New York State Teachers Retirement System Acquires 19,606 Shares of Cognizant Technology Solutions Corporation $CTSH

New York State Teachers Retirement System raised its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 4.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 477,554 shares of the information technology service provider’s stock after purchasing an additional 19,606 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Cognizant Technology Solutions worth $29,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTSH. JPL Wealth Management LLC purchased a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $25,000. Lodestone Wealth Management LLC bought a new stake in Cognizant Technology Solutions during the fourth quarter worth $28,000. Flagship Harbor Advisors LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at $28,000. Physician Wealth Advisors Inc. lifted its stake in Cognizant Technology Solutions by 165.1% during the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock valued at $28,000 after acquiring an additional 213 shares in the last quarter. Finally, Prosperity Bancshares Inc bought a new position in Cognizant Technology Solutions during the 4th quarter valued at $29,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $41.99 on Friday. Cognizant Technology Solutions Corporation has a 1 year low of $37.08 and a 1 year high of $87.03. The company has a market capitalization of $19.90 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.87. The business has a fifty day moving average price of $49.48 and a two-hundred day moving average price of $63.94. 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 (NASDAQ:CTSH) last released its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions declared that its board has authorized a share buyback plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.32 annualized dividend and a yield of 3.1%. Cognizant Technology Solutions’s payout ratio is currently 28.70%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CTSH shares. Susquehanna reduced their target price on shares of Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a research note on Friday, May 1st. Weiss Ratings lowered shares of Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group set a $75.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, April 29th. BMO Capital Markets reduced their price objective on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. Finally, UBS Group decreased their price objective on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $68.35.

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.