Keystone Investors PTE Ltd. Takes $9.20 Million Position in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Keystone Investors PTE Ltd. disclosed a new position in Cognizant Technology Solutions, buying 110,855 shares worth about $9.2 million. The stake now represents roughly 0.8% of the fund’s holdings.
• Cognizant reported better-than-expected quarterly earnings, with EPS of $1.40 versus estimates of $1.33, while revenue came in at $5.41 billion and rose 5.8% year over year.
• The company’s board authorized a $2 billion share repurchase program and it also paid a quarterly dividend of $0.33 per share, reflecting a 2.5% annualized yield.

Keystone Investors PTE Ltd. purchased a new stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 110,855 shares of the information technology service provider's stock, valued at approximately $9,201,000. Cognizant Technology Solutions comprises approximately 0.8% of Keystone Investors PTE Ltd.'s holdings, making the stock its 29th biggest position.

Several other institutional investors have also made changes to their positions in CTSH. Brighton Jones LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $214,000. Geneos Wealth Management Inc. lifted its holdings 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 worth $44,000 after purchasing an additional 309 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Cognizant Technology Solutions in the 1st quarter worth approximately $142,000. Cresset Asset Management LLC lifted its holdings 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 worth $715,000 after purchasing an additional 935 shares during the last quarter. Finally, Jump Financial LLC lifted its holdings 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 worth $2,315,000 after purchasing an additional 20,716 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 1.9%

Shares of CTSH opened at $52.17 on Friday. Cognizant Technology Solutions Corporation has a 12-month low of $45.48 and a 12-month high of $87.03. The stock's fifty day simple moving average is $54.79 and its 200-day simple moving average is $67.76. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $24.72 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.08 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, beating the consensus estimate of $1.33 by $0.07. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The company's quarterly 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. As a group, research analysts predict that Cognizant Technology Solutions Corporation will post 5.7 earnings per share for the current year.

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

Cognizant Technology Solutions Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.32 annualized dividend and a yield of 2.5%. Cognizant Technology Solutions's dividend payout ratio is presently 28.70%.

Analyst Ratings Changes

CTSH has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Cognizant Technology Solutions from $70.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 30th. Wedbush upgraded Cognizant Technology Solutions from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $56.00 to $70.00 in a research report on Monday. Mizuho lowered their price objective on Cognizant Technology Solutions from $87.00 to $68.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. Jefferies Financial Group lowered their price objective on Cognizant Technology Solutions from $80.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. lowered their price objective on Cognizant Technology Solutions from $92.00 to $74.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 28th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $73.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.