Cognizant Technology Solutions Corporation $CTSH Shares Bought by Strs Ohio

Strs Ohio grew its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1,467.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 181,562 shares of the information technology service provider’s stock after buying an additional 169,982 shares during the quarter. Strs Ohio’s holdings in Cognizant Technology Solutions were worth $11,139,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 14.9% in 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 acquiring an additional 2,633,683 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of Cognizant Technology Solutions by 102.1% in the 1st quarter. Root Financial Partners LLC now owns 1,576 shares of the information technology service provider’s stock valued at $97,000 after buying an additional 796 shares during the period. Capital Asset Advisory Services LLC purchased a new stake in shares of Cognizant Technology Solutions in the first quarter valued at approximately $1,376,000. Argent Advisors Inc. boosted its stake in shares of Cognizant Technology Solutions by 5.3% in the first quarter. Argent Advisors Inc. now owns 15,021 shares of the information technology service provider’s stock valued at $922,000 after buying an additional 754 shares in the last quarter. Finally, USS Investment Management Ltd grew its holdings in Cognizant Technology Solutions by 11.6% during the first quarter. USS Investment Management Ltd now owns 97,536 shares of the information technology service provider’s stock worth $5,981,000 after acquiring an additional 10,149 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Robert W. Baird set a $72.00 price objective on Cognizant Technology Solutions and gave the stock a “neutral” rating in a research report on Friday, April 10th. Wedbush raised shares of Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $56.00 to $70.00 in a research note on Monday, June 8th. Citigroup increased their price target on shares of Cognizant Technology Solutions from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, June 8th. JPMorgan Chase & Co. decreased their price objective on shares of Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Finally, UBS Group lowered their target price on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a research report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $68.35.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $41.99 on Monday. Cognizant Technology Solutions Corporation has a 52-week low of $37.08 and a 52-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. The stock has a fifty day simple moving average of $49.48 and a 200-day simple moving average of $63.80. 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.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results 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 during 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%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. 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. On average, equities research analysts expect that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its board has authorized 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 reacquire up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

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

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.