Livforsakringsbolaget Skandia Omsesidigt Cuts Stock Position in Cognizant Technology Solutions Corporation $CTSH

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 12.7% in the first quarter, HoldingsChannel.com reports. The fund owned 133,690 shares of the information technology service provider’s stock after selling 19,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cognizant Technology Solutions were worth $8,198,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Evolve Private Wealth LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $2,642,000. OFI Invest Asset Management acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $8,421,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Cognizant Technology Solutions by 34.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,874,274 shares of the information technology service provider’s stock worth $238,565,000 after acquiring an additional 734,337 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Cognizant Technology Solutions by 14.9% during the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock worth $1,243,096,000 after purchasing an additional 2,633,683 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in Cognizant Technology Solutions by 44.4% in the 4th quarter. Corient Private Wealth LLC now owns 108,131 shares of the information technology service provider’s stock valued at $8,977,000 after purchasing an additional 33,248 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 2.6%

CTSH stock opened at $43.03 on Wednesday. Cognizant Technology Solutions Corporation has a one year low of $37.08 and a one year high of $87.03. The firm has a market cap of $20.39 billion, a PE ratio of 9.35, a PEG ratio of 0.93 and a beta of 0.87. The firm’s 50 day moving average price is $47.91 and its 200-day moving average price is $61.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock repurchase plan on Monday, May 18th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to purchase up to 9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.1%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.70%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Guggenheim decreased their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Morgan Stanley set a $44.00 target price on shares of Cognizant Technology Solutions and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Truist Financial began coverage on shares of Cognizant Technology Solutions in a research note on Monday, June 1st. They issued a “hold” rating and a $66.00 price target on the stock. Nomura lowered their price target on shares of Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, BMO Capital Markets dropped their price objective on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. Eleven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $64.26.

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.