic tooling to build layers of application value to accelerate AI adoption for our clients."

ANTHROPIC WATCH

Ravi Kumar

OpenAI's enterprise reach is being extended through partnerships with companies like Cognizant, which integrate its models into enterprise workflows.

"With Anthropic, Google Cloud, Microsoft Azure, and OpenAI, we are using their frontier models and agentic tooling to build layers of application value to accelerate AI adoption for our clients."

OPENAI WATCH

Ravi Kumar

Integrating Palantir's platform into healthcare (TriZetto) opens a new significant vertical market for Palantir, indicating healthcare as a growth area for the partnership.

"With Palantir, we will integrate its foundry and artificial intelligence platform to support the integration of AI with our TriZero business."

PLTR WATCH

Ravi Kumar

Cognizant is building a practice around NVIDIA's enterprise stack, helping to monetize NVIDIA's AI infrastructure in the enterprise software market.

"On NVIDIA Stack, we are offering solutions across the full lifecycle, from building and fine-tuning models to standing up agentic applications and deploying them as microservices."

NVDA WATCH

Ravi Kumar

Deep integration with CRM and ServiceNow suggests that agentic AI is being deployed on top of these platforms, increasing their stickiness and usage.

"With Salesforce and ServiceNow, we are embedding our agentic networks directly into our clients' primary enterprise workflows."

CRM WATCH

Ravi Kumar

Grouping agentic networks into ServiceNow workflows could drive higher consumption and deeper integration with Now Platform.

"With Salesforce and ServiceNow, we are embedding our agentic networks directly into our clients' primary enterprise workflows."

NOW WATCH

Ravi Kumar

Cognizant's partnerships with major cloud providers indicate that its clients are increasing investments in their cloud and AI infrastructure.

"With Anthropic, Google Cloud, Microsoft Azure, and OpenAI, we are using their frontier models and agentic tooling to build layers of application value to accelerate AI adoption for our clients."

MSFT WATCH AMZN WATCH GOOGL WATCH

Ravi Kumar

Cognizant is seeing strong demand in healthcare for 'agentic' workflows that reduce administrative costs, with specific examples of reducing enrollment cycles from days to minutes. — This signals that healthcare payers are aggressively adopting AI to cut admin costs, which may impact their future IT budgets and operational strategies.

"Our AI intake platform reduced enrollment cycle times from as many as seven days to minutes."

UNH WATCH CVS WATCH

Ravi Kumar

The company is prioritizing hiring in India over the US (20,000 vs 2,000 campus hires), which is a leading indicator for offshoring trends across the IT services sector. — This suggests continued cost optimization in the sector, potentially weakening the US IT workforce demand, and signals a long-term cost advantage for Indian-based delivery.

"In 2026, we are targeting 2,000 campus hires in the U.S. and approximately 20,000 in India."

INFY WATCH WIT WATCH

Jatin Dalal

Productivity improvements are leading to an 8% increase in revenue per employee, demonstrating that AI adoption is directly boosting efficiency for Cognizant's own delivery, which may pressure traditional IT services pricing models. — This signals that AI-powered productivity is becoming a standard expectation in the industry, potentially compressing industry pricing and margins.

"We also saw a 5% and an 8% increase in trailing 12-month revenues and adjusted operating income per employee, respectively."

ACN WATCH

Ravi Kumar

The company won a $150 billion MSD program contract through Belcan, a major expansion into defense, signaling a strategic shift that could attract competition from larger defense IT players. — This indicates a move into defense primes' supplier ecosystem, which could see projects from Missile Defense Agency, impacting existing defense contractors' supply chains.

"With Belcan, we completed key integration milestones and continue to build a healthy synergy pipeline in the aerospace and defense industries."

LMT WATCH BA WATCH

Jatin Dalal

Management's tone is positive, with guidance above initial expectations and confidence in sustained growth, noting the mid-point is still above initial 2025 organic guidance.

"We are well positioned to sustain this growth in 2026 and confident that we can build on this momentum in the years ahead."

CTSH WATCH

HIGH

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