Mitsubishi UFJ Trust & Banking Corp Cuts Holdings in Cognizant Technology Solutions Corporation $CTSH

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 45.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 508,220 shares of the information technology service provider's stock after selling 426,604 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of Cognizant Technology Solutions worth $42,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTSH. CIBC Bancorp USA Inc. purchased a new position in Cognizant Technology Solutions during the third quarter worth about $201,834,000. Voloridge Investment Management LLC raised its position in Cognizant Technology Solutions by 801.4% in the third quarter. Voloridge Investment Management LLC now owns 2,104,276 shares of the information technology service provider's stock worth $141,134,000 after acquiring an additional 1,870,834 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in Cognizant Technology Solutions by 144.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,631,890 shares of the information technology service provider's stock worth $176,521,000 after acquiring an additional 1,554,648 shares during the period. Massachusetts Financial Services Co. MA raised its position in Cognizant Technology Solutions by 59.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,778,252 shares of the information technology service provider's stock worth $253,407,000 after acquiring an additional 1,407,776 shares during the period. Finally, Invesco Ltd. raised its position in Cognizant Technology Solutions by 8.6% in the third quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider's stock worth $840,669,000 after acquiring an additional 987,395 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Susquehanna reaffirmed a "positive" rating and issued a $98.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, January 23rd. Guggenheim lowered their price objective on shares of Cognizant Technology Solutions from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $98.00 price objective (up from $87.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 14th. Robert W. Baird set a $72.00 price objective on shares of Cognizant Technology Solutions and gave the stock a "neutral" rating in a research report on Friday, April 10th. Finally, Morgan Stanley set a $70.00 price objective on shares of Cognizant Technology Solutions in a research report on Monday. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus price target of $82.85.

Cognizant Technology Solutions Price Performance

CTSH opened at $55.12 on Wednesday. The company has a market capitalization of $26.36 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.19 and a beta of 0.98. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $61.36 and a 200-day moving average price of $71.84. Cognizant Technology Solutions Corporation has a twelve month low of $54.26 and a twelve month high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.03. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.31 billion. Cognizant Technology Solutions had a net margin of 10.56% and a return on equity of 17.17%. The company's revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Equities analysts expect that Cognizant Technology Solutions Corporation will post 5.65 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 18th were paid a $0.33 dividend. The ex-dividend date was Wednesday, February 18th. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 2.4%. Cognizant Technology Solutions's dividend payout ratio is 29.01%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, insider Surya Gummadi sold 1,728 shares of Cognizant Technology Solutions stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $83.06, for a total value of $143,527.68. Following the completion of the transaction, the insider owned 25,641 shares in the company, valued at $2,129,741.46. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by insiders.

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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