Arrowstreet Capital Limited Partnership Acquires 734,337 Shares of Cognizant Technology Solutions Corporation $CTSH

Arrowstreet Capital Limited Partnership grew its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,874,274 shares of the information technology service provider’s stock after purchasing an additional 734,337 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Cognizant Technology Solutions were worth $238,565,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Atlas Capital Advisors Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $1,054,000. Aptus Capital Advisors LLC raised its position in shares of Cognizant Technology Solutions by 48.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 4,521 shares of the information technology service provider’s stock valued at $375,000 after acquiring an additional 1,466 shares during the period. Jacobi Capital Management LLC raised its position in shares of Cognizant Technology Solutions by 7.8% in the 4th quarter. Jacobi Capital Management LLC now owns 8,483 shares of the information technology service provider’s stock valued at $704,000 after acquiring an additional 612 shares during the period. FORA Capital LLC raised its position in shares of Cognizant Technology Solutions by 282.4% in the 4th quarter. FORA Capital LLC now owns 14,884 shares of the information technology service provider’s stock valued at $1,235,000 after acquiring an additional 10,992 shares during the period. Finally, Transamerica Financial Advisors LLC raised its position in shares of Cognizant Technology Solutions by 13.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 2,898 shares of the information technology service provider’s stock valued at $241,000 after acquiring an additional 351 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $52.17 on Monday. 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 12-month low of $45.48 and a 12-month high of $87.03. The company has a market capitalization of $24.72 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.10 and a beta of 0.81. The firm’s 50 day moving average is $54.79 and its 200-day moving average is $67.71.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (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 company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same period last year, the company 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. Equities research 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 has authorized a stock repurchase plan 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 repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors 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 annualized dividend and a dividend yield of 2.5%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets cut their price target on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. HSBC cut their price target on shares of Cognizant Technology Solutions from $98.00 to $80.00 in a research note on Thursday, April 30th. UBS Group cut their price target on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. Jefferies Financial Group cut their price target on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.50.

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.