VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 855,075 Cognizant Technology Solutions Corporation $CTSH

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 855,075 shares of the information technology service provider’s stock, valued at approximately $33,117,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.19% of Cognizant Technology Solutions as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CYBER HORNET ETFs LLC boosted its position in Cognizant Technology Solutions by 244.7% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 4,571 shares of the information technology service provider’s stock worth $177,000 after purchasing an additional 3,245 shares during the period. California State Teachers Retirement System increased its position in shares of Cognizant Technology Solutions by 3,538.3% during the second quarter. California State Teachers Retirement System now owns 26,880,130 shares of the information technology service provider’s stock worth $1,041,067,000 after acquiring an additional 26,141,316 shares during the last quarter. Ameritas Advisory Services LLC raised its position in shares of Cognizant Technology Solutions by 84.2% in the 2nd quarter. Ameritas Advisory Services LLC now owns 33,125 shares of the information technology service provider’s stock valued at $1,283,000 after purchasing an additional 15,138 shares in the last quarter. Saudi Central Bank raised its holdings in Cognizant Technology Solutions by 87.9% in the second quarter. Saudi Central Bank now owns 33,477 shares of the information technology service provider’s stock valued at $1,297,000 after acquiring an additional 15,662 shares in the last quarter. Finally, AlphaGrep UK Ltd acquired a new stake in shares of Cognizant Technology Solutions in the 2nd quarter valued at about $548,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several research reports. Robert W. Baird set a $68.00 price target on Cognizant Technology Solutions in a research report on Thursday, July 30th. Wedbush raised Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $56.00 to $70.00 in a research note on Monday, June 8th. Daiwa Securities Group lowered their price objective 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. Morgan Stanley reiterated a “negative” rating and issued a $51.00 price target (up from $44.00) on shares of Cognizant Technology Solutions in a research report on Thursday, July 30th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $60.00 price target (up from $45.00) on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.00.

Cognizant Technology Solutions Price Performance

CTSH opened at $62.31 on Tuesday. The firm has a market capitalization of $28.07 billion, a P/E ratio of 13.40, a PEG ratio of 1.16 and a beta of 0.83. The stock has a fifty day moving average of $52.97 and a 200-day moving average of $54.98. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.11. Cognizant Technology Solutions Corporation has a 12-month low of $37.08 and a 12-month high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The business had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. Equities analysts forecast that Cognizant Technology Solutions Corporation will post 5.71 EPS for the current fiscal year.

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

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th were issued a $0.33 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.39%.

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.