Foster & Motley Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 63,576 shares of the information technology service provider’s stock, valued at approximately $2,462,000.
A number of other institutional investors also recently bought and sold shares of CTSH. Physician Wealth Advisors Inc. increased its holdings in shares of Cognizant Technology Solutions by 165.1% during the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock worth $28,000 after buying an additional 213 shares during the last quarter. Prosperity Bancshares Inc acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC acquired a new position in Cognizant Technology Solutions in the third quarter valued at approximately $25,000. Reflection Asset Management purchased a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $40,000. Finally, MV Capital Management Inc. acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth $42,000. 92.44% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Evercore reduced their target price on Cognizant Technology Solutions from $100.00 to $70.00 in a research report on Thursday, April 30th. Susquehanna set a $82.00 price objective on Cognizant Technology Solutions and gave the stock a “positive” rating in a research report on Thursday, July 30th. TD Cowen boosted their price objective on shares of Cognizant Technology Solutions from $47.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, July 30th. BMO Capital Markets decreased their target price on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cognizant Technology Solutions in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus target price of $63.00.
Cognizant Technology Solutions Stock Up 2.1%
Cognizant Technology Solutions stock opened at $57.78 on Wednesday. The firm has a market capitalization of $26.03 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.18 and a beta of 0.81. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. Cognizant Technology Solutions Corporation has a twelve month low of $37.08 and a twelve month high of $87.03. The stock’s fifty day simple moving average is $48.09 and its 200-day simple moving average is $56.08.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The company had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter last year, the business posted $1.31 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, equities analysts expect that Cognizant Technology Solutions Corporation will post 5.71 earnings per share for the current fiscal year.
Cognizant Technology Solutions Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, August 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.39%.
Cognizant Technology Solutions announced that its board has authorized a share buyback program on Monday, May 18th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to purchase up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Cognizant Technology Solutions 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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