Plato Investment Management Ltd Buys New Shares in Cognizant Technology Solutions Corporation $CTSH

Plato Investment Management Ltd bought a new position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 17,125 shares of the information technology service provider’s stock, valued at approximately $659,000.

Several other institutional investors have also added to or reduced their stakes in CTSH. Pzena Investment Management LLC boosted its holdings in Cognizant Technology Solutions by 14.9% during the 1st 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 acquiring an additional 2,633,683 shares during the period. Invesco Ltd. increased its stake in Cognizant Technology Solutions by 8.6% in the 3rd quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock worth $840,669,000 after purchasing an additional 987,395 shares during the period. Norges Bank bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $690,959,000. GQG Partners LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $673,651,000. Finally, FIL Ltd boosted its stake in shares of Cognizant Technology Solutions by 46.6% during 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 period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CTSH shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Cognizant Technology Solutions in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of Cognizant Technology Solutions in a report on Friday, July 10th. Susquehanna set a $82.00 price target on Cognizant Technology Solutions and gave the company a “positive” rating in a report on Thursday, July 30th. Royal Bank Of Canada set a $55.00 price target on Cognizant Technology Solutions in a research report on Friday, July 24th. Finally, The Goldman Sachs Group set a $75.00 price objective on Cognizant Technology Solutions in a research report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $57.78 on Wednesday. The company has a 50-day simple moving average of $48.09 and a two-hundred day simple moving average of $56.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.18 and a quick ratio of 2.18. The firm has a market capitalization of $26.03 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 0.81. Cognizant Technology Solutions Corporation has a one year low of $37.08 and a one year high of $87.03.

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

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, August 18th. Cognizant Technology Solutions’s payout ratio is 28.39%.

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.