Bank of New York Mellon Corp Reduces Position in Cognizant Technology Solutions Corporation $CTSH

Bank of New York Mellon Corp decreased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 9.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,633,544 shares of the information technology service provider’s stock after selling 775,871 shares during the period. Bank of New York Mellon Corp owned 1.60% of Cognizant Technology Solutions worth $468,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTSH. Flagship Harbor Advisors LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $28,000. Physician Wealth Advisors Inc. increased its holdings in shares of Cognizant Technology Solutions by 165.1% in the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock valued at $28,000 after acquiring an additional 213 shares during the period. Lodestone Wealth Management LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at $28,000. Prosperity Bancshares Inc purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at $29,000. Finally, Towne Trust Company N.A boosted its stake in Cognizant Technology Solutions by 85.0% during the 4th quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock worth $31,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on CTSH shares. Robert W. Baird lowered their price objective on shares of Cognizant Technology Solutions from $72.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Wedbush raised shares of Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and upped their target price for the company from $56.00 to $70.00 in a report on Monday, June 8th. UBS Group decreased their target price on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Finally, BMO Capital Markets dropped their price target on Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.26.

Cognizant Technology Solutions Trading Up 3.2%

Shares of Cognizant Technology Solutions stock opened at $44.56 on Friday. The firm has a market cap of $21.12 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-week high of $87.03. The company’s 50-day simple moving average is $47.60 and its 200-day simple moving average is $61.16. 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 announced its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions declared that its Board of Directors has authorized a share buyback program 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 buy up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.70%.

About Cognizant Technology Solutions

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.