Cognizant Technology Solutions Files 2024 Annual Report

Ticker: CTSH · Form: 10-K · Filed: Feb 12, 2025 · CIK: 1058290

Cognizant Technology Solutions Corp 10-K Filing Summary
FieldDetail
CompanyCognizant Technology Solutions Corp (CTSH)
Form Type10-K
Filed DateFeb 12, 2025
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$0.01, $68.00
Sentimentneutral

Sentiment: neutral

Topics: annual-report, financials, sec-filing

TL;DR

CTSH filed its 2024 10-K, all good on reporting requirements. Check financials for deets.

AI Summary

Cognizant Technology Solutions Corporation (CTSH) filed its annual report for the fiscal year ended December 31, 2024. The company is incorporated in Delaware and headquartered in Teaneck, New Jersey. Its Class A Common Stock is traded on The Nasdaq Stock Market LLC under the symbol CTSH. The filing indicates CTSH has met all reporting requirements for the preceding 12 months and the past 90 days.

Why It Matters

This 10-K filing provides a comprehensive overview of Cognizant's financial performance and business operations for the fiscal year 2024, crucial for investors to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual report filing and does not contain immediate, specific risk-increasing information.

Key Players & Entities

  • Cognizant Technology Solutions Corporation (company) — Registrant
  • CTSH (company) — Trading Symbol
  • December 31, 2024 (date) — Fiscal Year End
  • Delaware (jurisdiction) — State of Incorporation
  • Teaneck, New Jersey (location) — Principal Executive Offices
  • The Nasdaq Stock Market LLC (company) — Exchange

FAQ

What is the commission file number for Cognizant Technology Solutions Corporation?

The commission file number for Cognizant Technology Solutions Corporation is 0-24429.

What is the par value of Cognizant's Class A Common Stock?

The par value of Cognizant's Class A Common Stock is $0.01 per share.

On which exchange is Cognizant's Class A Common Stock traded?

Cognizant's Class A Common Stock is traded on The Nasdaq Stock Market LLC.

Has Cognizant Technology Solutions Corporation filed all required reports for the preceding 12 months?

Yes, the filing indicates that Cognizant Technology Solutions Corporation has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

What is the IRS Employer Identification Number for Cognizant?

The IRS Employer Identification Number for Cognizant is 13-3728359.

Filing Stats: 4,249 words · 17 min read · ~14 pages · Grade level 19.4 · Accepted 2025-02-12 16:46:32

Key Financial Figures

  • $0.01 — hich registered Class A Common Stock, $0.01 par value per share CTSH The Nasdaq Sto
  • $68.00 — e registrant on June 30, 2024, based on $68.00 per share, the last reported sale price

Filing Documents

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS 3 PART I 5 1. Business 5 1A. Risk Factors 14 1B. Unresolved Staff Comments 24 1C. Cybersecurity 24 2. Properties 25 3. Legal Proceedings 25 4. Mine Safety Disclosures 25 PART II 26 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 6. [Reserved] 27 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 28 7A. Quantitative and Qualitative Disclosures About Market Risk 39 8. Financial Statements and Supplementary Data 40 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 40 9A. Controls and Procedures 40 9B. Other Information 41 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 41 PART III 42 10. Directors, Executive Officers and Corporate Governance 42 11. Executive Compensation 42 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 42 13. Certain Relationships and Related Transactions, and Director Independence 42 14. Principal Accountant Fees and Services 42 PART IV 43 15. Exhibits, Financial Statements Schedules 43 16. Form 10-K Summary 46

