Allianz Asset Management GmbH Has $130.79 Million Stake in Cognizant Technology Solutions Corporation $CTSH

Allianz Asset Management GmbH decreased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 11.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,575,728 shares of the information technology service provider’s stock after selling 197,445 shares during the period. Allianz Asset Management GmbH’s holdings in Cognizant Technology Solutions were worth $130,785,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at about $28,000. Physician Wealth Advisors Inc. lifted its stake in Cognizant Technology Solutions by 165.1% in the fourth 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 during the period. Lodestone Wealth Management LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at about $28,000. Towne Trust Company N.A lifted its stake in 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 buying an additional 170 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth about $25,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTSH. Truist Financial began coverage on Cognizant Technology Solutions in a research report on Monday, June 1st. They set a “hold” rating and a $66.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Mizuho dropped their price target on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. TD Cowen reaffirmed a “hold” rating and set a $62.00 price target (down from $71.00) on shares of Cognizant Technology Solutions in a research report on Thursday, April 30th. Finally, Robert W. Baird set a $72.00 price target on Cognizant Technology Solutions and gave the stock a “neutral” rating in a research report on Friday, April 10th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.50.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $51.81 on Thursday. The company has a market capitalization of $24.55 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.11 and a beta of 0.81. The stock has a 50 day moving average of $55.17 and a 200-day moving average of $68.05. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 12 month low of $45.48 and a 12 month 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 the consensus estimate 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 firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities research analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were given a dividend of $0.33 per share. The ex-dividend date was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.5%. Cognizant Technology Solutions’s payout ratio is currently 28.70%.

Cognizant Technology Solutions declared that its Board of Directors has initiated a stock repurchase program on Monday, May 18th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to buy up to 9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

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.