Cognizant Technology Solutions Corporation
CTSH 6.5Price and target zones价格与目标区间
Near the buy zone接近买入区间
What the company does公司做什么
Cognizant is an IT-services company. Companies hire it to build and maintain their software and run their back office, using large teams based mostly in India and other lower-cost countries. About a third of its work is for healthcare.Cognizant是一家IT服务公司。企业雇用它来搭建和维护自己的软件、运行后台业务，主要靠一支大部分位于印度和其他低成本国家的团队。它约三分之一的工作是为医疗行业做的。
Earns from营收来源 multi-year contracts for software work and business-process operation, billed largely by headcount.软件工作和业务流程运营的多年期合同，收费主要按人头计。
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Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Health Sciences; Products and Resources; and Communications, Media and Technology. The company provides services including artificial intelligence (AI) and other technology services and solutions, consulting, application development, systems integration, quality engineering and assurance, engineering research and development, application maintenance, infrastructure, security, and business process services and automation. It also offers AI-led automation, which includes advisory, and process and IT automation solutions designed to simplify and accelerate automation adoption; business process outsourcing services, which help deliver business outcomes including revenue growth, increased customer and employee satisfaction, and cost savings; and Cognizant Moment, a digital experience service that uses AI to reimagine customer experiences and engineer strategies aimed at driving growth. In addition, the company develops, licenses, implements, and supports proprietary and third-party software products and platforms; and develops industry-specific products and services. It offers solution to healthcare providers and payers, life sciences companies, banking, capital markets, payments and insurance companies, manufacturers, automakers, retailers, consumer goods, travel and hospitality, communications, media and entertainment, education, information services, and technology companies, as well as businesses providing logistics, energy, and utility services. The company has a strategic partnership with Uniphore Technologies Inc. for the development of AI solutions that combine small language models and AI agents. Cognizant Technology Solutions Corporation was incorporated in 1988 and is headquartered in Teaneck, New Jersey.
What the company sells公司卖什么
Plus:此外： Health Sciences健康科学 (30%) — Technology work for health insurers and drug companies. FY2025 revenue was $6.3 billion. Includes its own software, TriZetto, which US health insurers use to process claims为医疗保险公司和药企做的技术工作。2025财年收入为$6.3 billion。包括其自有软件 TriZetto，美国医疗保险公司用它来处理理赔; Financial Services金融服务 (29%) — Software and operations work for banks and insurers. FY2025 revenue was $6.2 billion为银行和保险公司做的软件和运营工作。2025财年收入为$6.2 billion; Products and Resources产品与资源 (25%) — Manufacturing, retail, energy, and travel clients. FY2025 revenue was $5.3 billion制造业、零售、能源和旅游行业的客户。2025财年收入为$5.3 billion; Communications, Media and Technology通信、媒体与科技 (16%) — Telecom and technology clients. FY2025 revenue was $3.3 billion电信和科技行业的客户。2025财年收入为$3.3 billion.
Company facts公司资料
- Founded成立时间
- 1988
- Headquarters总部
- Teaneck, New Jersey
- Employees员工人数
- 356,700
- Industry行业
- Information Technology Services
- Country国家
- United States
Investment thesis投资逻辑 from the watchlist来自关注列表
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- Earnings 7/29. 8.1x fwd, 2.81% yield (~2x 5yr avg), 12.7% FCF yield, near-zero debt, $2B buyback. Down on sector-wide AI-disruption repricing — but GM −220bps and ROIC −340bps over 3yrs confirm real moat erosion; Project Leap cutting 12-15k jobs. FV $45-60 (Graham ~$57). Ran +17% out of zone on reassessment, not a fix. Add $35-38 on weakness
👀 ⚠️ 7/29 财报。 8.1x 前瞻，2.81% 股息率（~2x 5 年均值），12.7% 自由现金流收益率，近乎零负债，$2B 回购。因全行业 AI-颠覆重新定价而下跌——但 3 年内毛利率 −220bps、ROIC −340bps 证实护城河确有侵蚀；Project Leap 裁员 12-15k 人。FV $45-60（格雷厄姆 ~$57）。因重新评估而非基本面改善上涨 +17% 脱离区间。逢弱加仓 $35-38。
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Return on equity净资产收益率
- 15%
- Revenue growth营收增长
- +4%
- Dividend yield股息率
- 2.38%
Competitors竞争对手
Why customers stay客户为什么留下
Owning TriZetto is the real strength — that software is embedded in US health insurers and creates a switching cost beyond pure labour. But the weakness is significant: Cognizant is about a third of Accenture's size, more dependent on low-cost labour, and much of its work is the repetitive kind that AI can automate.拥有TriZetto才是真正的强项——那套软件嵌在美国的医疗保险公司里，形成了超越单纯人力的转换成本。但弱点很明显：Cognizant大约只有Accenture的三分之一大，更依赖低成本人力，而且它很多工作属于AI能够自动化的那种重复性工作。
Related companies相关公司 🔴 AI-services repricing
One bet: does AI destroy labor-arbitrage IT services? They rise and fall together — proven twice now (−40% together, then +17-22% together).
Manage as one position. Do not add a second name to raise exposure.
Recent news近期新闻 last 7 days近7天
- Is Wall Street Bullish or Bearish on Cognizant Stock?Barchart
- Morgan Stanley Just Upped Its Price Target on Cognizant Stock. Here's Why.Barchart
- Does Cognizant (CTSH) Turning AI Deals And Dividends Into A Durable Competitive Edge?Simply Wall St.
- Cognizant Technology Solutions (CTSH) Following Results And Guidance Faces An Undervalued NarrativeSimply Wall St.
- Cognizant Q2 Earnings Miss Estimates, Revenues Beat, Rise Y/YZacks
- Cognizant Q2 Earnings Call Focuses on AI Builder ShiftZacks