$CTSH — HOLD 📊 | 6 MONTHS THESIS

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationa 🎯 FQ2 FY2026 (ends Jun) | reported Jul 29 | Rev $5.5B | GAAP EPS $1.37 vs $1.38 🔴 | GAAP op margin 15.9% 💡 The market is pricing in AI-driven deflation and stalled discretionary demand, reinforced by the June Accenture guidance cut and Berenberg downgrade. However, Q2 evidence showed only a modest full-year guidance trim, not a collapse: 4.1% CC growth, stable-to-rising margins, and +5% bookings. 🏢 Business Quality: 6/10 📊 Valuation: At $56.61, market cap is about $26.7B; Q2 FY2026 net income of $636M annualizes to a ~10.5x P/E; price/sales is about 1.2x on annualized revenue of... 🔮 Catalyst: Q3 FY2026 (ends Sep 2026) earnings report likely late Oct / early Nov 2026. Watch for organic constant-currency growth staying above ~4%, bookings >$28B with continued large-deal conversion, any FY2026 guidance re

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationa