California State Teachers Retirement System Sells 44,775 Shares of Cognizant Technology Solutions Corporation $CTSH

California State Teachers Retirement System reduced its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 694,039 shares of the information technology service provider's stock after selling 44,775 shares during the period. California State Teachers Retirement System owned about 0.15% of Cognizant Technology Solutions worth $26,880,130 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC boosted its stake in Cognizant Technology Solutions by 14.9% in the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider's stock worth $1,243,096,000 after buying an additional 2,633,683 shares in the last quarter. Norges Bank bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $690,959,000. Capital Research Global Investors increased its stake in shares of Cognizant Technology Solutions by 2.2% in the fourth quarter. Capital Research Global Investors now owns 6,356,349 shares of the information technology service provider's stock worth $527,577,000 after acquiring an additional 139,437 shares during the period. National Bank of Canada FI raised its holdings in shares of Cognizant Technology Solutions by 0.5% during the fourth quarter. National Bank of Canada FI now owns 5,771,093 shares of the information technology service provider's stock valued at $479,000,000 after acquiring an additional 30,811 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Cognizant Technology Solutions by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,404,918 shares of the information technology service provider's stock valued at $392,947,000 after purchasing an additional 222,819 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Cognizant Technology Solutions in a report on Friday, August 7th. HSBC lowered their price target on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. Royal Bank Of Canada set a $55.00 price objective on Cognizant Technology Solutions in a research note on Friday, July 24th. Mizuho set a $64.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $68.00 target price on Cognizant Technology Solutions in a research note on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of "Hold" and a consensus price target of $63.00.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH traded down $0.05 during mid-day trading on Tuesday, reaching $64.05. The company's stock had a trading volume of 2,146,259 shares, compared to its average volume of 8,105,201. Cognizant Technology Solutions Corporation has a 1-year low of $37.08 and a 1-year high of $87.03. The stock has a 50-day moving average of $54.88 and a two-hundred day moving average of $54.85. The stock has a market capitalization of $28.85 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.12 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.01). The firm had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.48 billion. Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 5.74 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its board has initiated a stock repurchase plan 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 repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 28.39%.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a professional services and information technology company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company provides consulting, systems integration, application development and maintenance, and business process services to clients across industries.

Its offerings include cloud enablement, software engineering, data and analytics, artificial intelligence, cybersecurity, automation and digital workplace solutions.

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