1. Cognizant Technology (CTSH) Stock Analysis December 10, 2009 Presented by: Mark Robertson

2. Cognizant Technology (CTSH) 2 Summary (Points of View) MANIFESTValue LineS&PMorningstar Return Forecast16.0% ($43.74)8.5% ($43.93) Quality84.6B+ Financial Strength92 (No Debt)AA Growth Forecast17.7%31.5% (per sh) Profitability15.7% (Net)15.0% (Net) Valuation24.0x21.0x30x ($49.1)24.6x ($40) Overall RatingBuy (100)Buy (4-Stars)Hold (3-Stars) StockCharts RSI = 50.9 PnF Sentiment: “Bullish” (Price Objective: $31.5) CASPI = 95.6% December 10, 2009

3. Cognizant Technology (CTSH) 3 Sales Growth & 5-Year Forecast

4. Cognizant Technology (CTSH) 4 Long-Term Profitability

5. Cognizant Technology (CTSH) 5 Profitability ‘Report Card’ and Forecast … Long-Term Trend (% Net Margin) Long-Term Trend (% Net Margin)

6. Cognizant Technology (CTSH) 6 Valuation Characteristic and Trend... P/E Ratio History & Forecast

7. Cognizant Technology (CTSH) 7 Income Statement (5-Year Horizon)

8. Cognizant Technology (CTSH) 8 Technical Analysis (3-Year Profile) The relatively massive price advance during 2009 is pretty obvious on this 3-year chart. The mid-year “trepidation” with the relative strength index > 70 is also pretty clear. We can see why some would do some profit- taking under these conditions.