SIGNATURES

SIGNATURES 47 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULE F-1 GLOSSARY Defined Term Definition 10b5-1 Plan Trading plan adopted pursuant to Rule 10b5-1 under the Exchange Act 2009 Incentive Plan Cognizant Technology Solutions Corporation Amended and Restated 2009 Incentive Compensation Plan 2017 Incentive Plan Cognizant Technology Solutions Corporation 2017 Incentive Award Plan 2023 Incentive Plan Cognizant Technology Solutions Corporation 2023 Incentive Award Plan Adjusted Diluted EPS Adjusted diluted earnings per share AI Artificial Intelligence APA Advance Pricing Agreement ASC Accounting Standards Codification CC Constant Currency CE Continental Europe CEO Chief Executive Officer CFO Chief Financial Officer CIO Chief Information Officer CITA Commissioner of Income Tax (Appeals) in India CMT Communications, Media and Technology CODM Chief Operating Decision Maker CPI Consumer Price Index Credit Agreement Credit agreement with a commercial bank syndicate dated April 18, 2024, as amended CSO Chief Security Officer CTS India Our principal operating subsidiary in India DevOps Agile relationship between development and IT operations DOJ United States Department of Justice DSO Days Sales Outstanding DTSA Defend Trade Secrets Act EPS Earnings Per Share ESG Environmental, social and corporate governance EU European Union EU AI Act European Union Artificial Intelligence Act EVP Executive Vice President Exchange Act Securities Exchange Act of 1934, as amended FCPA Foreign Corrupt Practices Act FS Financial Services GAAP Generally Accepted Accounting Principles in the United States of America GCCs Global Capability Centers GenAI Generative Artificial Intelligence High Court Madras, India High Court HR Human Resources HS Health Sciences India Defined Contribution Obligation Certain statutory defined contribution obligations of employees and employers in India IP Intell

Forward Looking Statements

Forward Looking Statements The statements contained in this Annual Report on Form 10-K that are not historical facts are forward-looking statements (within the meaning of Section 21E of the Exchange Act) that involve risks and uncertainties. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believe," "expect," "may," "could," "would," "plan," "intend," "estimate," "predict," "potential," "continue," "should" or "anticipate" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. From time to time, we or our representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in various filings made by us with the SEC, in press releases or in oral statements made by or with the approval of one of our authorized executive officers. These forwar d-looking statements, such as statements regarding our anticipated future revenues, operating margin, earnings, capital expenditures, impacts to our business, financial results and financial condition as a result of the competitive marketplace for talent and future attrition trends, anticipated effective income tax rate and income tax expense, liquidity, financing strategy, access to capital, capital return strategy, investment strategies, cost management, plans and objectives, investment in our business, potential acquisitions, industry trends, client behaviors and trends, the outcome of and costs associated with regulatory and litigation matters, the appropriateness of the accrual related to the India Defined Contribution Obligation, matters related to the Belcan acquisition and other statements regarding matters that are not historical facts, are based on our current expectations, estimates and projections, management's beliefs and certain assumptions made by management, many of which, by their n

Business

Item 1. Business Overview Cognizant is one of the world's leading professional services companies, engineering modern businesses and delivering strategic outcomes for our clients. We help clients modernize technology, reimagine processes and transform experiences so they can stay ahead in today's fast-changing world, where AI is beginning to reshape organizations in every field. We provide industry expertise and close client collaboration, combining critical perspective with a flexible engagement style. We tailor our services and solutions to specific industries with an integrated global delivery model that employs client service and delivery teams based at client locations and dedicated global and regional delivery centers. Our collaborative services include digital services and solutions, consulting, application development, systems integration, quality engineering and assurance, engineering research and development, application maintenance, infrastructure and security as well as business process services and automation. Digital, AI-enhanced services continue to be an important part of our portfolio, aligning with our clients' focus on becoming data-enabled, customer-centric and differentiated businesses. Our purpose, vision and values are central to Cognizant's strategic approach. We have evolved our values to prioritize those that support our vision and enhance our ability to innovate and co-create with our clients. In order to achieve this vision and support our clients, we are focusing on accelerating growth, becoming an employer of choice and simplifying our operations through modernization and an AI-enabled IT roadmap. In executing our strategy, we seek to drive organic growth through investments in our digital and AI capabilities across industries and geographies, including the extensive training and reskilling of our technical teams and the expansion of our local workforces in the United States and other markets around the world. Additionally, we purs

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