National Pension Service Purchases 187,187 Shares of Cognizant Technology Solutions Corporation $CTSH

by · The Markets Daily

National Pension Service boosted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH – Free Report) by 17.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,275,592 shares of the information technology service provider’s stock after acquiring an additional 187,187 shares during the period. National Pension Service’s holdings in Cognizant Technology Solutions were worth $49,404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Evolve Private Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $2,642,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Cognizant Technology Solutions in the first quarter valued at $29,510,000. Ancora Advisors LLC bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at $2,929,000. Pzena Investment Management LLC lifted its holdings in Cognizant Technology Solutions by 14.9% during the 1st quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock worth $1,243,096,000 after purchasing an additional 2,633,683 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Cognizant Technology Solutions by 34.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,874,274 shares of the information technology service provider’s stock worth $238,565,000 after purchasing an additional 734,337 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTSH shares. Susquehanna set a $82.00 target price on Cognizant Technology Solutions and gave the company a “positive” rating in a report on Thursday, July 30th. Robert W. Baird set a $68.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. Citigroup restated a “neutral” rating and issued a $60.00 price objective (up from $45.00) on shares of Cognizant Technology Solutions in a research report on Thursday, July 30th. Mizuho set a $64.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, August 6th. Finally, Daiwa Securities Group lowered their target price on shares of Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.00.

Get Our Latest Research Report on CTSH

Cognizant Technology Solutions Stock Up 2.9%

Shares of NASDAQ CTSH opened at $60.00 on Friday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average of $54.42 and a 200-day moving average of $54.87. The firm has a market capitalization of $27.03 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.12 and a beta of 0.83. Cognizant Technology Solutions Corporation has a 12 month low of $37.08 and a 12 month high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last announced its earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share 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 period in the prior year, the business earned $1.31 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. Sell-side analysts expect that Cognizant Technology Solutions Corporation will post 5.74 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 18th. Cognizant Technology Solutions’s payout ratio is currently 28.39%.

Cognizant Technology Solutions declared that its Board of Directors has approved a stock repurchase plan 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 repurchase up to 9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Cognizant Technology Solutions Profile

(Free Report)

Cognizant Technology Solutions Corporation is a professional services and information technology company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company provides consulting, systems integration, application development and maintenance, and business process services to clients across industries.

Its offerings include cloud enablement, software engineering, data and analytics, artificial intelligence, cybersecurity, automation and digital workplace solutions.

Further Reading

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