Delta Global Management LP Trims Stock Position in Cognizant Technology Solutions Corporation $CTSH

Delta Global Management LP decreased its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 75.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,900 shares of the information technology service provider’s stock after selling 27,248 shares during the quarter. Delta Global Management LP’s holdings in Cognizant Technology Solutions were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CTSH. Vanguard Group Inc. boosted its position in shares of Cognizant Technology Solutions by 0.8% in the third quarter. Vanguard Group Inc. now owns 60,348,442 shares of the information technology service provider’s stock worth $4,047,570,000 after purchasing an additional 493,912 shares during the period. Pzena Investment Management LLC grew its position in shares of Cognizant Technology Solutions by 1.5% during the third quarter. Pzena Investment Management LLC now owns 17,710,868 shares of the information technology service provider’s stock worth $1,187,868,000 after purchasing an additional 260,177 shares in the last quarter. Invesco Ltd. grew its position in shares of Cognizant Technology Solutions by 8.6% during the third 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 in the last quarter. First Trust Advisors LP grew its position in shares of Cognizant Technology Solutions by 7.6% during the third quarter. First Trust Advisors LP now owns 9,085,998 shares of the information technology service provider’s stock worth $609,398,000 after purchasing an additional 639,801 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth about $690,959,000. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Up 0.5%

Shares of CTSH opened at $51.05 on Wednesday. The stock has a market capitalization of $24.19 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 1 year low of $45.48 and a 1 year high of $87.03. The business’s 50 day simple moving average is $54.32 and its 200-day simple moving average is $67.35. 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 (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities 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 approved a stock buyback plan 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 reacquire up to 9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Monday, May 18th. This represents a $1.32 annualized dividend and a yield of 2.6%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.70%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CTSH shares. Jefferies Financial Group cut their target price on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Morgan Stanley dropped their target price on shares of Cognizant Technology Solutions from $70.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. UBS Group dropped their target price on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a research report on Monday, May 11th. BMO Capital Markets dropped their target price on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a research report on Thursday, April 30th. Finally, Susquehanna dropped their target price on shares of Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a research report on Friday, May 1st. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.50.

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.