IFM Investors Pty Ltd Reduces Stake in Cognizant Technology Solutions Corporation $CTSH

IFM Investors Pty Ltd decreased its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 13.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,791 shares of the information technology service provider’s stock after selling 12,355 shares during the period. IFM Investors Pty Ltd’s holdings in Cognizant Technology Solutions were worth $4,957,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CTSH. iA Global Asset Management Inc. grew its holdings in Cognizant Technology Solutions by 78.4% in the 1st quarter. iA Global Asset Management Inc. now owns 107,102 shares of the information technology service provider’s stock valued at $6,571,000 after buying an additional 47,054 shares during the period. Impact Partnership Wealth LLC purchased a new stake in Cognizant Technology Solutions in the first quarter valued at approximately $1,320,000. MQS Management LLC purchased a new stake in Cognizant Technology Solutions in the first quarter valued at approximately $615,000. Premier Path Wealth Partners LLC increased its position in Cognizant Technology Solutions by 158.8% during the first quarter. Premier Path Wealth Partners LLC now owns 8,885 shares of the information technology service provider’s stock worth $545,000 after purchasing an additional 5,452 shares during the last quarter. Finally, Caliber Wealth Management LLC KS increased its position in Cognizant Technology Solutions by 24.9% during the first quarter. Caliber Wealth Management LLC KS now owns 3,647 shares of the information technology service provider’s stock worth $224,000 after purchasing an additional 726 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CTSH. UBS Group dropped their price target on Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. Truist Financial began coverage on shares of Cognizant Technology Solutions in a report on Monday, June 1st. They set a “hold” rating and a $66.00 price target for the company. Daiwa Securities Group cut their price objective on shares of Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, June 24th. BMO Capital Markets lowered their target price on Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. Finally, Dbs Bank dropped their target price on Cognizant Technology Solutions from $80.00 to $66.00 in a research report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.35.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $41.99 on Friday. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-week high of $87.03. The firm has a market capitalization of $19.90 billion, a PE ratio of 9.13, a P/E/G ratio of 0.88 and a beta of 0.87. The firm has a 50-day moving average price of $49.48 and a 200 day moving average price of $63.94. 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 (NASDAQ:CTSH) last released its 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 firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, sell-side analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has approved a stock repurchase program on Monday, May 18th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology service provider to purchase up to 9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors 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. Stockholders of record on Monday, May 18th were issued a $0.33 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 3.1%. Cognizant Technology Solutions’s dividend payout ratio is 28.70%.

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.