TD Asset Management Inc lowered its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) by 3.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 349,242 shares of the information technology service provider’s stock after selling 14,166 shares during the quarter. TD Asset Management Inc owned about 0.07% of Cognizant Technology Solutions worth $28,987,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in CTSH. JPL Wealth Management LLC purchased a new position in Cognizant Technology Solutions in the third quarter valued at approximately $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $28,000. Flagship Harbor Advisors LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $28,000. Physician Wealth Advisors Inc. grew its position in shares of Cognizant Technology Solutions by 165.1% in the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock valued at $28,000 after buying an additional 213 shares during the last quarter. Finally, Towne Trust Company N.A raised its stake in Cognizant Technology Solutions by 85.0% during the 4th quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock worth $31,000 after acquiring an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on CTSH shares. BMO Capital Markets decreased their price objective on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. Truist Financial started coverage on Cognizant Technology Solutions in a research report on Monday, June 1st. They set a “hold” rating and a $66.00 target price on the stock. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $70.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Susquehanna dropped their price target on Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings cut Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.68.
Cognizant Technology Solutions Price Performance
Cognizant Technology Solutions stock opened at $53.21 on Monday. The stock has a market capitalization of $25.21 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.12 and a beta of 0.81. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $55.65 and a two-hundred day moving average of $68.46. Cognizant Technology Solutions Corporation has a twelve month low of $45.48 and a twelve month high of $87.03.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The company’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. As a group, research analysts expect that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.
Cognizant Technology Solutions Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. Cognizant Technology Solutions’s payout ratio is presently 28.70%.
Cognizant Technology Solutions declared that its board has initiated a stock buyback program on Monday, May 18th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management 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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