Vestcor Inc Purchases 10,792 Shares of Cognizant Technology Solutions Corporation $CTSH

Vestcor Inc boosted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 73.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,491 shares of the information technology service provider’s stock after buying an additional 10,792 shares during the period. Vestcor Inc’s holdings in Cognizant Technology Solutions were worth $2,116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patron Partners LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $227,000. Pinebridge Investments LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $37,218,000. WINTON GROUP Ltd bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $407,000. Parallel Advisors LLC boosted its stake in Cognizant Technology Solutions by 2.2% during the fourth quarter. Parallel Advisors LLC now owns 8,610 shares of the information technology service provider’s stock valued at $715,000 after buying an additional 186 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in Cognizant Technology Solutions by 27.2% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 38,136 shares of the information technology service provider’s stock valued at $3,165,000 after buying an additional 8,156 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock opened at $53.21 on Monday. Cognizant Technology Solutions Corporation has a 52-week low of $45.48 and a 52-week high of $87.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a market capitalization of $25.21 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.12 and a beta of 0.81. The stock has a 50 day moving average price of $55.65 and a 200 day moving average price of $68.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued 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. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period last year, the company earned $1.23 EPS. Cognizant Technology Solutions’s quarterly revenue was up 5.8% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a share buyback program 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 repurchase up to 9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.70%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CTSH. Mizuho dropped their price target on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. UBS Group lowered their price objective on Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. Robert W. Baird set a $72.00 price objective on Cognizant Technology Solutions and gave the company a “neutral” rating in a research note on Friday, April 10th. The Goldman Sachs Group set a $75.00 price objective on Cognizant Technology Solutions in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company lowered their price objective on Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average target price of $72.68.

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.