Cognizant Technology Solutions Corporation $CTSH Shares Sold by ING Groep NV

ING Groep NV trimmed its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 28.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,732,543 shares of the information technology service provider’s stock after selling 681,655 shares during the period. Cognizant Technology Solutions accounts for about 0.9% of ING Groep NV’s investment portfolio, making the stock its 23rd biggest holding. ING Groep NV owned about 0.36% of Cognizant Technology Solutions worth $143,801,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CTSH. Brighton Jones LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter worth about $214,000. Geneos Wealth Management Inc. grew its stake in Cognizant Technology Solutions by 118.8% in the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 309 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Cognizant Technology Solutions in the first quarter worth about $142,000. Cresset Asset Management LLC grew its stake in Cognizant Technology Solutions by 11.4% in the second quarter. Cresset Asset Management LLC now owns 9,160 shares of the information technology service provider’s stock worth $715,000 after purchasing an additional 935 shares in the last quarter. Finally, Jump Financial LLC grew its stake in Cognizant Technology Solutions by 231.4% in the second quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider’s stock worth $2,315,000 after purchasing an additional 20,716 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Down 0.4%

CTSH stock opened at $53.21 on Friday. The stock has a market cap of $25.21 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.81. The firm’s 50-day simple moving average is $55.65 and its 200 day simple moving average is $68.48. Cognizant Technology Solutions Corporation has a fifty-two week low of $45.48 and a fifty-two week high of $87.03. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04.

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, beating the consensus estimate of $1.33 by $0.07. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were given a dividend of $0.33 per share. The ex-dividend date was Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. Cognizant Technology Solutions’s payout ratio is currently 28.70%.

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

Analyst Ratings Changes

CTSH has been the subject of a number of research reports. Weiss Ratings downgraded Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. decreased their price target on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Berenberg Bank decreased their target price on Cognizant Technology Solutions from $107.00 to $81.00 and set a “buy” rating for the company in a research note on Monday, May 11th. TD Cowen restated a “hold” rating and issued a $62.00 target price (down from $71.00) on shares of Cognizant Technology Solutions in a research note on Thursday, April 30th. Finally, BMO Capital Markets decreased their target price on Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.68.

Cognizant Technology Solutions 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.