Cognizant Technology Solutions Corporation $CTSH Holdings Decreased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd trimmed its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 80.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,887 shares of the information technology service provider’s stock after selling 556,980 shares during the period. Mediolanum International Funds Ltd’s holdings in Cognizant Technology Solutions were worth $8,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CTSH. Norges Bank acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $690,959,000. GQG Partners LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $673,651,000. Cibc World Markets Corp acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $234,671,000. Pzena Investment Management LLC grew its position in 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 valued at $1,243,096,000 after purchasing an additional 2,633,683 shares in the last quarter. Finally, FIL Ltd grew its position in 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 in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $44.64 on Tuesday. 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 has a market capitalization of $21.15 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87. Cognizant Technology Solutions Corporation has a 12-month low of $37.08 and a 12-month high of $87.03. The company has a 50 day moving average price of $47.37 and a two-hundred day moving average price of $60.60.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly 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 company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.41 billion. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. Cognizant Technology Solutions’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities analysts predict that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.70%.

Cognizant Technology Solutions announced that its board has initiated 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 buy up to 9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Nomura cut their target price on shares of Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Citigroup lowered their price target on shares of Cognizant Technology Solutions from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. JPMorgan Chase & Co. dropped their price target on shares of Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on Cognizant Technology Solutions in a report on Friday, July 10th. Finally, Guggenheim lowered their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.