Eurizon Capital SGR S.p.A. Invests $46.24 Million in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Cognizant Technology Solutions, buying 557,016 shares valued at about $46.24 million in the fourth quarter.
• Analysts are broadly cautious on CTSH: the stock has a Hold consensus rating, with 10 Buy and 12 Hold ratings, and an average price target of $73.
• Cognizant posted solid recent results, with Q1 EPS of $1.40 beating estimates and revenue up 5.8% year over year, while also paying a $0.33 quarterly dividend and authorizing a $2 billion share buyback.

Eurizon Capital SGR S.p.A. bought a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 557,016 shares of the information technology service provider's stock, valued at approximately $46,237,000. Eurizon Capital SGR S.p.A. owned approximately 0.12% of Cognizant Technology Solutions as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CTSH. Brighton Jones LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $214,000. Geneos Wealth Management Inc. lifted its stake in Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider's stock valued at $44,000 after buying an additional 309 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Cognizant Technology Solutions in the 1st quarter valued at about $142,000. Cresset Asset Management LLC lifted its stake in Cognizant Technology Solutions by 11.4% in the 2nd quarter. Cresset Asset Management LLC now owns 9,160 shares of the information technology service provider's stock valued at $715,000 after buying an additional 935 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Cognizant Technology Solutions by 231.4% in the 2nd quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider's stock valued at $2,315,000 after buying an additional 20,716 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on CTSH shares. TD Cowen reaffirmed a "hold" rating and issued a $62.00 price target (down from $71.00) on shares of Cognizant Technology Solutions in a research note on Thursday, April 30th. UBS Group decreased their price target on shares of Cognizant Technology Solutions from $60.00 to $55.00 in a research note on Monday, May 11th. Argus raised shares of Cognizant Technology Solutions to a "hold" rating in a research note on Tuesday, February 10th. Citigroup decreased their price target on shares of Cognizant Technology Solutions from $58.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday, May 15th. Finally, Berenberg Bank decreased their price target on shares of Cognizant Technology Solutions from $107.00 to $81.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $73.00.

Cognizant Technology Solutions Trading Up 3.5%

CTSH opened at $55.76 on Friday. 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's 50 day simple moving average is $56.31 and its two-hundred day simple moving average is $69.14. Cognizant Technology Solutions Corporation has a 1-year low of $45.48 and a 1-year high of $87.03. The firm has a market capitalization of $26.42 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 1.17 and a beta of 0.81.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $5.41 billion. During the same period last year, the company posted $1.23 EPS. The business's revenue was up 5.8% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Analysts expect that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, May 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is 28.70%.

Cognizant Technology Solutions announced that its Board of Directors has initiated a share buyback program on Monday, May 18th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology service provider to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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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