Assenagon Asset Management S.A. Has $21.85 Million Stock Position in Cognizant Technology Solutions Corporation $CTSH

Assenagon Asset Management S.A. lowered its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 81.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 356,153 shares of the information technology service provider’s stock after selling 1,575,587 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cognizant Technology Solutions were worth $21,850,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in Cognizant Technology Solutions by 8.6% in the 3rd quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock valued at $840,669,000 after acquiring an additional 987,395 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Cognizant Technology Solutions by 7.6% in the 3rd quarter. First Trust Advisors LP now owns 9,085,998 shares of the information technology service provider’s stock valued at $609,398,000 after purchasing an additional 639,801 shares during the period. Norges Bank acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $690,959,000. GQG Partners LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $673,651,000. Finally, FIL Ltd lifted its position 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 worth $554,482,000 after buying an additional 2,122,600 shares during the period. 92.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings cut Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Guggenheim dropped their target price on shares of 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. BMO Capital Markets cut their price target on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. UBS Group reduced their price target on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a research report on Monday, May 11th. Finally, Evercore decreased their price objective on shares of Cognizant Technology Solutions from $100.00 to $70.00 in a research note on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.70.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $40.03 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $18.97 billion, a P/E ratio of 8.70, a PEG ratio of 0.82 and a beta of 0.81. The business has a 50-day moving average of $51.46 and a 200-day moving average of $65.41. Cognizant Technology Solutions Corporation has a 1 year low of $38.97 and a 1 year high of $87.03.

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

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.70%.

Cognizant Technology Solutions declared that its Board of Directors has authorized a share buyback 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 usually an indication that the company’s board believes its stock is 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.