HighTower Advisors LLC Sells 30,450 Shares of Cognizant Technology Solutions Corporation $CTSH

HighTower Advisors LLC decreased its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 24.0% during the 4th quarter, HoldingsChannel reports. The firm owned 96,243 shares of the information technology service provider’s stock after selling 30,450 shares during the quarter. HighTower Advisors LLC’s holdings in Cognizant Technology Solutions were worth $7,988,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CTSH. JPL Wealth Management LLC bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $25,000. Lodestone Wealth Management LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $28,000. Flagship Harbor Advisors LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $28,000. Physician Wealth Advisors Inc. increased its stake 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 purchasing an additional 213 shares during the last quarter. Finally, High Note Wealth LLC grew its position in Cognizant Technology Solutions by 22,450.0% during the 3rd quarter. High Note Wealth LLC now owns 451 shares of the information technology service provider’s stock worth $30,000 after acquiring an additional 449 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of research reports. Weiss Ratings lowered Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. UBS Group reduced their price objective on Cognizant Technology Solutions from $60.00 to $55.00 in a research report on Monday, May 11th. HSBC reduced their price objective on Cognizant Technology Solutions from $98.00 to $80.00 in a research report on Thursday, April 30th. Mizuho reduced their price objective 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. Finally, Citigroup reduced their price objective on Cognizant Technology Solutions from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.00.

Cognizant Technology Solutions Trading Down 1.8%

Shares of CTSH stock opened at $51.81 on Wednesday. The firm 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. Cognizant Technology Solutions Corporation has a twelve month low of $45.48 and a twelve month high of $87.03. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $56.71 and its 200 day simple moving average is $69.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced 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. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.32 annualized dividend and a yield of 2.5%. Cognizant Technology Solutions’s payout ratio is presently 28.70%.

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

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.