Cognizant Technology Solutions Corporation $CTSH Shares Acquired by Allstate Corp

Allstate Corp increased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 103.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,190 shares of the information technology service provider’s stock after purchasing an additional 19,382 shares during the quarter. Allstate Corp’s holdings in Cognizant Technology Solutions were worth $3,170,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CIBC Bancorp USA Inc. bought a new stake in Cognizant Technology Solutions in the third quarter worth about $201,834,000. Voloridge Investment Management LLC raised its position in Cognizant Technology Solutions by 801.4% in the third quarter. Voloridge Investment Management LLC now owns 2,104,276 shares of the information technology service provider’s stock worth $141,134,000 after acquiring an additional 1,870,834 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Cognizant Technology Solutions by 144.3% in the third 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 acquiring an additional 1,554,648 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in Cognizant Technology Solutions in the fourth quarter worth about $84,574,000. Finally, Invesco Ltd. raised its position in Cognizant Technology Solutions by 8.6% in the third quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock worth $840,669,000 after acquiring an additional 987,395 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $53.16 on Thursday. Cognizant Technology Solutions Corporation has a one year low of $45.48 and a one year high of $87.03. The company has a 50-day moving average of $56.55 and a two-hundred day moving average of $69.37. The stock has a market cap of $25.19 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its 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 net margin of 10.41% and a return on equity of 17.50%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same period last year, the company posted $1.23 earnings per share. The business’s revenue for the quarter 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. On average, equities research analysts expect that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions declared that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s payout ratio is 28.70%.

Analyst Ratings Changes

Several brokerages have commented on CTSH. Royal Bank Of Canada boosted their price target on shares of Cognizant Technology Solutions from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Evercore cut their price objective on Cognizant Technology Solutions from $100.00 to $70.00 in a report on Thursday, April 30th. Guggenheim reduced their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. The Goldman Sachs Group set a $75.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, April 29th. Finally, Weiss Ratings cut shares of Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.00.

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.