Kingsview Wealth Management LLC Sells 20,728 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Kingsview Wealth Management reduced its stake in Cognizant Technology Solutions by 16.4% in the fourth quarter, selling 20,728 shares and leaving it with 105,727 shares worth about $8.78 million.
• Cognizant reported strong quarterly results, with EPS of $1.40 beating estimates and revenue of $5.41 billion matching forecasts; revenue rose 5.8% year over year.
• The company also announced a $2 billion share buyback program and paid a quarterly dividend of $0.33 per share, equal to a 2.5% annualized yield.

Kingsview Wealth Management LLC trimmed its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,727 shares of the information technology service provider's stock after selling 20,728 shares during the period. Kingsview Wealth Management LLC's holdings in Cognizant Technology Solutions were worth $8,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd purchased a new position in Cognizant Technology Solutions in the 3rd quarter worth approximately $4,422,000. Alps Advisors Inc. boosted its stake in Cognizant Technology Solutions by 16.5% during the 3rd quarter. Alps Advisors Inc. now owns 306,078 shares of the information technology service provider's stock valued at $20,529,000 after purchasing an additional 43,252 shares during the last quarter. Arjuna Capital increased its holdings in shares of Cognizant Technology Solutions by 62.6% in the 3rd quarter. Arjuna Capital now owns 24,622 shares of the information technology service provider's stock worth $1,651,000 after purchasing an additional 9,482 shares in the last quarter. National Pension Service raised its stake in shares of Cognizant Technology Solutions by 5.5% in the third quarter. National Pension Service now owns 863,720 shares of the information technology service provider's stock worth $57,930,000 after purchasing an additional 45,016 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cognizant Technology Solutions by 11.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 193,464 shares of the information technology service provider's stock valued at $12,976,000 after purchasing an additional 19,177 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 1.3%

CTSH stock opened at $53.85 on Friday. The business's 50-day moving average price is $56.40 and its 200-day moving average price is $69.23. The stock has a market cap of $25.52 billion, a P/E ratio of 11.71, a PEG ratio of 1.12 and a beta of 0.81. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a twelve month low of $45.48 and a twelve month high of $87.03.

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 EPS 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 company had revenue of $5.41 billion for the quarter, compared to analysts' expectations of $5.41 billion. During the same quarter last year, the business earned $1.23 EPS. The firm's revenue 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, equities research analysts forecast that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

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

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, May 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 28.70%.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research analyst reports. Robert W. Baird set a $72.00 price objective on Cognizant Technology Solutions and gave the stock a "neutral" rating in a report on Friday, April 10th. HSBC dropped their price target on shares of Cognizant Technology Solutions from $98.00 to $80.00 in a report on Thursday, April 30th. Mizuho decreased their price objective on shares of Cognizant Technology Solutions from $87.00 to $68.00 and set a "neutral" rating for the company in a report on Wednesday, May 6th. 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 report on Monday, May 11th. Finally, TD Cowen reiterated a "hold" rating and set a $62.00 price target (down from $71.00) on shares of Cognizant Technology Solutions in a research note on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $73.00.

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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