Norges Bank Takes Position in Cognizant Technology Solutions Corporation $CTSH

Norges Bank bought a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,324,807 shares of the information technology service provider’s stock, valued at approximately $690,959,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $28,000. Physician Wealth Advisors Inc. raised its holdings in shares of Cognizant Technology Solutions by 165.1% in the fourth quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock valued at $28,000 after purchasing an additional 213 shares during the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $28,000. Towne Trust Company N.A raised its holdings in shares of Cognizant Technology Solutions by 85.0% in the fourth quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock valued at $31,000 after purchasing an additional 170 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $25,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley lowered 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 report on Thursday, April 30th. Royal Bank Of Canada raised their price objective on shares of Cognizant Technology Solutions from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Susquehanna decreased their price objective on shares of Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a report on Friday, May 1st. Robert W. Baird set a $72.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “neutral” rating in a report on Friday, April 10th. Finally, BMO Capital Markets decreased their price objective on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $73.00.

Cognizant Technology Solutions Price Performance

CTSH opened at $55.76 on Monday. The company has a market capitalization of $26.42 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.17 and a beta of 0.81. 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 firm has a 50-day moving average price of $56.31 and a 200-day moving average price of $69.11. Cognizant Technology Solutions Corporation has a twelve month low of $45.48 and a twelve month high of $87.03.

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, topping 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 company’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities analysts expect that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were paid a $0.33 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.4%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.70%.

Cognizant Technology Solutions declared that its board has authorized a stock repurchase program on Monday, May 18th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to buy up to 9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.