Cognizant falls after weak revenue forecast

Cognizant Technology Solutions

29/04/2026 16:21

Updates

** IT consulting firm Cognizant's CTSH.O shares dip 1.7% to $54.22 after co forecasts Q2 revenue below estimates, citing cautious IT spending by clients amid macroeconomic uncertainty

** Co expects Q2 revenue between $5.45 bln and $5.52 bln, below analysts' average estimate of $5.56 bln - LSEG data

** Also trims its full-year revenue forecast

** CTSH announces "Project Leap," an initiative to accelerate its AI shift and save $200 mln to $300 mln by 2026, but will incur restructuring charges of up to $320 mln

** 14 of 31 analysts rate CTSH "buy", 17 "hold"; median PT is $83 - LSEG data

** Including session's moves, stock down about 34.7% YTD vs 4.1% rise in S&P 500 .SPX

 (Reporting by Ragini Mathur in Bengaluru)

 ((Ragini.Mathur@thomsonreuters.com;))