Cognizant Technology Solutions Corporation $CTSH Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 27.2% in the 1st quarter, HoldingsChannel reports. The firm owned 3,471,681 shares of the information technology service provider’s stock after purchasing an additional 742,466 shares during the quarter. Hsbc Holdings PLC’s holdings in Cognizant Technology Solutions were worth $213,004,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTSH. Resona Asset Management Co. Ltd. lifted its holdings in Cognizant Technology Solutions by 4.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 193,725 shares of the information technology service provider’s stock worth $11,877,000 after buying an additional 7,891 shares in the last quarter. Cairn Investment Group Inc. increased its position in shares of Cognizant Technology Solutions by 1.2% during the first quarter. Cairn Investment Group Inc. now owns 57,845 shares of the information technology service provider’s stock worth $3,549,000 after acquiring an additional 710 shares during the period. United Asset Strategies Inc. raised its stake in shares of Cognizant Technology Solutions by 12.1% in the first quarter. United Asset Strategies Inc. now owns 5,281 shares of the information technology service provider’s stock valued at $324,000 after acquiring an additional 568 shares in the last quarter. Collaborative Fund Advisors LLC purchased a new position in Cognizant Technology Solutions in the first quarter valued at $241,000. Finally, Berger Financial Group Inc boosted its holdings in Cognizant Technology Solutions by 4.6% in the first quarter. Berger Financial Group Inc now owns 78,030 shares of the information technology service provider’s stock valued at $4,787,000 after purchasing an additional 3,411 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several recent research reports. Jefferies Financial Group cut their price target on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Guggenheim decreased their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. HSBC lowered their price objective on Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Dbs Bank cut their target price on shares of Cognizant Technology Solutions from $80.00 to $66.00 in a research note on Thursday, May 7th. Finally, Susquehanna reduced their target price on shares of Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating on the stock in a report on Friday, May 1st. Ten equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.26.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $44.77 on Friday. The firm has a market capitalization of $21.22 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87. The business’s fifty day moving average price is $47.46 and its 200 day moving average price is $61.04. 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 Corporation has a 12 month low of $37.08 and a 12 month high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.Cognizant Technology Solutions’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, sell-side analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced 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. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.70%.

Cognizant Technology Solutions declared that its Board of Directors has approved a stock buyback plan on Monday, May 18th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.