Andra AP fonden Sells 307,949 Shares of Cognizant Technology Solutions Corporation $CTSH

Andra AP fonden cut its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 67.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,448 shares of the information technology service provider's stock after selling 307,949 shares during the period. Andra AP fonden's holdings in Cognizant Technology Solutions were worth $9,230,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in shares of Cognizant Technology Solutions during the third quarter worth $25,000. Lodestone Wealth Management LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter worth about $28,000. Flagship Harbor Advisors LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter worth about $28,000. Physician Wealth Advisors Inc. raised its holdings in Cognizant Technology Solutions by 165.1% during the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider's stock worth $28,000 after purchasing an additional 213 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in Cognizant Technology Solutions during the 4th quarter valued at about $29,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Down 2.3%

NASDAQ:CTSH opened at $43.63 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. The business's 50-day simple moving average is $47.29 and its 200-day simple moving average is $60.32. Cognizant Technology Solutions Corporation has a fifty-two week low of $37.08 and a fifty-two week high of $87.03. The stock has a market capitalization of $20.67 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $5.41 billion for the quarter, compared to analysts' expectations of $5.41 billion. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Sell-side analysts expect that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared 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. This represents a $1.32 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions's dividend payout ratio is 28.70%.

Cognizant Technology Solutions announced that its board has initiated a stock repurchase plan on Monday, May 18th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CTSH shares. Nomura cut their price target on Cognizant Technology Solutions from $93.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price objective 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. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on Cognizant Technology Solutions in a report on Friday, July 10th. Berenberg Bank set a $59.00 target price on Cognizant Technology Solutions and gave the company a "hold" rating in a research note on Wednesday, June 17th. Finally, Evercore reduced their target price on Cognizant Technology Solutions from $100.00 to $70.00 in a report on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of "Hold" and an average price target of $64.26.

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.

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