Delta Global Management LP Sells 27,248 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Delta Global Management LP cut its Cognizant Technology Solutions stake by 75.4% in the fourth quarter, selling 27,248 shares and leaving it with 8,900 shares worth about $739,000.
• Cognizant reported better-than-expected quarterly earnings, posting EPS of $1.40 versus the $1.33 estimate, while revenue rose 5.8% year over year to $5.41 billion.
• The company also authorized a $2 billion share buyback and paid a quarterly dividend of $0.33 per share, yielding about 2.6% annually.

Delta Global Management LP decreased its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 75.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,900 shares of the information technology service provider's stock after selling 27,248 shares during the period. Delta Global Management LP's holdings in Cognizant Technology Solutions were worth $739,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at about $28,000. Physician Wealth Advisors Inc. boosted its stake 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 valued at $28,000 after purchasing an additional 213 shares in the last quarter. Lodestone Wealth Management LLC purchased a new position in Cognizant Technology Solutions during the 4th quarter valued at about $28,000. Towne Trust Company N.A lifted its position in 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 valued at $31,000 after acquiring an additional 170 shares during the period. Finally, JPL Wealth Management LLC purchased a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $25,000. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 0.5%

Shares of Cognizant Technology Solutions stock opened at $51.05 on Wednesday. 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 stock has a market capitalization of $24.19 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81. Cognizant Technology Solutions Corporation has a 52-week low of $45.48 and a 52-week high of $87.03. The company has a 50-day simple moving average of $54.32 and a two-hundred day simple moving average of $67.35.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The business had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.41 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The business's revenue for the quarter 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. On average, analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

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

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions's payout ratio is presently 28.70%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Susquehanna lowered their price target on shares of Cognizant Technology Solutions from $98.00 to $88.00 and set a "positive" rating for the company in a research report on Friday, May 1st. Weiss Ratings cut shares of Cognizant Technology Solutions from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. Citigroup lifted their price target on shares of Cognizant Technology Solutions from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, June 8th. UBS Group lowered their price target on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a research report on Monday, May 11th. Finally, Guggenheim lowered their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $73.50.

Cognizant Technology Solutions Company 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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