Intech Investment Management LLC reduced its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) by 46.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,853 shares of the information technology service provider’s stock after selling 9,603 shares during the quarter. Intech Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $901,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CTSH. CIBC Bancorp USA Inc. bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth $201,834,000. Voloridge Investment Management LLC lifted its position in shares of Cognizant Technology Solutions by 801.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 2,104,276 shares of the information technology service provider’s stock worth $141,134,000 after buying an additional 1,870,834 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Cognizant Technology Solutions by 144.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,631,890 shares of the information technology service provider’s stock worth $176,521,000 after buying an additional 1,554,648 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $84,574,000. Finally, Invesco Ltd. lifted its position in shares of Cognizant Technology Solutions by 8.6% during the 3rd quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock worth $840,669,000 after buying an additional 987,395 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
CTSH has been the subject of several recent analyst reports. Susquehanna dropped their price objective on Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a research report on Friday, May 1st. Morgan Stanley dropped their price objective 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. Citigroup dropped their price objective on Cognizant Technology Solutions from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Wedbush dropped their price objective on Cognizant Technology Solutions from $61.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group set a $75.00 price objective on Cognizant Technology Solutions in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.68.
Cognizant Technology Solutions Price Performance
Cognizant Technology Solutions stock opened at $53.21 on Monday. 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 company has a market capitalization of $25.21 billion, a PE ratio of 11.57, a P/E/G ratio of 1.12 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 12 month low of $45.48 and a 12 month high of $87.03. The stock has a 50-day moving average price of $55.65 and a two-hundred day moving average price of $68.46.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Analysts expect that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.
Cognizant Technology Solutions announced that its board has approved a stock repurchase program on Monday, May 18th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Cognizant Technology Solutions Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were paid 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 dividend payout ratio is presently 28.70%.
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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