Kingsview Wealth Management LLC cut its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,727 shares of the information technology service provider’s stock after selling 20,728 shares during the period. Kingsview Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $8,775,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AustralianSuper Pty Ltd bought a new stake in shares of Cognizant Technology Solutions during the third quarter valued at approximately $4,422,000. Alps Advisors Inc. boosted its position in shares of Cognizant Technology Solutions by 16.5% during the third quarter. Alps Advisors Inc. now owns 306,078 shares of the information technology service provider’s stock worth $20,529,000 after acquiring an additional 43,252 shares during the last quarter. Arjuna Capital grew its stake in Cognizant Technology Solutions by 62.6% during the third quarter. Arjuna Capital now owns 24,622 shares of the information technology service provider’s stock valued at $1,651,000 after acquiring an additional 9,482 shares in the last quarter. National Pension Service increased its holdings in Cognizant Technology Solutions by 5.5% in the 3rd quarter. National Pension Service now owns 863,720 shares of the information technology service provider’s stock valued at $57,930,000 after acquiring an additional 45,016 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Cognizant Technology Solutions by 11.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 193,464 shares of the information technology service provider’s stock worth $12,976,000 after purchasing an additional 19,177 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CTSH. BMO Capital Markets decreased their target price on Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. TD Cowen reaffirmed a “hold” rating and issued a $62.00 price objective (down from $71.00) on shares of Cognizant Technology Solutions in a research note on Thursday, April 30th. HSBC decreased their price objective on Cognizant Technology Solutions from $98.00 to $80.00 in a report on Thursday, April 30th. Wells Fargo & Company lowered their target price on Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Jefferies Financial Group reduced their price target on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.00.
Cognizant Technology Solutions Trading Up 1.3%
CTSH opened at $53.85 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23. The stock’s 50 day moving average price is $56.40 and its 200-day moving average price is $69.23. Cognizant Technology Solutions Corporation has a one year low of $45.48 and a one year high of $87.03. The stock has a market cap of $25.52 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.12 and a beta of 0.81.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period last year, the company earned $1.23 EPS. Cognizant Technology Solutions’s quarterly revenue was up 5.8% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, equities analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.
Cognizant Technology Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.70%.
Cognizant Technology Solutions declared that its board has approved a stock buyback program on Monday, May 18th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to reacquire up to 9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.
Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.
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