Cognizant Technology Solutions Corporation $CTSH Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lifted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1,138.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,738 shares of the information technology service provider’s stock after buying an additional 35,611 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Cognizant Technology Solutions were worth $2,377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $690,959,000. GQG Partners LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $673,651,000. Cibc World Markets Corp acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $234,671,000. Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions by 14.9% in the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock valued at $1,243,096,000 after purchasing an additional 2,633,683 shares during the last quarter. Finally, FIL Ltd increased its stake in Cognizant Technology Solutions by 46.6% in 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 during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Dbs Bank decreased their price target on Cognizant Technology Solutions from $80.00 to $66.00 in a research note on Thursday, May 7th. Jefferies Financial Group dropped their price objective on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Robert W. Baird cut 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 report on Friday, July 10th. Weiss Ratings cut shares of Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Finally, BMO Capital Markets lowered their target price on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $64.26.

Cognizant Technology Solutions Stock Down 2.3%

CTSH opened at $43.63 on Wednesday. Cognizant Technology Solutions Corporation has a 1 year low of $37.08 and a 1 year high of $87.03. The firm has a 50 day moving average price of $47.29 and a 200 day moving average price of $60.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $20.67 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (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 company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 5.8% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Sell-side analysts expect that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

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

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

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.