BI Asset Management Fondsmaeglerselskab A S Sells 66,105 Shares of Cognizant Technology Solutions Corporation $CTSH

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 64.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,184 shares of the information technology service provider’s stock after selling 66,105 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cognizant Technology Solutions were worth $3,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Physician Wealth Advisors Inc. grew its holdings in 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 valued at $28,000 after buying an additional 213 shares in the last quarter. Lodestone Wealth Management LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $28,000. Towne Trust Company N.A grew its holdings in shares of Cognizant Technology Solutions by 85.0% in the fourth quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock valued at $31,000 after purchasing an additional 170 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new position in shares of Cognizant Technology Solutions in the third quarter valued at $25,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 0.4%

Shares of NASDAQ:CTSH opened at $52.99 on Tuesday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $55.49 and a two-hundred day moving average of $68.33. The stock has a market cap of $25.11 billion, a P/E ratio of 11.52, a PEG ratio of 1.12 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 52-week low of $45.48 and a 52-week high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, research analysts expect that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions announced that its board has initiated a share repurchase plan on Monday, May 18th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to buy up to 9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.5%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.70%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wedbush upgraded Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $56.00 to $70.00 in a research report on Monday. Jefferies Financial Group decreased their price objective on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a report on Monday, May 4th. JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Citigroup lifted their target price on Cognizant Technology Solutions from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Berenberg Bank dropped their price target on Cognizant Technology Solutions from $107.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.50.

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.