BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in Cognizant Technology Solutions Corporation $CTSH

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 334.6% in the first quarter, HoldingsChannel reports. The fund owned 161,595 shares of the information technology service provider’s stock after acquiring an additional 124,411 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cognizant Technology Solutions were worth $9,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in Cognizant Technology Solutions by 8.6% during the third quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock valued at $840,669,000 after purchasing an additional 987,395 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Cognizant Technology Solutions by 7.6% in the third quarter. First Trust Advisors LP now owns 9,085,998 shares of the information technology service provider’s stock worth $609,398,000 after purchasing an additional 639,801 shares in the last quarter. Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $690,959,000. GQG Partners LLC bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $673,651,000. Finally, FIL Ltd lifted its stake in shares of Cognizant Technology Solutions by 46.6% during the 4th quarter. FIL Ltd now owns 6,680,508 shares of the information technology service provider’s stock valued at $554,482,000 after buying an additional 2,122,600 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

CTSH opened at $43.70 on Monday. The company has a market capitalization of $20.71 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 0.92 and a beta of 0.81. The firm has a 50-day simple moving average of $53.35 and a two-hundred day simple moving average of $66.67. 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 Corporation has a 52 week low of $43.40 and a 52 week high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. The firm had revenue of $5.41 billion for 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 business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its board has authorized a share repurchase plan on Monday, May 18th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to purchase up to 9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were paid 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 3.0%. Cognizant Technology Solutions’s payout ratio is presently 28.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTSH. TD Cowen reiterated a “hold” rating and issued a $62.00 price target (down from $71.00) on shares of Cognizant Technology Solutions in a research note on Thursday, April 30th. Wedbush upgraded Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $56.00 to $70.00 in a research report on Monday, June 8th. Susquehanna dropped their price objective on Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a research note on Friday, May 1st. Guggenheim cut their target price 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. Finally, Dbs Bank lowered their price target on Cognizant Technology Solutions from $80.00 to $66.00 in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $72.50.

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.