22,841 Shares in Cognizant Technology Solutions Corporation $CTSH Bought by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC bought a new stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,841 shares of the information technology service provider’s stock, valued at approximately $1,376,000.

Several other hedge funds have also bought and sold shares of CTSH. Invesco Ltd. grew its stake in shares of Cognizant Technology Solutions by 8.6% during 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 during the period. First Trust Advisors LP increased its holdings in 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 worth $609,398,000 after acquiring an additional 639,801 shares in the last quarter. Norges Bank bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $690,959,000. GQG Partners LLC bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $673,651,000. Finally, FIL Ltd lifted its holdings in Cognizant Technology Solutions by 46.6% during the fourth quarter. FIL Ltd now owns 6,680,508 shares of the information technology service provider’s stock valued at $554,482,000 after purchasing an additional 2,122,600 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Up 6.0%

Shares of CTSH opened at $41.07 on Thursday. The firm has a market cap of $19.46 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.82 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Corporation has a 1 year low of $37.08 and a 1 year high of $87.03. The company has a 50 day simple moving average of $50.18 and a two-hundred day simple moving average of $64.39.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The company’s quarterly 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. On average, equities analysts expect that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock buyback 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 repurchase up to 9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were paid a $0.33 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.32 annualized dividend and a yield of 3.2%. Cognizant Technology Solutions’s payout ratio is presently 28.70%.

Analysts Set New Price Targets

CTSH has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Robert W. Baird set a $72.00 price objective on shares of Cognizant Technology Solutions and gave the company a “neutral” rating in a research report on Friday, April 10th. Daiwa Securities Group lowered their target price on shares of Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 24th. Mizuho dropped their target price on shares of Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Finally, Truist Financial began coverage on Cognizant Technology Solutions in a research note on Monday, June 1st. They issued a “hold” rating and a $66.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $68.35.

Cognizant Technology Solutions Company 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.