Evolve Private Wealth LLC Acquires Shares of 31,830 Cognizant Technology Solutions Corporation $CTSH

Evolve Private Wealth LLC acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 31,830 shares of the information technology service provider’s stock, valued at approximately $2,642,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $690,959,000. GQG Partners LLC bought a new position in Cognizant Technology Solutions during the 4th quarter valued at $673,651,000. CIBC Bancorp USA Inc. acquired a new position in Cognizant Technology Solutions during the 3rd quarter worth $201,834,000. Cibc World Markets Corp bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth about $234,671,000. Finally, FIL Ltd raised its stake in shares of Cognizant Technology Solutions by 46.6% in the 4th 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 currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

CTSH opened at $48.82 on Thursday. 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 company’s 50-day moving average price is $54.05 and its 200 day moving average price is $67.15. Cognizant Technology Solutions Corporation has a fifty-two week low of $45.48 and a fifty-two week high of $87.03. The firm has a market cap of $23.13 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81.

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

Cognizant Technology Solutions announced that its board has authorized a share buyback program on Monday, May 18th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to buy up to 9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.70%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTSH. 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. BMO Capital Markets cut their price objective on Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. Weiss Ratings lowered Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Berenberg Bank set a $59.00 price target on Cognizant Technology Solutions and gave the company a “hold” rating in a research report on Wednesday. Finally, The Goldman Sachs Group set a $75.00 price objective on Cognizant Technology Solutions in a research note on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $72.50.

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.