Polar Capital Holdings Plc bought a new stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 482,096 shares of the information technology service provider’s stock, valued at approximately $40,014,000.
Several other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at $690,959,000. GQG Partners LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $673,651,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $201,834,000. Cibc World Markets Corp purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $234,671,000. Finally, Voloridge Investment Management LLC lifted its position in shares of Cognizant Technology Solutions by 801.4% during the third quarter. Voloridge Investment Management LLC now owns 2,104,276 shares of the information technology service provider’s stock valued at $141,134,000 after purchasing an additional 1,870,834 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Robert W. Baird set a $72.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “neutral” rating in a research report on Friday, April 10th. BMO Capital Markets dropped their target price on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. Jefferies Financial Group cut their target price on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. UBS Group reduced their target price on Cognizant Technology Solutions from $60.00 to $55.00 in a report on Monday, May 11th. Finally, Guggenheim decreased their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.50.
Cognizant Technology Solutions Stock Up 0.5%
CTSH opened at $51.05 on Wednesday. Cognizant Technology Solutions Corporation has a twelve month low of $45.48 and a twelve month high of $87.03. The company’s 50-day moving average price is $54.32 and its two-hundred day moving average price is $67.35. The stock has a market cap of $24.19 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.07 and a beta of 0.81. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. Cognizant Technology Solutions’s revenue was up 5.8% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities 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 declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.70%.
Cognizant Technology Solutions announced that its Board of Directors has initiated a share buyback plan on Monday, May 18th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board 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.
Read More
- Five stocks we like better than Cognizant Technology Solutions
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report).
Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.
