Cognizant (CTSH) has retained its guidance of -1 to +1% (-2 to 0% organic) YoY CC growth for CY23, guided for ~0.6% QoQ USD growth in Q3CY23, implying a decline of 1.65% QoQ USD in Q4CY23. Though it reported strong bookings growth of 17% YoY in Q2CY23 driven by large deal wins, there is uncertainty around the timing of ramp up of these large deals.