E. Ohman J or Asset Management AB Sells 324,200 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• E. Ohman J or Asset Management AB cut its Cognizant stake by 96.4%, selling 324,200 shares and retaining 11,961 shares valued at approximately $463,000. Institutional investors collectively own 92.44% of CTSH.
• Analyst sentiment remains mixed, with 10 Buy, 13 Hold and one Sell rating; the consensus rating is Hold with a $63 price target.
• Cognizant reported $5.48 billion in quarterly revenue and $1.37 in EPS, while announcing a $0.33 quarterly dividend and a $2 billion share-repurchase program covering up to 9% of outstanding shares.

E. Ohman J or Asset Management AB lessened its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 96.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,961 shares of the information technology service provider's stock after selling 324,200 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Cognizant Technology Solutions were worth $463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTSH. Norges Bank bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $690,959,000. GQG Partners LLC bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $673,651,000. Assenagon Asset Management S.A. lifted its position in shares of Cognizant Technology Solutions by 925.5% in the second quarter. Assenagon Asset Management S.A. now owns 3,652,358 shares of the information technology service provider's stock worth $141,456,000 after buying an additional 3,296,205 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $234,671,000. Finally, Pzena Investment Management LLC boosted its stake in Cognizant Technology Solutions by 14.9% during the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider's stock valued at $1,243,096,000 after buying an additional 2,633,683 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Analyst Ratings Changes

CTSH has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Cognizant Technology Solutions from $74.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, July 24th. Citigroup reissued a "neutral" rating and issued a $60.00 price objective (up from $45.00) on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Royal Bank Of Canada set a $55.00 target price on shares of Cognizant Technology Solutions in a report on Friday, July 24th. Robert W. Baird set a $68.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. Finally, HSBC reduced their price objective on Cognizant Technology Solutions from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of "Hold" and a consensus price target of $63.00.

Cognizant Technology Solutions Stock Down 0.7%

Shares of NASDAQ:CTSH opened at $58.20 on Thursday. The firm has a market capitalization of $26.22 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. The business has a 50 day simple moving average of $47.69 and a two-hundred day simple moving average of $56.83. Cognizant Technology Solutions Corporation has a 1 year low of $37.08 and a 1 year high of $87.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.18 and a quick ratio of 2.18.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The business had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the business posted $1.31 earnings per share. Cognizant Technology Solutions's revenue was up 4.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post 5.71 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, August 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is 28.39%.

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

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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