Cognizant Technology Solutions Corporation $CTSH Shares Sold by Andra AP fonden

Key Points

• Andra AP fonden cut its stake in Cognizant Technology Solutions by 35.4% in the fourth quarter, selling 251,052 shares and leaving it with 458,397 shares worth about $38.0 million.
• Cognizant reported stronger-than-expected quarterly earnings, posting $1.40 EPS versus the $1.33 estimate, while revenue came in at $5.41 billion and rose 5.8% year over year.
• The company authorized a $2 billion stock buyback and recently paid a quarterly dividend of $0.33 per share, implying an annual yield of about 2.6%.

Andra AP fonden trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 35.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 458,397 shares of the information technology service provider's stock after selling 251,052 shares during the period. Andra AP fonden owned approximately 0.09% of Cognizant Technology Solutions worth $38,047,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CTSH. JPL Wealth Management LLC acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth $25,000. Lodestone Wealth Management LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $28,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $28,000. Physician Wealth Advisors Inc. increased its holdings in shares of 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 buying an additional 213 shares during the last quarter. Finally, Towne Trust Company N.A increased its holdings in shares of Cognizant Technology Solutions by 85.0% during the 4th quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider's stock worth $31,000 after buying an additional 170 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Down 1.2%

Shares of Cognizant Technology Solutions stock opened at $51.18 on Friday. The business has a 50-day moving average of $54.97 and a 200-day moving average of $67.87. 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 company has a market capitalization of $24.25 billion, a PE ratio of 11.13, a P/E/G ratio of 1.09 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 1-year low of $45.48 and a 1-year high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share 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 the consensus estimate of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company's revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has approved a stock repurchase program on Monday, May 18th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

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 dividend of $0.33 per share. The ex-dividend date was Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 28.70%.

Analyst Upgrades and Downgrades

CTSH has been the subject of several recent research reports. Weiss Ratings downgraded Cognizant Technology Solutions from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 13th. HSBC lowered their price target on Cognizant Technology Solutions from $98.00 to $80.00 in a report on Thursday, April 30th. Susquehanna lowered their price target on Cognizant Technology Solutions from $98.00 to $88.00 and set a "positive" rating for the company in a report on Friday, May 1st. Mizuho lowered their price target on Cognizant Technology Solutions from $87.00 to $68.00 and set a "neutral" rating for the company in a report on Wednesday, May 6th. Finally, Jefferies Financial Group lowered their price target on Cognizant Technology Solutions from $80.00 to $65.00 and set a "buy" rating for the company in a report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of "Hold" and a consensus target price of $73.50.

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.

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